Africa’s richest man, Aliko Dangote, has revealed plans to list Dangote Cement Plc on the London Stock Exchange this year through a dual listing arrangement valued at nearly $13bn.
Dangote disclosed the plan during an interview with the Financial Times, stating that the cement company intends to sell about 10 per cent of its shares to outside investors through a secondary listing in the United Kingdom.
Dangote Cement had previously considered a London listing as far back as 2018 but was unable to proceed due to strict listing requirements and distractions caused by the construction of the company’s refinery project in Lagos.
However, recent reforms introduced by the UK’s Financial Conduct Authority have reportedly made the London market more attractive for the company.
“We ended up saying London is good as they have brought down the minimum listing requirements,” Dangote said.
The billionaire businessman noted that the company has now decided to move ahead with the dual listing after years of consideration.
“We want to do a dual listing. We’ve been thinking about it for seven to 10 years,” he added.
According to Dangote, the listing could take place around September 2026, depending on prevailing market conditions and investor demand.
The planned listing comes amid strong financial performance by the cement manufacturer, which remains the largest cement producer in Africa.
Dangote Cement reported a profit before tax of N421.1bn for the first quarter of 2026, representing a 35 per cent increase from N311.9bn recorded during the same period in 2025.
The company’s revenue also rose to N1.19tn from N994.6bn during the review period.
For the full 2025 financial year, the company posted a pre-tax profit of N1.53tn, reflecting a 109 per cent increase compared to N732.54bn reported in 2024.
The growth was largely driven by higher revenue and lower finance costs.
Analysts believe the proposed London listing could provide a boost to the UK stock market, which has struggled in recent years to attract major global listings amid competition from exchanges in the United States and Europe.
The move could also further increase Dangote’s personal fortune, which Bloomberg estimates has already risen by $5.4bn this year to about $35.4bn.
