Dangote Cement Plc has revealed why it is pursuing a secondary listing on the London Stock Exchange instead of Dubai, saying the United Kingdom offers a quicker and more practical route to attract international investors. The decision marks another major step in the Dangote Group’s ambitious global expansion strategy as it works toward achieving $100 billion in annual revenue by 2030.
Speaking in Lagos, Mariya Dangote, Executive Director overseeing the group’s cement and foods businesses, explained that although Dubai was considered, the listing process there would have taken much longer. She described London as a better fit for the company’s business goals and confirmed that the group is targeting the completion of the secondary listing before the end of 2026. However, she noted that the timeline could extend into the first quarter of 2027 depending on the schedule of the planned Dangote Refinery initial public offering (IPO).
According to Mariya Dangote, the conglomerate is carefully coordinating multiple capital market transactions to avoid overlaps. If the refinery IPO goes ahead around September as expected, the cement company’s London listing will likely follow later in the year or early 2027. The move reflects the group’s broader strategy of strengthening its access to global capital while creating more value for investors across its expanding portfolio.
The planned London listing comes as the Dangote Group continues to grow its international footprint. The Dangote Refinery has recently reached full production capacity, reinforcing its status as one of the world’s largest single-train refineries and increasing investor interest in the energy business. At the same time, Dangote Cement remains Africa’s largest cement producer, with an annual installed production capacity of 55 million metric tonnes spread across 11 plants in 10 African countries. The group is also considering selling a stake in its fertilizer business to raise additional capital for future expansion.
Investor confidence in Dangote Cement has remained strong throughout 2026, with the company’s shares on the Nigerian Exchange gaining about 70%, pushing its market value to approximately ₦17 trillion (around $12 billion). Although plans for a London listing were first announced in 2011, recent developments indicate the project is now much closer to becoming a reality. Together with the recently completed $2.5 billion private placement and the proposed public listing of a 10% stake in Dangote Refinery, the latest move underscores the conglomerate’s determination to strengthen its position in global capital markets while driving long-term growth across its manufacturing, energy, and industrial businesses.
source: nairametrics
