Dangote Group plans IPO for fertilizer business

Aliko Dangote, chief executive officer (CEO) of Dangote
Group, says the conglomerate’s fertilizer business will be listed through an
initial public offering (IPO) in 2028.

 

Dangote spoke in an interview with Bloomberg Television on
Monday.

“We will IPO it. It’s going to be the biggest fertilizer
company on earth. Yes, it will be 2028,” he said.

Speaking further, the billionaire said the Dangote refinery
IPO is not merely a capital-raising exercise but part of a broader vision to
democratise ownership of strategic African assets and create sustainable value
for millions of investors across the continent.

“For decades, Africa’s most strategic assets have been owned
by a limited group of investors. Through this IPO, we are creating an
opportunity for millions of Africans to become part-owners of a transformative
business that is changing the energy landscape of the continent,” he said.

“It is about creating value, expanding prosperity, and
building generational wealth for our people.”

The mogul said the refinery was conceived as an African
solution to the continent’s longstanding energy challenges and is a critical
part of Dangote Group’s strategy to reduce Africa’s dependence on imports while
strengthening local production capacity.

He said the group remains focused on building industries
that support economic self-sufficiency, create jobs, boost foreign exchange
earnings and drive sustainable development across Africa.

On investor confidence, Dangote said the strong demand
recorded during the refinery’s private placement demonstrated domestic and
international belief in the project’s future.

According to the entrepreneur, the group deliberately
limited the amount raised through the private placement to encourage broader
ownership and participation among Africans.

“Our objective has always been bigger than building a
refinery. We want to create institutions that will outlive us, businesses that
can compete globally, and opportunities that allow Africans to share in the
wealth created on the continent,” he said.

“This IPO is another step towards achieving that vision.”

Dangote also said Africa has the resources, talent and
market potential required to compete with the world’s leading economies, adding
that industrialisation remains the surest path to economic prosperity.

Click to signup for FREE news updates, latest information and hottest gists everyday

Advertise on NOP NIGERIA to reach thousands of our daily users