Africa’s richest man, Aliko Dangote, is planning to list Dangote Cement Plc on the London Stock Exchange this year in a move aimed at securing a dual listing for the company valued at nearly $13 billion.
Dangote disclosed the plan in an interview with the Financial Times, stating that the cement giant intends to sell about 10% of its shares to outside investors as part of the secondary listing in the United Kingdom.
Dangote Cement Plc, which reported a profit before tax of N421.1 billion for Q1 2026, has previously considered listing in London as far back as 2018 but was hindered by stringent listing requirements and distractions from the construction of the company’s massive refinery project in Nigeria.
Recent overhauling of listing rules by the UK’s Financial Conduct Authority has made the UK market more attractive for Africa’s richest man.
“We ended up saying London is good as they have brought down the minimum listing requirements,” Dangote said.
Dangote, whose refinery operating in Lagos is the biggest in Africa, said the company has now decided on a dual listing.
He added that recent reforms in the UK market had revived the company’s confidence in pursuing the listing, which could take place around September this year, depending on market conditions and investor demand.
The renewed push for listing in the UK comes against the backdrop of very strong financial performance for the cement company, the largest in Africa.
The firm registered a profit before tax of N421.1 billion for the first quarter of 2026 alone. This reflects a 35% year-on-year increase from N311.9 billion in Q1 2025, driven largely by strong topline growth, with revenue rising to N1.19 trillion from N994.6 billion.
Looking at the full fiscal year of 2025, Dangote Cement Plc reported a pre-tax profit of N1.53 trillion, representing an increase of 109% compared to N732.54 billion recorded in 2024, driven by revenue growth and a significant reduction in finance costs.
A London listing could provide a major boost to the attractiveness of the UK’s stock exchange, which has struggled in recent years to attract major global listings amid competition from markets in the United States and Europe.
