Chinese cement giant Huaxin Cement has shaken up Nigeria’s cement industry with a $1 billion acquisition of Holcim’s majority stake in Lafarge Africa. The deal hands Huaxin control of four major plants with a combined capacity of 10 million tons, making it the third-largest player in the country behind Dangote Cement and BUA. Founded in 1907 but only active in Africa since 2020, Huaxin has pursued a bold acquisition strategy across the continent as slowing demand in China forces expansion abroad. The Lafarge deal boosts its African capacity to nearly 30 million tons, though a minority shareholder has launched a legal challenge in Nigeria. Analysts say the move could intensify competition, potentially reshaping prices and supply in Africa’s largest market.
The African Report
