Aliko Dangote is planning a secondary listing of Dangote Cement in London by September, potentially providing a significant boost to the UK’s struggling capital markets. The $13 billion cement giant, Africa’s largest producer of building materials, aims to sell a 10% stake to international investors to support its goal of reaching 100 million metric tons of annual capacity by 2030. Dangote credited the UK’s relaxed listing requirements for the move, having previously prioritized his $20 billion Nigerian oil refinery. With JPMorgan, Standard Bank, and Citigroup advising, the flotation signals a pragmatic pivot toward global liquidity. The move also includes plans for a separate IPO of up to 15% of his refinery in Lagos later this year.
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