Dangote reveals why London is preferred over Dubai for cement listing

Dangote Cement Plc has opted to pursue a secondary listing in London instead of Dubai, with the company citing a faster and more practical listing process in the United Kingdom as it expands its global investor base.

The disclosure was made by Mariya Dangote, Executive Director overseeing the group’s cement and foods businesses, who said the company had considered Dubai but concluded that listing there would take significantly longer, Bloomberg reported.

The planned secondary listing forms part of the broader expansion strategy of the Dangote Group, controlled by Africa’s richest man, Aliko Dangote, as it targets $100 billion in annual group revenue by 2030.

What Dangote is saying

Speaking in Lagos, Mariya said London offered a better fit for the company’s plans.

“It’s compatible with our business,” she said. “We thought of the secondary listing in Dubai, but it would have taken years to list.”

According to Mariya Dangote, the cement producer is working towards completing the London listing before the end of 2026. However, the timeline could shift to the first quarter of 2027 depending on the schedule for the planned initial public offering (IPO) of Dangote Refinery.

• “The way things are moving, we are looking to do the secondary listing at the end of this year,”she said.

She explained that the group is managing multiple capital market transactions simultaneously.

• “The company is going into two IPOs at the same time. So we want to have a bit of a gap. If the refinery one is around September, then we’ll push the secondary listing to the end of the year or the first quarter of 2027.”

More insights

The London listing comes as the Dangote Group accelerates efforts to deepen its international presence and unlock value across its businesses.

In addition to plans to list the refinery business, expected to become one of Africa’s largest IPOs, the conglomerate also intends to sell a stake in its fertilizer business as it seeks fresh capital to support expansion.

The Dangote Refinery recently reached full production capacity, further strengthening its position as one of the world’s largest single-train refineries and boosting investor interest in the group’s energy business.

Meanwhile, Dangote Cement remains the largest cement producer on the continent, with an installed production capacity of 55 million metric tonnes annually across 11 plants in 10 African countries.

What you should know

Investor confidence in Dangote Cement has remained strong this year.

The company’s shares, listed on the Nigerian Exchange, have gained about 70% in 2026, lifting its market capitalisation to approximately N17 trillion (about $12 billion).

• Although the company first floated the idea of a London listing in 2011, the latest comments suggest the plan is now approaching execution as market conditions become more favourable.
• The planned London listing follows a series of strategic moves by the Dangote Group aimed at expanding its footprint in global capital markets.
• Recently, Nairametrics reported that Aliko Dangote confirmed the successful completion of a $2.5 billion private placement, marking one of the largest corporate fundraising transactions by an African company.  Also in December 2025, Dangote had first revealed his landmark plan to list a 10% stake in his $20 billion refinery on the Nigerian Exchange (NGX) this year. Recall that billionaire businessman Femi Otedola disclosed plans to invest $100 million in the refinery’s expected public offering, describing it as a strategic long-term investment in one of Africa’s most significant industrial projects.

These initiatives align with the conglomerate’s long-term ambition of growing annual group revenue to $100 billion by 2030 through expansion across manufacturing, energy and industrial businesses.  (Nairametrics)