Lafarge Africa proposes name change to HBM Nigeria at April 30 AGM

Lafarge Africa Plc will ask shareholders to approve a change of its corporate identity to “HBM Nigeria Plc” at its 67th Annual General Meeting scheduled for April 30, 2026, in Lagos.

The disclosure was made in a corporate filing with the Nigerian Exchange (NGX) on Thursday, April 9.

The proposed name change is part of a broader AGM agenda that also includes financial reporting, dividend approval, and board restructuring.

What Lafarge is saying: 

The company highlighted the proposed name change as a key special resolution requiring shareholder approval at the meeting. Management noted that the amendment will formally alter Clause 1 of its Memorandum of Association, redefining its legal identity.

• “The proposed change of name from Lafarge Africa Plc to HBM Nigeria Plc is subject to shareholder approval by special resolution.” 
• “The amendment will affect Clause 1 of the Memorandum of Association to reflect the new corporate identity.” 
• “The Register of Members and Transfer Books will be closed from April 6 to April 10, 2026, to update records for dividend payment.” 
• “If approved, dividends will be paid on April 30, 2026, to eligible shareholders.” 

The company also emphasized that routine governance matters, including audited accounts approval, dividend declaration, and board elections, remain central to maintaining transparency and regulatory compliance.

More insights

The proposed rebranding comes as the company appears to be consolidating its market position, potentially signaling a new phase of growth and strategic realignment.

• This latest rebranding move will mark the fourth in corporate name changes, from its original West Africa Portland Cement Company (WAPCO) to Lafarge Cement WAPCO Nigeria Plc.
• This followed the acquisition of Blue Circle Industries by Lafarge, which changed its name to Lafarge Cement WAPCO Nigeria Plc, combining global branding with its legacy WAPCO identity.
• The current name, Lafarge Africa Plc, became effective on July 9, 2014 after shareholder approval at an AGM following the merger of Lafarge and Holcim’s African operations, consolidating the Nigerian and South African assets into a single pan-African entity.

The AGM will also address several governance and operational priorities beyond the name change.

What you should know

Lafarge Africa Plc reported strong financial performance for the 2025 financial year, underscoring the backdrop to its proposed strategic shift. The company recorded significant growth across key financial metrics.

• Revenue rose to N1.1 trillion in 2025, up 53% from N696.8 billion in 2024.
• Profit After Tax increased from N100.1 billion to N273 billion, representing a 173% growth.
• Operating profit climbed from N193 billion to N392 billion, driven by cost optimization and operational efficiency.
• Earnings per share surged from N6.22 to N17, reflecting improved profitability.
• The company has proposed a final dividend of 600 kobo per 50 kobo ordinary share, subject to shareholder approval and applicable withholding tax.
• As of Thursday, April 9, the share price of the stock closed at N214.90 per share on the NGX, recording a 1.4% gain over its previous closing price of N212.00.
• Lafarge Africa began the year with a share price of N134.50 and has since gained 59.8% on that price valuation, ranking it 33rd on the NGX in terms of year-to-date performance.

As of Friday, April 10, 2026, the stock is rising by about N18.30 to N233.20 or 8.5% on early morning trade, bidding fair to close the day with a maximum daily 10 percentage gain. (Nairametrics)