Dangote Fertiliser to IPO, boosting production capacity
Aliko Dangote announced that Dangote Fertiliser Ltd aims to list on the stock exchange in 2027, moving the timeline forward from an earlier projection of 2028. This announcement was made during an investors meeting at the Nairobi Securities Exchange.
The company is expanding its production capacity from 3 million tonnes to 12 million tonnes, with six production lines expected to be operational between late 2028 and early 2029. Dangote expressed his desire for the fertiliser business to be publicly owned, similar to the recent IPO of Dangote Petroleum Refinery in Lagos.
The expansion is partly driven by global fertiliser supply disruptions due to the Russia-Ukraine war and Africa's reliance on imports. Additionally, Dangote Fertiliser is developing potash and phosphate mines and currently produces 2.2 million tonnes of diammonium phosphate (DAP).
The company is also involved in a project in Ethiopia, where Dangote is expected to hold a 60% stake.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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