Dangote to Offer Shares in Ethiopia's Fertiliser Business

Aliko Dangote, Africa's richest man, announced plans to sell at least 10 percent of his multibillion-dollar fertiliser business in Ethiopia to local investors. This sale will occur through the Ethiopian Securities Exchange once the $4 billion fertiliser plant in Gode begins operations and production stabilises.

Speaking in Addis Ababa on Thursday, Dangote stated that the listing would enable Ethiopian investors to participate in the venture's future growth. He plans to discuss the proposal with Ethiopian Prime Minister Abiy Ahmed but indicated that the investment group would proceed regardless of the government's stance.

The fertiliser complex, under construction, is designed to produce three million tonnes of urea fertiliser annually, positioning Ethiopia as a potential major supplier in East Africa. Dangote Group controls 60 percent of the venture, while Ethiopian Investment Holdings owns the remaining 40 percent.

Construction began in October 2025, with completion expected within 40 months, targeting a 2029 opening. The project's cost has risen to $4 billion due to additional infrastructure.