Senegal Government Acquires 10% Stake in Dangote Cement

The Senegalese government has announced the acquisition of a 10% stake in Dangote Cement's subsidiary in Senegal, marking a strategic move to enhance its presence in the country's industrial sector. This transaction is expected to bolster the government's efforts to promote local industry and ensure equitable distribution of economic benefits.

The Senegalese government has not specified how the acquired stake will be utilized, but anticipates that the investment will contribute to infrastructure development and support local employment. The acquisition occurs as the subsidiary faces a 21.4% revenue decline in 2025, driven by a 19.8% drop in sales volume, with total revenue projected at NGN 192.2 billion (approximately USD 138.6 million) for 2024 and NGN 151 billion for 2025.

This move reduces Dangote Group's direct stake from 99.99% to 89.99%, making the government a minor shareholder in this strategic industrial asset. The acquisition aligns with the government's policy to promote local participation in key economic sectors.