Aliko Dangote, Chief Executive Officer of Dangote Group, has announced that the conglomerate’s fertilizer business will be listed through an initial public offering (IPO) in 2028.
Dangote disclosed this in an interview with Bloomberg Television on Monday.
“We will IPO it. It’s going to be the biggest fertilizer company on earth. Yes, it will be 2028,” he said.
Dangote Refinery IPO to Broaden Ownership
Speaking further, Dangote said the planned Dangote Refinery IPO is not merely a capital-raising exercise but part of a broader vision to democratise ownership of strategic African assets and create sustainable value for millions of investors across the continent.
“For decades, Africa’s most strategic assets have been owned by a limited group of investors. Through this IPO, we are creating an opportunity for millions of Africans to become part-owners of a transformative business that is changing the energy landscape of the continent,” he said.
“It is about creating value, expanding prosperity, and building generational wealth for our people.”
Dangote said the refinery was conceived as an African solution to the continent’s longstanding energy challenges.
He described it as a critical part of Dangote Group’s strategy to reduce Africa’s dependence on imports while strengthening local production capacity.
He added that the group remains focused on building industries that support economic self-sufficiency, create jobs, boost foreign exchange earnings and drive sustainable development across Africa.
Strong Demand for Refinery Shares
On investor confidence, Dangote said the strong demand recorded during the refinery’s private placement demonstrated domestic and international belief in the project’s future.
According to the entrepreneur, the group deliberately limited the amount raised through the private placement to encourage broader ownership and participation among Africans.
“Our objective has always been bigger than building a refinery. We want to create institutions that will outlive us, businesses that can compete globally, and opportunities that allow Africans to share in the wealth created on the continent,” he said.
“This IPO is another step towards achieving that vision.”
Dangote also said Africa has the resources, talent and market potential required to compete with the world’s leading economies.
He added that industrialisation remains the surest path to economic prosperity.
