*Boasts of 4.2 billion tonnes of limestone reserves with 80-year mine life
*Delivers US$3.1b revenue in last 12 months to June 2026
WorldStage– Dangote Cement Plc, Africa’s largest cement producer, today hosted its Capital Markets Day in London as part of preparations for a proposed secondary listing on the London Stock Exchange (LSE).
The event, attended by international investors, analysts and stakeholders (and streamed via webcast), provided a detailed update on the company’s strategy, operations, financial performance and mid-term growth plans.
Senior management, including Chairman Emmanuel Ikazoboh, Group Managing Director/CEO Arvind Pathak, Group CFO Gbenga Fapohunda and other executives, presented under the theme “A Global Leader, Proudly African.”
Key Highlights from the Presentation
Scale and Pan-African Footprint
Dangote Cement operates as the largest cement company in Africa by installed capacity, with 55 million tonnes per annum (Mta) across 11 countries in West, Central, East and Southern Africa.
The company maintains a fully integrated “quarry-to-customer” model covering raw material preparation, manufacturing and distribution.
It deploys more than 9,000 trucks and has significantly expanded clinker exports (34 ships dispatched from Nigeria in 2025, up from 10 in 2022).
Strong Financial Track Record
- Last-twelve-months (to June 2026) revenue: US$3.1 billion
- Revenue CAGR (2023–2025): +40%
- Adjusted EBITDA CAGR (2023–2025): +50%
- L12M June 2026 Adjusted EBITDA margin: 47% (Nigeria operations at 60%)
- Cash conversion: 89%
- Return on Capital Employed (ROCE): 68%
- Dividend CAGR (2023–2025): +22%, with a dividend yield of approximately 5%
The company highlighted embedded “FX neutrality” through exports and CFA-franc exposure, alongside a shift from automotive gas oil (AGO) to compressed natural gas (CNG) for logistics efficiency.
Africa’s Structural Opportunity
Management positioned cement as a foundational input for Africa’s generational build-out, driven by rapid population growth, urbanisation, infrastructure deficits, housing needs and rising construction activity.
Africa is projected to account for a significantly larger share of global population and economic activity by 2050, creating substantial long-term demand for cement.
Growth Strategy
Dangote Cement outlined a capital-light, multi-layered growth approach:
- Expansion across all cement categories (including specialty products) at marginal incremental cost.
- Development of cement-based adjacencies such as aggregates, mortars, dry mixes and ready-mix/precast concrete.
- Evolution into a “one-stop-shop” building solutions provider leveraging its existing platform and customer relationships.
The company emphasised disciplined, self-funded growth while maintaining attractive shareholder yields.
It benefits from substantial limestone reserves (approximately 4.2 billion tonnes with an 80-year mine life), modern energy-efficient plants, and an extensive land, rail and sea distribution network.
Sustainability and Community Focus
Dangote Cement reported progress on decarbonisation, targeting a 20% reduction in Scope 1 and 2 emissions intensity by 2030 (from a 2021 baseline).
Other initiatives include reductions in water consumption, waste generation and energy intensity, alongside investments in workforce training and community social programmes.
Leadership and Governance
The presentation introduced key leaders, including Chairman Emmanuel Ikazoboh (elevated in July 2025 after more than a decade on the board) and long-serving executives such as Non-Executive Director Olakunle Alake.
The management team underscored a culture of performance, operational excellence and proactive sustainability.
Context of the Event
The Capital Markets Day follows shareholder approval earlier in 2026 for a secondary listing on the LSE.
The company aims to broaden its international investor base, enhance visibility and support its pan-African expansion ambitions.
Presentation materials have been made available to the market in line with regulatory disclosure requirements.
Dangote Cement remains one of the most capitalised stocks on the Nigerian Exchange and continues to position itself as a leading vehicle for investors seeking exposure to Africa’s long-term infrastructure and urbanisation story.Further details on the proposed LSE listing timeline are expected in due course.
