London listing of Dangote Cement nears completion

Nigerian businessman, Aliko Dangote, has assured investors that the listing of Dangote Cement on the London Stock Exchange (LSE) would be finalised soon.

Speaking during ‘One to One Conversation’ at the 5th annual Financial Times African Summit, Dangote disclosed this might happen next year. He said all hands are on deck to complete the process of listing, an event he said was eagerly awaited by the business community.

At the event attended by investors, business magnates, captains of Industry and African Heads of Government, including President Akufo-Addo of Ghana and Ali Bongo of Gabon, Dangote said efforts must be made to deepen African regional market by African investors and governments to aid rapid growth and development of the continent’s economy, emphasising that “regional markets in Africa must work.”

He said Africans must patronise African markets which is why the free trade agreements between African nations is the way to strengthen African markets. As an example, Dangote referred to the case of the neighbouring Benin Republic where the country continues to import cement from China while his Nigerian factory is only 35 miles away from the border.

“We need to trade with ourselves”, Dangote stated as he spoke glowingly about the prospects of African economies, the free trade agreements and the availability of huge raw materials to attract investors. On difficult markets like Tanzania and Ethiopia, Dangote re-affirmed “our aim is to always provide jobs and worth. As an African investor I don’t want any investor anywhere in Africa to have a bad experience.”

Dangote repeated his central mantra for African growth urging the reduction of exports of raw materials to other continent but create greater wealth within African economies.