DANGOTE GROUP PLANS $45BN EXPANSION TO DRIVE GROWTH

Dangote Group is planning a $45bn investment programme aimed at expanding its industrial businesses and increasing annual revenue to $100bn by 2030.

The group’s expansion strategy is expected to rely significantly on internally generated cash, with Dangote Cement positioned as a major source of funds for the next phase of growth.

Dangote Cement plans to increase its production capacity from 55 million tonnes per year to more than 80 million tonnes as part of what the company describes as a self-funded growth strategy.

According to the company’s September 2026 capital markets presentation, its cash conversion stood at 89 per cent in the 12 months to June 2026, while return on capital employed reached 68 per cent.

The cement business recorded $3.1bn in revenue during the period, representing a 22 per cent increase from the previous year. Its adjusted earnings before interest, taxes, depreciation and amortisation also recorded strong growth between 2023 and 2025.

Beyond cement production, the group plans to expand into related areas, including aggregates, mortars, dry mixes and ready-mix concrete or precast products.

Dangote Cement currently operates across 11 African countries and sells products in 25 countries. It recorded three million tonnes in export sales in 2025, with clinker shipments from Nigeria to markets including Ghana, Cameroon, Côte d’Ivoire and Gabon.

The wider $45bn investment programme covers several sectors, including refining, petrochemicals, fertiliser and sugar.

Dangote Group is targeting $30bn in adjusted EBITDA and $100bn in annual revenue by 2030 as it expands its industrial operations and seeks to strengthen its cash-generating capacity.