Africa’s richest man, Aliko Dangote, plans to list Dangote Cement Plc on the London Stock Exchange before the end of 2026. The move targets a dual listing for a company worth nearly $13 billion and could rank among the most significant African corporate listings in years.

Dangote disclosed the plan in an interview with the Financial Times. He said the cement giant intends to sell about 10% of its shares to outside investors as part of the secondary listing in the United Kingdom.

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Why London, and Why Now

Dangote Cement first explored a London listing as far back as 2018. Two factors blocked it then: stringent listing requirements on the London Stock Exchange and the enormous distraction of building Africa’s largest oil refinery in Lagos.

Both obstacles have now shifted. The UK’s Financial Conduct Authority overhauled its listing rules, and the refinery has moved into full operation.

Dangote credited the regulatory changes directly. “We ended up saying London is good as they have brought down the minimum listing requirements,” he said. He added that he has been thinking about a dual listing “for seven to 10 years” and that the company now feels ready to act.

He indicated the listing could take place around September 2026, subject to market conditions and investor demand. Advisers are already engaged.

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The Financial Case for the Listing

Dangote Cement’s numbers provide a compelling pitch to international investors.

The company posted a profit before tax of N421.1 billion for the first quarter of 2026 alone. That figure reflects a 35% year-on-year increase from N311.9 billion in Q1 2025, with revenue climbing to N1.19 trillion from N994.6 billion over the same period.

For the full year 2025, Dangote Cement reported a pre-tax profit of N1.53 trillion. That result represents a 109% jump from N732.54 billion in 2024, driven by strong revenue growth and a sharp reduction in finance costs. The company also proposed a dividend of N45 per share.

These figures give Dangote Cement clear momentum heading into any investor roadshow.

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What a London Listing Would Mean for Dangote

A successful listing could push Dangote’s personal net worth even higher. Bloomberg estimates already put it at approximately $35.4 billion as of May 2026, up $5.4 billion since the start of the year. A London IPO that attracts strong institutional demand would increase that figure further.

Beyond personal wealth, the listing fits a larger internationalisation strategy. Dangote said he is now in the “busiest period” of his life, turning 69 on April 10. Rather than slowing down, he is pursuing listings across multiple markets and multiple businesses simultaneously.

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The Refinery Listing Runs in Parallel

The cement listing does not stand alone. In April 2026, Dangote revealed separate plans to list approximately 10% of the Dangote Refinery on multiple African stock exchanges. The Lagos refinery currently processes 650,000 barrels per day. Dangote aims to scale that output to 1.4 million barrels per day, a capacity that would make it the largest refinery in the world upon completion.

For the refinery listing, the company has already appointed advisers including Stanbic IBTC Capital, Vetiva Advisory Services, and FirstCap. The dual listing strategy across both cement and refining signals a deliberate effort to attract pools of international and pan-African capital into the Dangote Group’s next phase of expansion.

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What a Dangote Listing Means for the London Stock Exchange

London would benefit considerably from landing this listing. The exchange has struggled in recent years to attract major global companies, facing stiff competition from US markets and continental European exchanges. Several large British firms have chosen New York over London for their public listings, prompting a policy response from UK regulators.

The FCA rule changes that Dangote cited were part of that response. Pulling in a company of Dangote Cement’s scale, profitability, and brand recognition would give the exchange a meaningful signal to send to other African and emerging-market companies considering international listings.

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Frequently Asked Questions

Is Dangote Cement listing on the London Stock Exchange in 2026? Yes. Aliko Dangote confirmed in a Financial Times interview that Dangote Cement Plc plans a secondary listing on the London Stock Exchange in 2026. The company targets a September timeline, subject to market conditions.

How much of Dangote Cement will be sold in the London listing? Dangote plans to sell approximately 10% of the company’s shares to outside investors as part of the London listing. The company currently carries a valuation of nearly $13 billion.

Why is Dangote listing in London rather than New York? Dangote specifically cited recent reforms by the UK’s Financial Conduct Authority as the deciding factor. The new rules lowered minimum listing requirements and made the London market more accessible and attractive for international companies.

How profitable is Dangote Cement? Dangote Cement reported a pre-tax profit of N421.1 billion for Q1 2026, a 35% rise year-on-year. For the full year 2025, the company posted a pre-tax profit of N1.53 trillion, up 109% from N732.54 billion in 2024.

Is Dangote also listing his oil refinery? Yes. Dangote separately announced plans to list around 10% of the Dangote Refinery on multiple African stock exchanges. The refinery currently operates at 650,000 barrels per day, with expansion plans targeting 1.4 million barrels per day.

What is Aliko Dangote’s net worth in 2026? Bloomberg estimates Dangote’s net worth at approximately $35.4 billion as of May 2026, reflecting a $5.4 billion increase since the start of the year.

Has Dangote Cement tried to list in London before? Yes. The company first explored a London listing around 2018 but did not proceed due to stringent listing requirements at the time and the demands of constructing the Dangote Refinery.