Africa’s Richest Man Retires as Chairman of Dangote Cement

Africa’s richest man, Aliko Dangote, has stepped down as Chairman of the Board of Directors at Dangote Cement Plc, marking the end of an era at one of the continent’s largest cement producers.

In his place, Emmanuel Ikazoboh has been appointed as the new board chairman, according to Premium Times.

Ikazoboh, who previously served as an independent non-executive director, brings more than four decades of senior management experience across Nigeria, Côte d’Ivoire, Cameroon, and South Africa.

Further details about the leadership change and its implications for the company’s strategy are expected in the coming days.

In June, Mr. Dangote stepped down as Chairman of Dangote Sugar Refinery Plc, marking the end of two decades of leadership at one of Nigeria’s most profitable food companies.

The move, according to the company, was “in line with the principles of good corporate governance and succession planning.”

Dangote Cement has played a significant role in transforming Nigeria’s economy. In June, Dangote noted that Nigeria, once the second-largest importer of cement globally, now exports more cement than any other African country, thanks to massive local investment in production capacity.

Dangote Cement remains Africa’s largest cement producer, with a total installed capacity of 48.6 million metric tonnes per annum (Mt/a) across the continent.

Of this, 32.3 Mt/a is located in Nigeria, while the remaining 16.3 Mt/a spans nine other African countries: Tanzania, South Africa, Ethiopia, Cameroon, Republic of Congo, Ghana, Senegal, Zambia, and Sierra Leone.

In March, the company announced it had resumed construction of the $800 million cement plant in Itori, Ewekoro Local Government Area. The 6-million-Mt/a factory is expected to be completed by November 2026.