Dangote to list 10% of Ethiopian fertilizer plant on local exchange

Aliko Dangote has announced plans to list at least 10% of his group's Ethiopian fertilizer business on the Ethiopian Securities Exchange. The disclosure was made during an investor roadshow in Addis Ababa on October 15, 2026, where executives also presented a separate share offer for a Nigerian refinery.

The proposed listing involves a manufacturing venture in Gode, southeastern Ethiopia, designed to produce three million tonnes of urea annually. The project is a joint venture between the Dangote Group, which holds a 60% stake, and Ethiopian Investment Holdings, which holds 40%, under an agreement signed in August 2025.

No share price, offer timetable, or final transaction structure has been disclosed. It remains unclear whether the offering will involve newly issued shares, a sale by existing owners, or a combination of both. The venture was initially estimated at $2.5 billion, with subsequent plans expanding the investment scope to include additional energy and pipeline infrastructure.

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