Africa’s richest man and owner of Dangote Cement, Alhaji Aliko Dangote, has reiterated his intention to list the company on the London Stock Exchange (LSE), following a meeting with the UK Prime Minister Theresa May in Lagos. May was in Nigeria as part of a multi-stop trade tour of African nations ahead of the UK’s departure from the European Union in March 2019. Dangote Cement is worth an estimated US$7bn.
During the visit May said, “Already the finance and business links between Lagos and London are bringing enormous benefits to businesses and people in the UK and in Nigeria. London is a world-leading financial centre and, as the UK leaves the European Union, it will play an even greater role in financing the fastest-growing economies across Africa and the world.”
UK-Nigeria trade was worth £4.2billion last year and British companies including British Airways, GSK, Shell, Diageo, Unilever and Standard Chartered have successful long-established operations in Nigeria – many dating to the 1930s. A total of 111 African companies have already come to the UK to list on the Stock Exchange.