Dangote to list 10% of Ethiopian fertiliser business on Africa’s youngest stock exchange
Aliko Dangote will list 10% of Dangote Group’s Ethiopian fertiliser venture on the Ethiopian Securities Exchange (ESX).
In Brief
- •Aliko Dangote will list 10% of Dangote Group’s Ethiopian fertiliser venture on the Ethiopian Securities Exchange (ESX).
- •The fertiliser complex in Gode, Somali Region, is a 60/40 joint venture with Ethiopian Investment Holdings and is slated to produce 3 million metric tonnes of urea per year.
- •Initial investment was $2.5 billion, rising to over $4 billion after scope expansion in May 2026.
- •The project aims to reduce Ethiopia’s dependence on imported fertiliser and could open export opportunities to neighbouring markets.
- •Ethiopian officials welcomed the listing as a model of African enterprises financed by Africans.
Why It Matters
The listing marks a significant step toward deepening African capital markets, allowing local investors to participate in a major industrial project that could boost Ethiopia’s agricultural productivity. By potentially cutting import costs and creating export capacity, the fertiliser complex could strengthen food security and stimulate regional trade. The move also signals Dangote Group’s broader strategy to expand its footprint across Africa’s emerging economies, potentially attracting further investment into the continent’s infrastructure and industrial sectors.
Key Details
- Listing Percentage
- 10%
- Project Stakeholders
- Dangote Group 60%, Ethiopian Investment Holdings 40%
- Initial Investment Estimate
- $2.5 billion
- Revised Investment Estimate
- > $4 billion (May 2026)
- Annual Production Capacity
- 3 million metric tonnes urea
- Location
- Gode, Somali Region, Ethiopia
Original Reporting & Sources
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