By Emmanuel Kwada
In a significant move, Swiss cement and building materials manufacturer Holcim has announced its exit from Nigeria after 65 years of operation. The company has signed an agreement to sell its 83.8% stake in Lafarge Africa Plc to China’s Huaxin Cement for $1 billion.
The company aims to prioritize higher-margin products, strategic infrastructure investments, and green technologies
The decision aligns with Holcim’s strategy to focus on high-growth regions and sustainability. The company aims to prioritize higher-margin products, strategic infrastructure investments, and green technologies.
Holcim’s exit from Nigeria follows its 2021 disposal of its majority stake in Zambian operations, also to Huaxin Cement. The move reflects Nigeria’s evolving cement market, now dominated by local players like Dangote Group and BUA Cement.
Lafarge Africa, operational since 1959, has four plants across Nigeria and a production capacity of 10.5 million tons per annum
Lafarge Africa, operational since 1959, has four plants across Nigeria and a production capacity of 10.5 million tons per annum. The company has been at the forefront of green growth and decarbonization in building materials.
The transaction is expected to close in 2025, subject to customary and regulatory approvals. Huaxin Cement, the buyer, has over a century of experience in the cement industry and operates across more than 300 branches globally.
