Dangote Industries has appointed Ralph Mupita, Chief Executive Officer of MTN Group, to the board of Dangote Fertiliser Limited, the conglomerate’s flagship fertiliser business.
The appointment comes as Dangote Fertiliser prepares for expansion and a planned initial public offering (IPO) on the Nigerian Exchange (NGX) later this year. According to Vishwajit Sinha, Managing Director of Dangote Fertiliser, Mupita’s experience in capital markets and corporate governance will be instrumental in supporting the company’s growth ambitions.
Mupita is widely recognized for his role in the successful 2019 listing of MTN Nigeria, one of the country’s largest stock market deals. His inclusion on Dangote Fertiliser’s board is expected to strengthen investor confidence ahead of the IPO.
Dangote Fertiliser currently produces around 3 million tonnes of urea annually at its Lagos facility and aims to become the world’s largest fertiliser producer by 2028. Expansion plans include increasing production capacity in Lagos and establishing a new plant in Ethiopia, in line with the company’s strategy to meet Africa’s growing agricultural demand.
The fertiliser sector is critical to Africa’s agricultural productivity, and the company’s planned IPO is seen as a major step in attracting both local and international investors to support continental food security initiatives. Visit www.jocomms.com for more news.