Africa’s richest man Aliko Dangote gains $2.76 billion as cement shares surge

As his conglomerate, Dangote Industries Limited, rolls out its Vision 2030 plan to build a $100 billion enterprise by the end of the decade, Africa’s richest man, Aliko Dangote, is starting the year on stronger financial footing. The Nigerian businessman has added $2.76 billion to his fortune since January, underscoring investor confidence in his core assets.

Africa’s richest builds $32.7 billion fortune

According to the Bloomberg Billionaires Index, Dangote’s net worth has climbed from $30 billion on Jan. 1, 2026, to $32.7 billion at the time of writing. The 68-year-old founder and chairman of Dangote Industries Limited remains Africa’s richest person and the richest Black person globally, now ranking 75th on the global wealth list.

The latest gains build on a steady rise last year. His fortune increased from $28.1 billion on Jan. 1, 2025, to $30 billion by Dec. 31, 2025. Much of the recent increase reflects the performance of Dangote Cement, where he holds an 87.45 percent stake. Investors are positioning ahead of the company’s full-year 2025 results after a strong nine-month showing.

Shares of Dangote Cement on the Nigerian Exchange are up 31.3 percent year to date. The rally has pushed the company’s market capitalization to N13.24 trillion ($9.71 billion), lifting the value of Dangote’s stake to $8.71 billion and helping drive his net worth to $32.7 billion.

Dangote Cement earnings surge; rivals invest

Operationally, the company remains a heavyweight boasting an installed capacity of 55 million tonnes per annum across the continent, including 35.25 million tonnes in Nigeria. For the nine months ended September 2025, Dangote Cement’s revenue rose 23.2 percent to N3.15 trillion ($2.31 billion), its profit after tax also increased 166.3 percent to N743.3 billion ($546 million).

Volumes, however, dipped 2.1 percent to 20.2 million tonnes, reflecting softer demand in some markets. Even so, the group expanded exports, dispatching 27 ships of clinker from Nigeria to Ghana and Cameroon. Cement and clinker exports from Nigeria rose 23 percent to 1.1 million tonnes. The company also introduced 1,600 compressed natural gas trucks to curb fuel costs and improve margins.

Competition is tightening. Lafarge Africa plans to expand capacity at its Ashakacem plant in Gombe State and its Sagamu plant in Ogun State, doubling Ashakacem’s output to 2 million tonnes and raising Sagamu’s capacity to 3.5 million tonnes. Meanwhile, BUA Cement is pursuing a $240 million expansion to lift capacity to 20 million tonnes, including a new power plant and supporting infrastructure.