Africa’s richest man Aliko Dangote has appointed Zimbabwe-born MTN group chief executive Ralph Mupita to the board of Dangote Fertiliser, as the conglomerate prepares to list the business on the Nigerian Stock Exchange this year.
The appointment adds heavyweight capital markets experience to Dangote Fertiliser’s board at a critical time, with the company pursuing expansion across Africa and seeking to unlock new funding through an initial public offering.
Dangote Fertiliser managing director Vishwajit Sinha confirmed Mupita’s appointment, describing it as part of efforts to strengthen governance and position the business for public markets.
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Mupita, who has led Africa’s largest mobile network operator for more than five years, is widely credited with spearheading the successful 2019 listing of MTN Nigeria, now one of the country’s most valuable companies with a market capitalisation of about US$8.6 billion. Under his leadership, MTN Nigeria’s revenues have more than quadrupled, cementing its place as a bellwether stock on the Lagos bourse.
Dangote Fertiliser’s planned IPO comes as the group accelerates its push into agriculture-linked industries, betting on Africa’s rapidly growing population and rising food demand. According to the African Development Bank, agriculture on the continent could grow into a US$1 trillion industry by 2030, creating strong long-term demand for fertiliser, despite ongoing challenges around farmer financing, infrastructure and market access.
Currently producing about three million tonnes of granulated urea annually, Dangote Fertiliser is already one of the largest producers on the continent. The company plans to expand its US$2.5 billion fertiliser complex in Lagos and begin construction of a new facility in Ethiopia this year, with the ambition of becoming the world’s largest urea producer by 2028.
Mupita joined MTN Group in 2017 as chief financial officer before being appointed chief executive. Prior to MTN, he held senior roles at South Africa’s Old Mutual and trained originally as an engineer, bringing both financial and operational depth to boards he serves on.
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