Africa’s richest man, Aliko Dangote, has appointed MTN Group Chief Executive Officer Ralph Mupita to the board of Dangote Fertiliser as the company prepares for a landmark initial public offering (IPO) on the Nigerian Stock Exchange later this year.
Dangote Fertiliser Managing Director Vishwajit Sinha confirmed Mupita’s appointment, signalling a strategic move as the fertiliser business positions itself for expansion and entry into public markets.
Mupita’s inclusion brings high-level capital markets and corporate governance experience to Dangote’s fast-growing fertiliser unit. He previously led the successful 2019 listing of MTN Nigeria, now one of the country’s most valuable companies. Since its listing, MTN Nigeria’s revenues have more than quadrupled, and the company currently boasts a market capitalisation of about US$8.6 billion, making it the Nigerian Exchange’s second-largest stock after BUA Foods.
The appointment comes at a pivotal moment for Dangote Fertiliser, which is seeking to tap public markets to fund ambitious expansion plans. The company currently produces around 3 million tonnes of granulated urea annually from its US$2.5 billion Lagos-based complex and aims to become the world’s largest fertiliser producer by 2028.
To support this goal, Dangote Fertiliser plans to expand its existing Nigerian operations and commence construction of a new production facility in Ethiopia later this year. The Ethiopian plant is expected to strengthen the company’s footprint in East Africa while supporting regional food security and agricultural productivity.
Africa’s fertiliser market is gaining prominence as the continent experiences the world’s fastest population growth. According to the African Development Bank, rising food demand, rapid urbanisation and expanding intra-African trade could see the continent’s agricultural sector grow to more than US$1 trillion by 2030. However, limited access to fertilisers remains a key challenge for many small-scale farmers, constrained by financing gaps, poor infrastructure and underdeveloped markets.
Dangote Fertiliser’s expansion is positioned as a response to these challenges, aiming to reduce Africa’s dependence on imported fertilisers while supporting higher crop yields across the continent.
Mupita has led MTN Group, Africa’s largest mobile network operator, for more than five years, having joined the group in 2017 as chief financial officer. Prior to MTN, he held senior roles at South African financial services group Old Mutual and began his career as a trained engineer. His blend of engineering, finance and capital-markets expertise is expected to bolster Dangote Fertiliser’s governance and investor appeal ahead of its IPO.
Beyond fertiliser, Dangote Industries is also preparing to list its massive oil refinery business, a move Aliko Dangote has previously described as part of a broader strategy to raise capital, deepen transparency and attract institutional investors.
