By: Nana Appiah Acquaye
MTN
Group Chief Executive Officer Ralph Mupita has been appointed to the board of
Dangote Fertiliser Ltd by Dangote Industries as the company prepares to expand
operations and pursue a listing on the Nigerian Exchange.
The
appointment was confirmed by Dangote Fertiliser Managing Director Vishwajit
Sinha, who said Mupita has joined the board at a time when the business is
positioning itself for an initial public offering expected later this year.
Dangote
Fertiliser’s planned IPO comes as the company looks to leverage Mupita’s
capital markets experience, particularly his role in spearheading the
successful listing of MTN Nigeria in 2019. Since that listing, MTN Nigeria has
seen its revenue grow more than fourfold and has become the second most
valuable company on the Nigerian Exchange, with a market capitalization of
about $8.6 billion.
Owned
by Africa’s richest man, Aliko Dangote, Dangote Fertiliser is a key part of the
group’s industrial portfolio. The company currently produces approximately 3
million tonnes of granulated urea annually and has outlined plans to become the
world’s largest fertiliser producer by 2028.
