Swiss Company Holcim Leaves Nigeria To Focus On High-Growth Regions

Holcim, a Swiss company that manufactures cement and building materials, has announced its intention to leave Nigeria, citing its plan to simplify operations and concentrate on high-growth areas and sustainability.

For $1 billion, the company intends to sell Huaxin Cement of China its 83.8% stake in Lafarge Africa Plc.

“Holcim has signed an agreement with Huaxin Cement Ltd to sell its entire 83.81 per cent shareholding in Lafarge Africa PLC, at an equity value of $1billion on a 100 per cent basis. 

“The transaction is expected to close in 2025, subject to customary and regulatory approvals,” Holcim said in a statement.

The choice is in line with Holcim’s objective to give priority to green technologies, higher-margin products, and strategic infrastructure investments.
This includes its most recent partnership with US-based Sublime Systems to invest in low-carbon cement.
Holcim’s departure from Nigeria comes after it sold the majority of its operations in Zambia to Huaxin Cement in 2021.
The action also reflects the changing cement market in Nigeria, which is currently controlled by regional firms like BUA Cement and Dangote Group.
With four plants spread throughout Nigeria and a production capacity of 10.5 million tons annually, Lafarge Africa has been in business since 1959. It has led the way in decarbonizing building materials and promoting green growth.

Leading building solutions company Holcim reported CHF 27 billion in sales in 2023 and has more than 63,000 employees worldwide.
Its buyer, Huaxin Cement, has more than 300 locations worldwide and has more than a century of cement industry experience.