Dangote Industries, the conglomerate owned by Africa’s richest man Aliko Dangote, has appointed Ralph Mupita, Chief Executive Officer of MTN Group, to the board of its fertilizer subsidiary as the company prepares for a major expansion and a planned listing on the Nigerian Stock Exchange. Mupita’s appointment was confirmed by Vishwajit Sinha, Managing Director of Dangote Fertilizer, in an email response to media inquiries.
The addition of such a high-profile executive is a strategic move ahead of Dangote Fertiliser’s planned initial public offering (IPO) later this year. Mupita brings significant capital markets experience, having successfully led the 2019 listing of MTN Nigeria, which has since become one of the exchange’s standout performers. The MTN unit now generates revenue more than four times what it did at the time of listing and, with a market capitalization of $8.6 billion, is the second-largest company on the Nigerian Stock Exchange after BUA Foods.
Africa’s rapidly rising population, projected to be the fastest-growing globally, combined with accelerating urbanization and expanding regional trade corridors, is set to propel the continent’s agriculture industry to over $1 trillion in value by 2030, according to the African Development Bank. This growth trajectory presents a substantial opportunity for fertilizer manufacturers, though challenges such as limited farmer financing, inadequate infrastructure, and market fragmentation remain widespread.
Dangote Fertilizer currently produces around 3 million tones of granulated urea annually, and according to earlier statements by Dangote, it aims to become the world’s largest fertilizer producer by 2028. Achieving this scale will require significant expansion of its $2.5 billion manufacturing complex in Lagos. The company also intends to begin constructing a new fertiliser plant in Ethiopia this year as part of its broader continental strategy.
Ralph Mupita has served as CEO of Africa’s largest telecoms operator for more than five years. He joined MTN Group in 2017 as Chief Financial Officer after holding key leadership roles at the financial services giant Old Mutual. Trained originally as an engineer, he has built a reputation for guiding complex, large-scale operations and navigating regulatory environments across Africa.
Dangote Industries is also planning an IPO for its massive refinery business later this year, according to earlier statements from the group’s founder. These listings are expected to help the conglomerate raise fresh capital and broaden ownership to include more institutional investors.
