Holcim, one of the world’s largest building materials companies, has finalised its exit from Nigeria with the sale of its 83.81% majority stake in Lafarge Africa Plc to Huaxin Cement. The transaction, valued at $1 billion on a 100% equity basis before dividend adjustments, is among the most significant deals in Nigeria’s cement industry in recent years.
The move signals the end of Holcim’s decades-long presence in Africa’s biggest economy, while opening the door for Huaxin Cement, a top Chinese producer, to expand aggressively into West Africa. The acquisition hands Huaxin control of Lafarge Africa’s strong cement and ready-mix operations, positioning the company to play a central role in Nigeria’s infrastructure and housing development.
“We are pleased to have found in Huaxin Cement a trusted buyer that is committed to further developing the business in Nigeria. At the same time, the sale proceeds give Holcim additional capacity for our growth-focused capital allocation. We wish Lafarge Africa Plc and Huaxin Cement continued success.” Martin Kriegner, Regional Head Asia, Middle East & Africa, emphasised.
Analysts say Holcim’s divestment reflects a broader trend of multinational portfolio reshuffling in Nigeria, as global firms rethink exposure amid economic reforms and rising costs. However, the deal highlights renewed foreign investor confidence, with Asian players taking a bigger stake in Nigeria’s industrial growth story.
