Dangote Industries has appointed MTN Group Chief Executive Officer, Ralph Mupita, to the board of Dangote Fertiliser Limited, as the company moves to expand operations and prepare for a stock market listing.
The Managing Director of Dangote Fertiliser, Vishwajit Sinha, confirmed the appointment in an email response to enquiries from Bloomberg. The development comes as the group plans to list the fertiliser business on the Nigerian Exchange (NGX), with an initial public offering expected later this year.
Industry observers view Mupita’s appointment as a strategic move ahead of the proposed IPO. Dangote Fertiliser currently produces about three million metric tonnes of granulated urea annually from its $2.5 billion production complex in Lagos and has outlined plans to become the world’s largest fertiliser producer by 2028.
Mupita brings extensive experience in capital markets and corporate governance, having led the landmark listing of MTN Nigeria on the NGX in 2019. Since then, MTN Nigeria’s revenues have grown more than fourfold, and the company has become one of the exchange’s most valuable stocks, with an estimated market capitalisation of about $8.6 billion.
He has led MTN Group, Africa’s largest telecommunications operator by subscriber base, for more than five years, after joining the company as Chief Financial Officer in 2017. Before MTN, he held senior roles at South African financial services firm Old Mutual and is an engineer by training.
As part of its growth strategy, Dangote plans to expand its Lagos fertiliser facility and begin construction of a new plant in Ethiopia this year, strengthening its presence across Africa. The group has also indicated plans to list its refinery business, as part of efforts to raise fresh capital, improve transparency and broaden ownership among local and international investors.
Mupita’s appointment comes amid rising demand for agricultural inputs across Africa. With the continent’s rapidly growing population, the African Development Bank estimates that agriculture could exceed a $1 trillion market by 2030, presenting significant opportunities for large-scale fertiliser producers such as Dangote Fertiliser.