Lafarge Africa has reiterated its commitment to Nigeria’s economic and infrastructure development following the recent acquisition by Huaxin Cement
The company made the announcement after Holcim agreed to sell 83.81% of its shareholding in Lafarge Africa to Huaxin Cement. This move has been labelled a “significant milestone” by Lafarge Africa, and one that heralds in a new chapter for the company to deepen its impact and reinforce its position in the West African country.
‘’This development will further solidify Lafarge Africa's position as a leading contributor to Nigeria’s infrastructure and economic growth,” remarked Gbenga Oyebode, chairman, Lafarge Africa Plc. “Nigeria’s market holds vast potential with its positive growth indices, increasing urbanisation, and infrastructure demand. We remain committed to leveraging these opportunities while maintaining our focus on sustainability and innovation.”
Lolu Alade-Akinyemi, CEO of Lafarge Africa, added, "Our journey in Nigeria for the past 65 years has been one of resilience, collaboration, and consistent growth. Our market position and long-term market potential are promising. This transition provides an opportunity for Lafarge Africa to continue growing and evolving, supported by the investment and global expertise of Huaxin Cement Ltd. We will remain steadfast, delivering value to our customers, sustaining our upward momentum, and ensuring a smooth transition for everyone.”
For its part, Huaxin Cement has expressed optimism and excitement opportunity to work with Lafarge Africa and Nigeria. Gang Xu, vice president of Huaxin Cement, commented, “Leveraging the knowledge and experience of the management and staff of the company, combined with our experience gained from the operation of more than 60 cement plants, and other businesses, in 12 countries – including 7 in Africa – we will devise plans for the further growth of Lafarge Africa. Together, we will build on the proud and long history of Lafarge Africa and will honour its legacy by bringing it to the next level of development.”