Holcim Exits Nigeria After 65 Years, Sells Lafarge Africa Stake to China’s Huaxin Cement for $1 Billion

Swiss cement and building materials giant Holcim has announced its exit from Nigeria, citing a strategic focus on high-growth regions and sustainability. The company has agreed to sell its 83.8% stake in Lafarge Africa Plc to China’s Huaxin Cement for an equity value of $1 billion on a 100% basis.

Holcim’s decision aligns with its strategy to streamline operations, prioritize higher-margin products, and invest in sustainable solutions. This includes recent commitments to low-carbon cement technologies through partnerships like its collaboration with US-based Sublime Systems.

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

Holcim’s exit reflects the evolving dynamics of Nigeria’s cement industry, which is now dominated by local giants such as Dangote Group and BUA Cement. The move follows Holcim’s 2021 sale of its Zambian operations, also to Huaxin Cement.

Lafarge Africa, established in 1959, operates four plants across Nigeria with a production capacity of 10.5 million tons annually. The company has been a key player in promoting green growth and decarbonization in the building materials sector.

Huaxin Cement, a century-old Chinese cement manufacturer with over 300 branches worldwide, will acquire Lafarge Africa as part of its global expansion strategy.

Holcim, a global leader in sustainable building solutions, reported CHF 27 billion in sales in 2023 and employs over 63,000 staff globally. The company’s Nigerian operations have been an integral part of its presence in Africa for over six decades.

With this transaction, Holcim continues its pivot toward strategic markets and sustainable infrastructure, while Huaxin Cement strengthens its foothold in Africa.