Lafarge Africa Poised For Growth As Holcim Completes $1 Billion Sale To Huaxin Cement.
Swiss building materials giant Holcim has successfully completed the sale of its 83.81% stake in Lafarge Africa Plc to China’s Huaxin Cement for $1 billion, marking a significant milestone for Nigeria’s cement industry. The transaction, finalised on 29 August 2025, signals Holcim’s strategic exit from Nigeria after 65 years, while paving the way for Lafarge Africa to thrive under new ownership, promising enhanced innovation and sustainability in the sector.
The deal, first announced in December 2024, aligns with Holcim’s global strategy to streamline its portfolio and focus on high-growth markets, such as North America, where it plans to list its business in 2025. Martin Kriegner, Holcim’s Regional Head for Asia, Middle East, and Africa, expressed confidence in Huaxin Cement’s ability to drive Lafarge Africa’s future. “We are pleased to have found a trusted buyer committed to further developing the business in Nigeria. This sale provides Holcim with additional capital to invest in sustainable growth opportunities,” Kriegner said.
Lafarge Africa, a cornerstone of Nigeria’s construction sector since 1959, operates four plants across Ogun, Gombe, and Cross River States, with a combined cement production capacity of approximately 10.5 million tonnes per annum. The company’s facilities, including the Mfamosing plant in Cross River and the Ashaka plant in Gombe, have been pivotal in supporting Nigeria’s infrastructure development. Huaxin Cement, one of China’s top cement manufacturers, is expected to leverage this robust infrastructure to expand production and introduce innovative building solutions.
Gbenga Oyebode, Chairman of Lafarge Africa, hailed the transition as a new chapter for the company. “This development strengthens our position as a leading contributor to Nigeria’s economic and infrastructure growth. With Nigeria’s increasing urbanisation and demand for sustainable construction, we are committed to delivering value through innovation,” he said. The company’s focus on sustainability, including its geocycle and mortar plants in Ogun State, aligns with global trends towards decarbonised building solutions.
The sale comes amidst Nigeria’s competitive cement market, dominated by local giants Dangote Cement and BUA Cement. Analysts suggest Huaxin’s entry could spark greater competition, potentially leading to improved pricing and supply dynamics for consumers. Despite earlier legal challenges from a minority shareholder citing regulatory concerns, the transaction overcame hurdles and secured necessary approvals, reinforcing confidence in Nigeria’s investment climate.
Residents and industry stakeholders have welcomed the news, seeing it as an opportunity for job creation and technological advancements in the sector. Local community leader Aisha Mohammed in Ewekoro expressed optimism, stating, “Lafarge has been a vital part of our community. With Huaxin’s investment, we hope to see more opportunities for our youth and continued support for local projects.” The company’s recent partnership with the Ogun State Government to plant one million trees across 20 local government areas further underscores its commitment to sustainable development.
As Huaxin Cement takes the helm, Lafarge Africa is well-positioned to contribute to Nigeria’s urbanisation and infrastructure boom, ensuring a brighter, more sustainable future for the nation’s construction industry.