Holcim, the Swiss multinational and a global leader in building materials, is exiting the Nigerian market after operating for 65 years. The company has signed an agreement to sell its 83.8% stake in Lafarge Africa to China-based Huaxin Cement for $1 billion. The transaction is part of Holcim’s strategy to focus on high-growth regions and sustainable solutions, such as low-carbon building materials. The deal is expected to be finalized in 2025, subject to regulatory approvals
Lafarge Africa, established in 1959, has been a significant player in Nigeria’s construction sector, operating four plants with a total annual cement production capacity of about 10.5 million tons. Holcim’s departure reflects a shift in focus to markets with higher profitability and strategic alignment
Huaxin Cement, the buyer, is a major player in the global cement industry, with over 300 branches worldwide. The company aims to expand its influence in Africa through this acquisition
