Dangote Fertiliser Taps MTN CEO Ralph Mupita for Board Ahead of Planned Nigeria IPO
Dangote Industries has appointed MTN Group Chief Executive Officer, Ralph Mupita, to the board of Dangote Fertiliser Ltd. as the company advances plans to expand operations and pursue a public listing in Nigeria.
The appointment was confirmed by Dangote Fertiliser Managing Director, Vishwajit Sinha, in an email response to enquiries. Mupita’s addition to the board comes at a strategic moment, as Dangote Fertiliser prepares for an initial public offering (IPO) on the Nigerian Exchange this year.
Mupita brings significant capital markets and corporate leadership experience to the board, having led the successful listing of MTN Nigeria in 2019. Since then, MTN Nigeria’s revenue has grown more than fourfold, and the company has become the second most valuable stock on the Nigerian Exchange, with a market capitalisation of about $8.6 billion, behind only BUA Foods Ltd.
Dangote Fertiliser is positioning itself to benefit from Africa’s rapidly expanding agricultural market. The continent hosts the world’s fastest-growing population, and according to the African Development Bank, agriculture could grow into a more than $1 trillion industry by 2030, driven by rising food demand, urbanisation and increased regional trade. Despite this potential, many African farmers continue to face challenges including limited access to finance, infrastructure and markets, underscoring the importance of local fertiliser production.
The company currently produces about three million tonnes of granulated urea annually at its $2.5 billion fertiliser complex in Lagos. Aliko Dangote has previously said the business aims to become the world’s largest fertiliser producer by 2028. To support this ambition, Dangote Fertiliser plans to expand its Lagos facility and commence construction of a new fertiliser plant in Ethiopia later this year.
Mupita has led MTN Group, Africa’s largest wireless carrier, for more than five years, having joined the group in 2017 as chief financial officer before becoming chief executive. Prior to MTN, he held senior roles at South African financial services group Old Mutual Ltd. and began his career as an engineer.
The fertiliser IPO is part of a broader capital markets strategy by Dangote Industries. The group’s founder, Aliko Dangote, has also indicated plans to list its refinery business this year. The proposed public offerings are aimed at raising capital to fund expansion while opening ownership to institutional investors.
With Mupita’s appointment, Dangote Fertiliser signals a strong focus on governance, scale and investor confidence as it prepares to tap the Nigerian capital market and strengthen its position in Africa’s fast-growing agricultural value chain.
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