AFC commits $600 million to support Dangote’s $7 billion fertilizer expansion across Africa

Africa Finance Corporation (AFC) has committed $600 million to Dangote Group’s $7 billion fertilizer expansion program, which aims to increase Africa’s domestic fertilizer production and enhance food security. The funds will be provided to Greenview Fertiliser Corp., Dangote’s fertilizer holding company, as part of a broader strategy to expand manufacturing in Nigeria and build a new facility in Ethiopia.

Dangote plans to increase Nigeria’s annual urea production capacity from 3 million to 9 million metric tons and build a 3 million metric ton per year urea plant in Ethiopia. These projects are expected to reduce Africa’s reliance on imported fertilizers, boost agricultural productivity, and strengthen the continent’s position in global fertilizer markets. AFC stated that the investment addresses long-term challenges such as population growth, rising food demand, climate pressures, and supply chain disruptions.

Dangote President and CEO Aliko Dangote stated that the investment marks the next phase of the company’s fertilizer growth strategy and demonstrates AFC’s ongoing support for its industrial projects. AFC President and CEO Samaila Zubairu noted that Africa consumes about 6 million metric tons of urea annually, compared to 40 million in India and 50 million in China, despite similar population sizes. He emphasized that expanding domestic fertilizer production is essential for food security, job creation, and strengthening Africa’s industrial base.

This financing extends AFC’s long-standing partnership with Dangote Group. AFC previously served as co-coordinating bank for the $3 billion syndicated financing of the Dangote Refinery and provided a $300 million senior term loan for its development. Since 2007, AFC has invested over $19 billion in 36 African countries, focusing on infrastructure, industrial development, energy, transport, logistics, and food security.