Dangote Industries, owned by Africa’s richest man, appointed MTN Group Chief Executive Officer Ralph Mupita to the board of its fertiliser business as it prepares to expand and list the operation in Nigeria.
Dangote Fertiliser Managing Director Vishwajit Sinha confirmed Mupita’s appointment in an email response to questions.
The high-profile hire to Aliko Dangote’s stable comes as Dangote Fertiliser plans an initial public offering on the Nigerian Stock Exchange this year.
Mupita spearheaded the listing of MTN’s unit in the West African nation in 2019, a business whose revenue has more than quadrupled since. With a market value of $8.6 billion, it’s the bourse’s biggest company after BUA Foods.
Africa is home to the fastest-growing population worldwide. Rising food demand, urbanisation and expanding regional trade could see agriculture grow to beyond $1 trillion by 2030, according to the African Development Bank.
This creates a huge market for fertiliser firms on
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