Africa Finance Corporation (AFC) Backs US$7 Billion Dangote Fertiliser Expansion to Strengthen Africa’s Food Security

As a cornerstone commitment to the programme, AFC is providing a US$600 million facility to Greenview Fertiliser Corp. (Greenview), Dangote’s fertiliser holding company. The transaction deepens AFC’s longstanding partnership with Dangote Group across some of Africa’s most consequential industrial projects. AFC was Co-Coordinating Bank on a US$3 billion syndicated loan for Dangote Refinery and recently received full repayment of its foundational US$300 million senior term loan to Dangote Industries Limited, which helped advance the refinery from concept to reality. The redeployment at double this amount into Dangote Group underscores AFC’s model of providing early-stage risk capital before recycling into the next generation of transformative projects once assets reach stable, cash-generative operations.

The fertiliser investment positions Africa to get ahead of structural trends shaping long-term development priorities, including rapid population growth, rising food demand, climate-related pressures on agricultural systems and the need to capture greater value from natural resources. Recent disruptions to global supply chains and commodity markets have further underscored the risks associated with dependence on imported agricultural inputs. Despite holding some of the world’s largest natural gas reserves and a quarter of its uncultivated arable land, Africa remains reliant on imported fertilizer, making expanded production critical to food security and agricultural resilience.

Dangote’s expansion programme is projected to increase urea fertiliser production capacity in Nigeria from 3 million metric tonnes per annum (“MTPA”) to 9 MTPA, while adding a new 3 MTPA urea fertiliser plant in Ethiopia. It is expected to strengthen regional food security, support agricultural productivity, reduce dependence on imported fertilizer and bolster the continent’s position as a supplier to international markets.

Commenting on the transaction, Aliko Dangote, President and Chief Executive of Dangote Industries Limited, said: “This investment marks another important milestone in our long-standing partnership with AFC as we embark on the next phase of Dangote Fertilizer’s growth. Expanding our fertiliser production capacity in Nigeria and developing a new plant in Ethiopia will strengthen Africa’s food security, support agricultural productivity, and deepen the continent’s industrial base. AFC has consistently supported Dangote Group at critical stages of our growth, and its renewed commitment reflects confidence in our vision to build globally competitive African industrial platforms”.