I have an African paid subscription so I cannot share the article I received today that makes reference to the African conglomerate referred to by ELM in their last announcement could well be Nigeria’s Dangote group owned by mogul Aliko Dangote.
ELM announced that they were in discussions with a very large African conglomerate who have recently entered the fertilizer scene through a major investment.
If you google "very large African conglomerate fertilizer", the first websites that come up refer to Dangote.
What a Strategic partner Dangote could be for ELM. An African partner would be ideal and given the size of this company, funding would be very achievable.
Alika Dangote, the CEO and President of Dangote is Africa's richest man worth $31 billion. He has emerged as the 23rd richest man on the 2014 Forbes Billionaire's list.
The Dangote Group is the largest industrial conglomerate in West Africa and one of the largest in Africa. It generated revenue in excess of US$2 billion in 2011. The group is one of the leading diversified business conglomerates in Africa. It employs in excess of 21,000 people.
In September, Africa’s richest businessman announced a $3.3bn financing deal to build the continent’s largest oil refinery, petrochemical and fertiliser plant on Nigeria’s Atlantic coast. The total cost of the project is estimated at more than $9bn, potentially making it one of the largest standalone investments in sub-Saharan Africa to date.
The Dangote Group is a diversified conglomerate, headquartered in Lagos, Nigeria, with interests across a range of sectors in Africa. Current interests include cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in the oil and Natural gas, telecommunications, fertilizer and steel. The Group focuses on provision of local, value-added products and services that meet the needs of the African population. Dangote Cement, the largest cement production company in Africa, with a market capitalization of almost US$14 billion on the Nigeria Stock Exchange, has subsidiaries in Benin, Cameroon, Ghana, Nigeria, South Africa and Zambia. In December 2010, the group signed an agreement with the Government of Zambia to construct a US$400 million cement plant in Zambia. Once completed in June 2013, as anticipated, the new plant is expected to have an annual output of 1.5 million metric tonnes of cement.
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