In order to increase its industrial companies and achieve $100 billion in annual revenue by 2030, Dangote Group is pursuing a $45 billion investment program. Dangote Cement is presenting domestically produced cash as a crucial pillar of its next growth phase.
As part of a strategy it refers to as “disciplined, self-funded growth whilst delivering on yield,” Dangote Cement, the group’s main cash-generating division, intends to increase output capacity from 55 million tonnes annually to more than 80 million tonnes.
Strong cash conversion and returns on capital are reported by the cement company as part of the strategy. According to the company’s September 2026 capital-markets presentation on Monday, its cash conversion for the 12 months ending in June 2026 was 89%, and its return on capital employed was 68%.
In the 12 months ending in June 2026, revenue increased by 22% year over year to $3.1 billion. Between 2023 and 2025, adjusted EBITDA grew at a compound annual growth rate (CAGR) of 50%, while revenue grew at a CAGR of 40%.
The numbers give the financial context for Dangote Cement’s growth as it aims to increase capacity without sacrificing shareholder profits. For the 12 months ending in June 2026, the corporation claimed a 5% dividend yield; from 2023 to 2025, the dividend increased at a 22% CAGR.
With its current production assets and logistics infrastructure offering a basis for expansion outside traditional cement, the company’s strategy is also characterised as capital-light. Aggregates, mortars, dry mixes, ready-mix concrete, and precast products are among the cement-based adjacencies that Dangote Cement intends to grow into.
The strategy revolves around its African footprint. Dangote Cement has 55Mta of installed capacity, operates in 11 countries, and sells to 25 nations. In 2025, it achieved three million tonnes of export sales, and 34 cargoes of clinker were sent from Nigeria to Ghana, Cameroon, Côte d’Ivoire, and a third-party customer in Gabon.
69% of FY2025 revenue came from Nigeria, followed by 13% from West Africa, 12% from East Africa, and 8% from Southern Africa. The corporation claimed that due of intercompany transactions, the geographic data did not add up to 100%.
At the steady exchange rate shown in the presentation, Dangote Cement’s income increased dramatically from $1.5 billion in 2023 to $2.4 billion in 2024 and $2.9 billion in 2025 before reaching $3.1 billion in the year ending in June 2026.
In order to facilitate growth, the company also makes use of its extensive logistical and resource base. While its flagship Obajana plant has 16Mta of installed capacity and roughly 1.0 billion tonnes of limestone reserves, it has approximately 4.2 billion tonnes of limestone reserves with an estimated 80-year mining life.
The $45 billion investment plan at the group level goes beyond cement to include petrochemicals, sugar, fertiliser, refining, and other industrial sectors. In addition to its $100 billion revenue goal, Dangote Group is aiming for $30 billion in adjusted EBITDA by 2030.
How effectively Dangote turns its current operations into cash and capitalises on those returns as it grows is the primary financial concern for investors.
The company’s ability to sustain such levels of cash generation and capital efficiency as it approaches capacity of over 80Mta and the Dangote Group as a whole implements its $45 billion investment program will be the next challenge.
“DCP is a unique chance to invest in the generational development of Africa. it is the ideal platform to capture structural trends that will drive Africa’s build-out and the shift in cement demand,” according to the business.
