Africa’s richest man, Aliko Dangote, has reacted to the growing excitement among Nigerians over the ongoing initial public offering (IPO) of his company, as new investors jokingly demand daily updates on their investments.
Dangote spoke in a video shared on social media during a conversation with CNN journalist Larry Madowo, who highlighted the enthusiasm surrounding the IPO and the increasing interest from ordinary Nigerians.
Madowo noted that some Nigerians were already embracing the identity of shareholders, inspecting trucks and visiting cement factories while expecting regular updates on their investments.
“Nigerians are excited about the IPO. They’re inspecting your trucks, they’re at cement factories. Everywhere, they’re like, ‘I’m an investor, I need an update every day,’” Madowo said.
Dangote Explains the Goal of the IPO
Responding to Madowo’s comments, Dangote clarified that the IPO was not intended solely for Nigerian investors, revealing that the offering had attracted significant interest from across Africa.
According to the billionaire, the initiative was designed to increase public participation in the stock market and promote broader wealth distribution across the continent.
“Well, I think this IPO, not only for Nigerians, we’ve got a lot of interest from all over Africa. And we are selling shares. We are trying to bring in democracy to our stock markets,” Dangote said.
He explained that the company was targeting approximately 10 million shareholders, expressing confidence that the goal would be achieved.
Dangote also shared his vision of holding the company’s annual general meetings in a stadium to accommodate its potentially large shareholder base.
“We are looking at having 10 million shareholders. And I’m 100 per cent sure we’ll get 10 million shareholders,” he stated.
Dangote Says IPO Target Has Already Been Reached
The business mogul further disclosed that the company had already raised the amount of money it intended to secure through the IPO.
He explained that the continued offering was primarily focused on broadening ownership and ensuring that the benefits of the company’s growth could reach more people across Africa.
“I mean, we’ve already raised the money that we are looking for. So, this is just to make sure we spread the wealth across the continent. That’s what we are trying to do,” he added.
New Investors Expect Daily Investment Updates
Madowo continued to highlight the excitement among new investors, joking that some people who had invested relatively small amounts were already expecting daily reports on their holdings.
“These new investors, they want daily updates like, ‘I put 5,000 naira, so where’s my update for today?’” the journalist said.
Dangote acknowledged the expectations, noting that investors would ultimately be concerned about the performance of the company’s share price.
“Yes, you know, because, I mean, that’s really what matters to them. But the share price will continue to grow,” he responded.
His comments reflected his confidence in the company’s future performance, although share prices can fluctuate and future returns are not guaranteed.
Dangote Predicts Strong Profitability for the Company
Concluding his remarks, Dangote expressed confidence in the company’s ability to achieve significant financial success across the African continent.
“I can assure you, really, we will be the most profitable company in Africa,” he said.
The ongoing IPO has generated public interest in stock market participation, with Dangote emphasizing the company’s ambition to expand its shareholder base and encourage wider investment across Africa.