Lafarge Africa Plc is set to propose a comprehensive, corporate name rebranding, changing its legal identity to HBM Nigeria Plc to reflect the transition in ownership following China’s Huaxin Cement Co.’s acquisition of controlling interest in the 67-year-old cement manufacturer.
“The amendment will affect Clause 1 of the Memorandum of the Association of the Company which will be substituted with the following clause: The name of the Company is HBM Nigeria Plc,” the cement maker disclosed on the Nigerian Exchange, in a filing released April 9.
The company will seek shareholder approval for the proposed name change during its 67th Annual General Meeting scheduled for April 30, 2026, in Lagos. The rebrand constitutes a special resolution requiring formal shareholder authorization, formally redefining its corporate legal standing.
This transformation marks a significant shift following Holcim’s complete exit from Nigeria after more than two decades of operations. Huaxin Cement acquired an 83.81 percent controlling stake in Lafarge Africa from the Holcim Group for approximately $1 billion in a transaction finalized during late 2025. Holcim has divested completely from the Nigerian market to concentrate resources on other strategic regions.
The proposed rebranding reflects Huaxin’s strategic commitment to strengthening its position within Nigeria’s construction materials industry and expanding its continental footprint across Africa.
Lafarge Africa demonstrated robust financial performance throughout the 2025 financial year, providing a strong foundation for the transition. Revenue increased substantially to N1.1 trillion, representing 53 percent growth compared to N696.8 billion in 2024. Profit after tax surged 173 percent to N273 billion from N100.1 billion year-over-year. Operating profit climbed to N392 billion from N193 billion, driven by improved cost management and operational performance optimization.
Earnings per share reached N17, up from N6.22 in the prior year. The company has declared a final dividend of N6.00 per share, contingent on shareholder approval and applicable tax withholding requirements.
Lafarge’s Nigerian operations commenced in 2001 following acquisition of Blue Circle, which included a stake in West African Portland Cement Company (WAPCO), subsequently rebranded as Lafarge Cement WAPCO Plc. Chairman Gbenga Oyebode emphasized that Nigeria’s expanding urbanization, positive growth indicators, and infrastructure development requirements position the nation as offering substantial long-term potential for continued value creation and sustainable industrial expansion.
