Africa: Lafarge Africa to Become Hbm Nigeria After Huaxin Takeover

13 May 2026
Daba Finance (Abidjan)

Lafarge Africa Plc shareholders have approved a plan to rename the cement maker HBM Nigeria Plc, marking the formal shift to its new Chinese majority owner.

The decision was approved at the company's annual general meeting on April 30, 2026. The board was authorized to amend the company's articles and take the steps needed to complete the name change. HBM stands for Huaxin Building Materials.

The rebrand follows Holcim's agreement in December 2024 to sell its almost 84% stake in Lafarge Africa to Huaxin Cement in a deal valued at about $1 billion. Huaxin is one of the world's largest cement producers and has been expanding across Africa.

Lafarge Africa enters the new phase with strong earnings. Revenue rose 53% to N1.1 trillion in 2025, crossing the N1 trillion mark for the first time. Profit for the year rose to about N273 billion, from N100 billion in 2024. Profit before tax climbed 170% to N411 billion.

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The stock has also gained since the acquisition was announced, rising from about N58 in December 2024 to about N226. The name is changing, but the strategy remains centered on cement demand, infrastructure growth and Huaxin's plan to expand its African building materials platform.

Key Takeaways

Lafarge Africa's name change is more than a brand update. It confirms a wider shift in Africa's cement industry, where Chinese groups are becoming more active buyers of large manufacturing assets. For Huaxin, Nigeria offers scale, population growth, housing demand and infrastructure spending. For Lafarge Africa, the new owner brings capital, technical know-how and a broader African expansion playbook. The company is also entering the transition from a strong financial position, with record revenue, higher margins and a debt profile that gives it room to invest. The risk is that cement remains exposed to energy costs, exchange rates, logistics constraints and weak consumer purchasing power. Investors will also watch whether Huaxin keeps governance and disclosure standards at the level expected from a listed company. If the transition works, HBM Nigeria could become a stronger regional cement platform. If it fails, the rebrand will not be enough to protect margins in a competitive Nigerian market.

Read the original article on Daba Finance.

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