Africa’s richest man, Aliko Dangote, has stepped down as Chairman of the Board of Dangote Cement Plc, bringing an end to a historic tenure at the helm of the continent’s largest cement producer.

In a statement issued on Friday, the company confirmed that Emmanuel Ikazoboh, a former independent non-executive director with over 40 years of experience in senior management roles across Nigeria, Côte d’Ivoire, Cameroon, and South Africa, has been appointed to succeed him.

The retirement marks another major transition within the Dangote Group, coming just weeks after Dangote stepped down as Chairman of Dangote Sugar Refinery Plc in June 2025.

The move, according to the company, aligns with “principles of good corporate governance and succession planning.”

Dangote Cement has played a key role in Nigeria’s economic transformation. Under Dangote’s leadership, the company spearheaded efforts that shifted the country from one of the world’s largest cement importers to Africa’s leading exporter.

In remarks made earlier in June, Dangote highlighted the success of the group’s local investment strategy, stating that “Nigeria, once the second-largest importer of cement globally, now exports more cement than any other African country.”

Dangote Cement currently boasts a total installed production capacity of 48.6 million metric tonnes per annum (Mt/a), with 32.3 Mt/a located in Nigeria and the remaining 16.3 Mt/a spread across nine other African countries, including Tanzania, South Africa, Ethiopia, Cameroon, Republic of Congo, Ghana, Senegal, Zambia, and Sierra Leone.

The company is also pushing ahead with expansion. In March 2025, Dangote Cement resumed construction on an \$800 million, 6-million-Mt/a cement plant in Itori, Ewekoro Local Government Area of Ogun State. The factory is expected to be completed by November 2026.

Meanwhile, at Dangote Sugar Refinery Plc, the Board appointed Arnold Ekpe—a former Group CEO of Ecobank and a seasoned boardroom figure—as chairman effective June 16, following Dangote’s exit.

“We welcome Mr. Ekpe to his new role and look forward to the next chapter in our company’s journey under his leadership,” the refinery said in a statement. “We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence.”

Though stepping back from direct chairmanship roles, Dangote is expected to retain an oversight and strategic influence within the broader Dangote Group, particularly as the conglomerate continues to strengthen its domestic production capacities across sectors including cement, sugar, oil, and gas.