Africa Finance Corporation (AFC) and Dangote Group have formalised a US$600 million financing facility for Greenview Fertiliser Corp, the fertiliser holding arm of Dangote Group, as part of a broader US$7 billion expansion strategy designed to significantly scale production capacity and strengthen Africa’s agricultural input supply chain. 

The agreement, announced through institutional statements, reinforces a long-standing financial partnership between the two organisations in large-scale infrastructure and industrial development projects.

According to officials involved in the transaction, the funding will contribute to expanding urea fertiliser production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while also supporting the development of a new 3 MTPA fertiliser plant in Ethiopia. The initiative is positioned as a strategic response to persistent supply gaps in fertiliser markets across the continent.

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, described the financing as a continuation of the group’s industrial growth strategy. 

"This investment marks another important milestone in our long-standing partnership with AFC as we embark on the next phase of Dangote Fertilizer's growth,” he said. "Expanding our fertiliser production capacity in Nigeria and developing a new plant in Ethiopia will strengthen Africa's food security, support agricultural productivity, and deepen the continent's industrial base.”

AFC President and Chief Executive Officer Samaila Zubairu highlighted the broader demographic and economic pressures driving the investment decision. "The question before Africa is simple: how will we feed 2.5 billion people by 2050?” he said. 

He noted that fertiliser consumption levels in Africa remain significantly lower than in Asia, adding that bridging this gap is essential for long-term food security and economic resilience. Lamaane News Network was informed that AFC views the project as part of a wider strategy to recycle capital into transformative industrial developments across the continent.

The expansion comes amid increasing global volatility in agricultural supply chains and rising concerns over food security. Africa holds substantial natural gas reserves and a significant share of uncultivated arable land, yet remains heavily dependent on imported fertiliser inputs, according to sector data cited by officials.

The programme is expected to reshape regional fertiliser trade flows and reduce import dependency while positioning Nigeria and Ethiopia as key production hubs. Analysts say the scale of investment reflects a broader shift toward industrial self-sufficiency in critical agricultural inputs across Africa.

The financing agreement also builds on previous collaborations between AFC and Dangote Group, including syndicated lending arrangements supporting major refinery infrastructure projects, underscoring a continued focus on large-scale industrial financing across the region.