Lafarge Africa Rebrands as HBM Nigeria

Lafarge Africa has officially changed its name to HBM Nigeria Plc, following its acquisition by Chinese investors from the Holcim Group. The company announced the development in a regulatory filing released on Tuesday.

According to the cement manufacturer, the HBM Nigeria Plc name reflects its long-term vision and commitment to creating greater value for stakeholders. The company stated that shareholders overwhelmingly approved the change during its Annual General Meeting held on April 30, 2026.

“The name change received full shareholder approval at the Annual General Meeting (AGM) held on the 30th of April 2026,” the company stated.

The company also confirmed that the Corporate Affairs Commission (CAC) has completed the approval process and issued a new Certificate of Incorporation reflecting the updated name.

The rebranding follows a major ownership change that began in December 2024 when the Switzerland-based Holcim Group signed an agreement with Huaxin Cement, a Chinese cement producer headquartered in Wuhan, to acquire an 83.1 per cent stake in the business. Before the transaction, Holcim maintained control through Caricement BV and Associated International Cement Limited.

The acquisition, valued at approximately $1 billion (₦1.6 trillion), faced several regulatory challenges before it was completed in August 2025. One of the concerns raised during the process came from Senator Shuaib Salisu, who questioned the growing level of foreign ownership within Nigeria’s cement industry.

“We cannot afford to wake up one day and realise that our cement industry, one of the backbones of our economy, is entirely in foreign hands,” he said.

Since the takeover, the new owners have announced plans to expand production capacity at the Ashaka Cement plant in Gombe and the Shagamu plant in Ogun State. Meanwhile, HBM Nigeria Plc assured investors that all existing share certificates and electronic holdings remain valid and will be updated automatically by the company’s registrars.