Lafarge Africa Plc will seek shareholder approval to change its corporate identity to “HBM Nigeria Plc” at its 67th Annual General Meeting (AGM) scheduled for April 30, 2026, in Lagos, in what signals a potential strategic repositioning for one of Nigeria’s largest cement manufacturers.
The proposed rebranding, disclosed in a filing to the Nigerian Exchange (NGX) on Thursday, April 9, forms part of an AGM agenda that also includes consideration of audited financial statements, dividend approval, and board restructuring.
According to the notice, the name change is a special resolution requiring shareholder approval and will, if passed, result in an amendment to Clause 1 of the company’s Memorandum of Association, effectively redefining its legal and corporate identity.
“The proposed change of name from Lafarge Africa Plc to HBM Nigeria Plc is subject to shareholder approval by special resolution,” the company stated, adding that “the amendment will affect Clause 1 of the Memorandum of Association to reflect the new corporate identity.”
The company further disclosed that its register of members and transfer books will be closed from April 6 to April 10, 2026, to enable the updating of records for dividend payment purposes. It added that dividends, if approved, will be paid on April 30, 2026, to eligible shareholders.
Beyond the proposed rebranding, the AGM will also address routine governance issues, including the approval of financial statements and the election of directors, as part of its statutory compliance obligations.
Market observers say the planned name change, if approved, could mark a significant inflection point in the company’s corporate trajectory, coming at a time when it has been consolidating operational gains and strengthening its market position in Nigeria’s cement industry.
The rebranding would represent the fourth major identity shift in the company’s corporate history. It began as the West Africa Portland Cement Company (WAPCO), before transitioning to Lafarge Cement WAPCO Nigeria Plc following the acquisition of Blue Circle Industries by Lafarge, a move that combined global branding with its legacy identity.
The current name, Lafarge Africa Plc, was adopted on July 9, 2014 after shareholder approval at an AGM that followed the merger of Lafarge and Holcim’s African operations, consolidating Nigerian and South African assets under a pan-African structure.
The proposed transition to HBM Nigeria Plc therefore marks the latest chapter in a long history of corporate restructuring and identity evolution, reflecting shifting ownership structures and strategic priorities over time.
The timing of the proposal coincides with a period of strong financial performance for the company, which has reported significant growth across key indicators for the 2025 financial year.
Revenue rose 53 per cent to N1.1 trillion from N696.8 billion in 2024, while profit after tax surged by 173 per cent to N273 billion from N100.1 billion. Operating profit also climbed to N392 billion, up from N193 billion in the prior year, supported by cost optimisation and improved operational efficiency.
Earnings per share increased from N6.22 to N17, reflecting stronger value creation for shareholders, while the board has proposed a final dividend of 600 kobo per 50 kobo ordinary share, subject to approval and applicable withholding tax.
The strong earnings performance has been mirrored in the company’s market valuation, with Lafarge Africa’s share price closing at N214.90 on April 9, representing a 1.4 per cent gain on the day. The stock has appreciated by 59.8 per cent year-to-date, rising from N134.50 at the beginning of the year, and ranking among the mid-tier performers on the Nigerian Exchange.
Analysts note that the combination of robust earnings growth and a proposed corporate rebranding could signal a broader strategic repositioning aimed at reinforcing the company’s long-term growth trajectory and market identity.
If approved by shareholders at the upcoming AGM, the transition to HBM Nigeria Plc will mark a new phase in the company’s evolution, as it seeks to align its corporate structure with emerging operational and strategic priorities in Nigeria’s cement and building materials sector.
