Strong start to 2024 for Senegal cement

Strong start to 2024 for Senegal cement
08 March 2024

Domestic cement sales in Senegal grew 3.3 per cent YoY in January 2024, coming in at 0.666Mt compared to 0.645Mt in January 2023, according to the country’s national statistics office, DPEE. For 2023 as whole, cement sales rose nine per cent YoY to 7.044Mt, up from 6.46Mt in 2022.

Strong population growth, which averaged 2.7 per cent YoY in the decade to 2023 (versus just 0.6 per cent in the US), as well as proactive infrastructure and urbanisation policies will underpin demand heading forward.

Cement production rose 10.7 per cent YoY in the first month of 2024, reporting 0.889Mt, up from 0.803Mt a year earlier. Production was 9.017Mt for 2023, up 12.9 per cent from 7.99Mt in 2022. Capacity utilisation rates were 86 per cent in 2023, down from over 100 per cent previously, thanks to the addition of new capacity, which is set to be extended further in 2024 with the anticipated completion of a 1Mta greenfield plant at Pout by Ciments de L’Afrique Senegal SA.

Cement exports grew 25.1 per cent YoY to 0.244Mt in January 2024, from 0.195Mt a year earlier. Exports jumped 32.3 per cent in 2023 to 1.988Mt from 1.503Mt in 2022. While Senegal will remain an important regional cement exporter, ongoing unrest in key export destination, Mali, is a downside risk.

Published under Cement News