Cement News tagged under: Dangote Cement
Dangote to list in London in 2019?09 July 2018, Published under Cement NewsDangote Cement is considering carrying out its long-planned listing of shares in London after the Nigerian presidential and parliamentary elections on 16 February 2019 and state government elections in March as it intends to expand through acquisitions, according to a report in Business Day. "We are working on it and we’ll look at it in 2019," Edwin Devakumar, group executive director at Dangote Industries, said. "We have grown to this extent mostly via greenfield investments. To grow muc... |
Dangote forecast to increase market share in sub-Saharan Africa06 July 2018, Published under Cement NewsThe removal of tariffs and non-tariff barriers under the African Continental Free Trade Area (AfCFTA) will help Dangote Cement Plc’s expansion plans in sub-Saharan Africa and increase its consumption to 275Mt across 16 countries by 2030, according to a projection released by the Nigeria Office for Trade Negotiations. The Dangote Group has also forecast a 27.1 per cent market share in sub-Saharan Africa in 2018, with this expected to reach 59.4 per cent by 2030. According to the report, sub... |
Dangote to issue shares as part of its NGN150bn Commercial Paper Programme04 July 2018, Published under Cement NewsDangote Cement Plc has announced the issuance of NGN50bn (US$13.9m) series 1 and 2 notes under its NGN150bn Commercial Paper Programme, announced on 27 June 2018. The series 1 and 2 notes will be listed on Nigeria's FMDQ OTC Securities Exchange on 19 July 2018. Funds raised in the Commercial Paper (CP) Programme will be used for capital expenditure, working capital and general corporate purposes. Joe Makoju, Group CEO, said: "This landmark transaction is the largest-ever Commercial P... |
Dangote opens mega warehouse in Nigeria03 July 2018, Published under Cement NewsDangote Cement Co has inaugurated its mega warehouse in Imo State, Nigeria. The warehouse was officially opened by Governor Rochas Okorocha and the president of Dangote Group, Alhaji Aliko Dangote. "Dangote Cement has sold more cement in Imo State than it has done in any other part of the country because of the infrastructural revolution going on in the state. Imo State today is a new state," said Mr Okorocha. This follows Adeyemi Fajobi, national sales and distribution director, announc... |
Sephaku Cement reports 25% fall in net profits28 June 2018, Published under Cement NewsSephaku Cement (Dangote group) reported a 35 per cent slump in net profit to ZAR44m (US$31.7m) on a one per cent decline in revenue to ZAR831m for the year to end-March. "We experienced a challenging operating year as competition in the ready-mix concrete segment intensified characterised by lower volumes and marginal improvement in pricing," Sephaku CEO, Lelau Mohuba, said in the results statement. "The scenario was much more positive on the cement front with improved industry annual pric... |
Cameroon's four main producers plan expansions20 June 2018, Published under Cement NewsCameroon's Mira Cement, a new entry to the market, has announced a project to construct a 1Mta plant in Douala. Meanwhile, all of the country's four main producers have plans to expand their production in the coming years, according to The Africa Report. Cimencam began constructing a 0.5Mta facility at Nomayos, outside of Yaoundé, in March. Cimaf Cameroun is set to triple its current 0.5Mta capacity this year, while Dangote Cement Cameroon is planning a new plant in Yaoundé. Finally, Me... |
Investors urged to finance Dangote and Lafarge Africa growth01 June 2018, Published under Cement NewsFollowing last month's approval of a NGN9.1trn (US$25bn) budget for 2018, Nigeria is set to go on a massive infrastructure spending spree. Eager to be at the forefront of cement supply, Dangote Cement and Lafarge Africa are urging foreign investors to get onboard. The budget is the nation's biggest-yet spending plan, says Bloomberg, with almost a third of it going into roads, rail, ports and power. Furthermore, with a major housing gap of 17m, which is expected to increase in line with a... |
Dangote Cement begins new Management Trainee Programme31 May 2018, Published under Cement NewsDangote Cement Plc has begun the training of its newly-hired managers, who were inaugurated at the weekend at the Dangote Academy Ikeja, Lagos. They are being trained under a new scheme, the Management Trainees Programme (MTP). The Group Managing Director of Dangote Cement Plc, Joseph Makoju, said the management scheme was "to sustain our exponential growth, competitiveness and market leadership". "We are committed to attract top talents into our business for our current and future business... |
Gunmen kill Dangote Cement's country manager in Ethiopia17 May 2018, Published under Cement NewsDeep Kamara, Dangote Cement’s country manager in Ethiopia, was killed by gunmen on Wednesday while returning to Addis Ababa from the facility which he managed in the country, according to Reuters. Reports suggest that Mr Kamara’s secretary and driver were also shot in the incident which occurred in the unstable Oromiya region. "The company’s director died following an attack by unknown gunmen that took place while he was returning to Addis Ababa from the factory alongside two company emp... |
A strong domestic market drives Dangote's 1Q18 results27 April 2018, Published under Cement NewsThis week Dangote Cement Group reported on its 1Q18 business results that saw group revenues surge up 16.3 per cent to NGN242.1bn (US$0.67bn). Cement sales in Nigeria have been particularly strong rising by 5.3 per cent to 3.97Mt, while exports from the company’s homeland have risen to 211,000t in 1Q18 with Togo, Niger and Ghana the main export destinations. Pan-African sales increased 4.4 per cent YoY to 2.24Mt. "The first quarter of 2018 has started strongly with substantial increases ... |