Cement News tagged under: Dangote Cement

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Cement prices rise in Ghana

29 March 2021, Published under Cement News

Cement prices in Tamale, Ghana, have risen amid reports of a cement shortage, according to Ghana News Agency. Ghacem and Dangote Cement brands are being sold at GHS50 (US$8.68)/bag while Diamond Cement and other brands are currently around GHS48/bag, up from GHS47 and GHS45, respectively. Construction companies in the region are expected to pay the higher prices for the limited stock to complete their projects before the rainy season begins.

Dangote Cement records strong pan-African cement volumes in FY20

25 March 2021, Published under Cement News

Dangote Cement's regional performance in FY20 saw its domestic market of Nigeria return volumes of 15.73Mt, a rise of 11.5 per cent on the 14.11Mt recorded in FY19. Cement and clinker sales in Nigeria rose by 14.3 per cent in FY20. The company saw a strong ‘V-shaped’ recovery in cement demand in Nigeria in the 3Q20 with volumes recorded at 4.29Mt for the quarter and this was relatively sustained with strong 4Q20 volumes of 3.91Mt. Dangote reported decreased market disruptions as a result of...

Dangote Cement Group reports FY20 revenues of NGN1034.2bn

24 March 2021, Published under Cement News

Dangote Cement Plc has released its FY20 results, reporting group revenue up 16 per cent to NGN1034.2bn (US$2718.1bn) when compared with FY19. Group EBITDA totalled NGN71.3bn, up 49 per cent on FY19 and pan-African EBITDA reached a record NGN478.1bn. Group gross profit amounted to NGN596,226m, up 16.5 per cent from NGN511,682m in FY19. Net debt at the end of the period stood at NGN337,275m. Michel Puchercos, Group CEO, said: "Despite the impact of the COVID-19 pandemic, 2020 was a reco...

Dangote Cement confirms appointment of CFO

22 March 2021, Published under Cement News

Nigeria’s Dangote Cement has confirmed the appointment of Guillaume Moyen as chief financial officer, with effect from 18 March 2021. Mr Moyen joined Dangote Cement in February 2019 as Group CFO (Operations) and was appointed Acting Group CFO in March 2019. He is in charge of finance and IT and has more than 20 years’ experience in multi-national industrial and services companies, notably operating in emerging markets.

Dangote Cement set to begin share repurchase scheme

22 December 2020, Published under Cement News

Nigeria’s Dangote Cement is planning to begin a share buyback programme, starting with a first tranche of 85.2m shares or 0.5 per cent of the total in issue. The purchase is set to take place on 30 December. It is Nigeria’s first company to undertake a share buyback, as previous attempts failed due to fears that the process may be abused. The repurchase plans are not expected to exceed 10 per cent of its issued capital. The shares being purchased will be held as treasury shares and could...

Dangote Cameroon sells 1Mt of cement in the 9M20

20 November 2020, Published under Cement News

Dangote Cameroon has announced that it sold around 1Mt of cement from its 1.5Mta grinding plant in the first nine months of 2020, up 18 per cent YoY from the 9M19. The company has estimated that it had a 39 per cent market share during the period. The rise in demand has been attributed to increased investments in construction projects. “The market is primarily driven by individual construction projects and government housing estates,” said the company.

Community petitions Dangote for payment of land ownership entitlements

19 November 2020, Published under Cement News

Members of the Ijako-Orile community in the Yewa North area of Ogun State, Nigeria, have staged a peaceful protest, urging for the payment of their ownership entitlements to the land on which the Dangote Cement factory is situated in Ibese, according to This Day. Representatives of the community have also submitted a letter of appeal to the president of Dangote Cement, Alhaji Aliko Dangote, over the issue. In their petition, the Ijako-Orile community say they own the land upon which the f...

Tanzanian cement producers highlight price hikes

11 November 2020, Published under Cement News

Dangote Cement in Tanzania apologised to the government for the failure to communicate to the public on the temporary shutdown of its plant for maintenance, which caused price hikes across the country. "I would like to apologise for not communicating the shutdown to the government and the public on time," said the plant’s senior officer, Glagu Shuma, noting that the management of the plant has already made adequate arrangements to supply the cement to the general public including major co...

Dangote posts 12% rise in 3Q revenue

09 November 2020, Published under Cement News

Dangote Cement plc reported a revenue of NGN761.4bn (US$1.987bn) in the nine months ended 30 September 2020,  representing a 12 per cent YoY rise when compared with 9M19, according to a statement by Michel Puchercos, group CEO. Group EBITDA advanced 17.1 per cent to NGN355bn. “The Cement Group’s revenue went up by 12 per cent to NGN761.4bn compared to NGN679.8bn in 2019 with domestic operations accounting for NGN535.51bn which compared to NGN467.88bn up by 14.5 per cent. Pan-Africa operati...

Dangote's IPO on LSE not expected until 2023

29 October 2020, Published under Cement News

Nigeria’s Dangote Cement is not expected to attempt an initial public offering on the London Stock Exchange until at least 2023, according to News 24. "The London listing is not something which will happen in the short to medium term," said Temilade Aduroja, head of investor relations. "We are focussed on our export strategy and increasing our foreign-currency revenue."