Cement News tagged under: Dangote Cement

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Dangote Cement Cameroon SA donates PPE equipment

13 May 2020, Published under Cement News

As part of its corporate social responsibility project, Dangote Cement Cameroon SA has handed over personal protection equipment (PPE) kits worth XAF100m (US$165,000) to the Cameroon’s Ministry of Public Health to support healthcare workers on the frontline in the fight against COVID-19. Speaking at the handover of the materials, Country Manager of Dangote Cement Cameroon SA, Abdullahi Baba, said, "These are important products for medical personnel. Dangote Cement is a corporate responsible...

Dangote Cement looks to raise NGN100bn from bonds

06 April 2020, Published under Cement News

Nigeria’s Dangote Cement is seeking to raise up to NGN100bn (US$257.23m) from the bond market, under its NGN300bn debt issuance programme. The funds from the company’s first offering in the bond market would be used to refinance existing short-term debt used for cement expansion projects, working capital and other corporate purposes, according to This Day.

Sino Zimbabwe Cement challenged by export competition

17 March 2020, Published under Cement News

Sino Zimbabwe Cement has been forced to restrict its business after being outcompeted in export markets by Dangote Cement. Sino Cement has faced stiff competition in the export markets of Zambia and Tanzania. Andrew Gona, Sino Zimbabwe Cement's export manager, said: "We used to export, but the growth of Dangote in the region has pushed us out on competitive grounds. They have built modern plants that are low cost right in the heart of what used to be our export market. "We can supply and s...

Sephaku Cement sees profits fall on construction activity decline

03 March 2020, Published under Cement News

Sephaku Cement (Dangote group) says it expects the next 12-18 months to be tough on the building sector. Declining numbers of new construction sites are impacting on business. The market is expected to remain subdued, Sephaku Cement said, as reflected by the 12.7 per cent decline in building plans passed for 2019, according to Stats SA data. Sephaku Cement reported profit after tax slumped to ZAR1.3m (US$83,745) in its year to end-December, from ZAR128.7m previously. It said it had sel...

Dangote Cement plans 1Mta grinding unit in Gabon

02 March 2020, Published under Cement News

Dangote Cement will construct a new 3000tpd clinker grinding plant in Gabon, representing an investment of US$75m, according to Dangote Group President, Alhaji Aliko Dangote. The new 1Mta cement plant will be built on a plot of over 10.5ha in the Owendo area, adjacent to the New Owendo International Port, just outside the country’s capital, Libreville. The plant is expected to help expand the spread of Dangote’s production facilities and reduce transport costs, according to Devakumar Edw...

US cement market boosted FY19 financial results

28 February 2020, Published under Cement News

This week, several leading cement producers reported on their FY19 business results. ICR has taken a look at the results of HeidelbergCement, LafargeHolcim, Dangote Cement, Vicat and Argos to see what regional patterns can be discerned from the recent results of these industry players. In terms of cement sales volumes (see Table 1), growth was limited to less than one per cent in 2019. Argos saw the largest advance at 0.7 per cent, but LafargeHolcim was well behind the other producers with...

Dangote Cement sees modest revenue decline in 2019

27 February 2020, Published under Cement News

Nigeria’s Dangote Cement has seen a modest 1.1 per cent YoY decrease in revenue to NGN891.67bn (US$2.45bn) for 2019, compared to NGN901.21bn in the previous year. EBITDA also fell 9.2 per cent YoY to NGN395.43bn from NGN435.26bn, while the margin declined to 44.3 per cent from 48.3 per cent in 2018. Total cement sales volumes in 2019 remained largely consistent YoY at 23.566Mt against 23.535Mt in 2018. "Dangote Cement maintained strong financial performance despite a low growth environmen...

Dangote Cement receives approval for share buyback

23 January 2020, Published under Cement News

Nigeria’s Dangote Cement has received shareholder approval to complete a share buyback scheme within 12 months. Under the plans, 1.7bn out of a total of 17.04bn ordinary shares will be repurchased.  Aliko Dangote, Dangote's chairman, has confirmed the scheme will be funded out of the profits of the company. He also noted that a number of shares under the programme are required to be cancelled in accordance with Securities and Exchange Commission and Nigerian Stock Exchange rules. As a res...

Dangote Cement Plc plans share buy-back

31 December 2019, Published under Cement News

Dangote Cement Plc is seeking shareholder approval to commence a share buy-back in an attempt to improve return on equity and shareholder value. In a notification to the Nigerian Stock Exchange (NSE), the cement company said it would convene an extra-ordinary general meeting (EGM) of shareholders for January 22, 2020, to amend its Articles of Association to enable it undertake a share buy-back of up to 10 per cent of its issued shares. "The relevant shares will be repurchased out of the pr...

Makoju retires; Dangote Cement appoints new CEO

27 December 2019, Published under Cement News

Michel Puchercos, a former managing director of Lafarge Africa, has been appointed as the new Chief Executive of Dangote Cement Plc, according to a report in The Sun, Nigeria. His appointment comes following the retirement of Joseph Makoju from the board of Directors of Dangote Cement and as the group managing director and CEO, ending a 45-year career in the industry. Mr Puchercos, a French national, will take up his new position on February 1, 2020. He has more than 20 years’ experien...