Cement News tagged under: Ghana

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Dangote Cement

22 May 2019, Published under Cement News

The first quarter of 2019 saw Dangote Cement report a 2.3 per cent YoY increase in volumes to 6.3Mt. Over the same period, however, group revenue declined by 0.8 per cent to NGN240.2bn (US$668m) while EBITDA contracted by 11.2 per cent to NGN111.8bn. Nigeria: despite a subdued economy, the cement market grew by six per cent in 1Q19 with Dangote supplying almost 4Mt. Revenues, however, fell by 2.3 per cent to NGN169.9bn, EBITDA contracted by 10.4 per cent and margins fell to 60.9 per cent ...

Dangote Cement sees volumes rise, revenues down in 1Q19

29 April 2019, Published under Cement News

Dangote Cement reported increased volumes of 6.3Mt, up 2.3 per cent YoY, in the first quarter of 2019. However, group revenues slipped 0.8 per cent to NGN240.2bn (US$668m) and group EBITDA fell 11.2 per cent to NGN111.8bn. Nigeria Despite a subdued domestic economy, Nigeria’s cement market remained robust, expanding by six per cent in the 1Q19. However, the rate of growth slowed in February and March. As a result, Dangote’s Nigerian operations supplied nearly 4Mt, its third-highest qua...

Dangote Cement

24 April 2019, Published under Cement News

Cement prices in Ghana have risen for the second time in two months with producers in the country blaming the latest increase in the depreciation of the Ghanaian cedi. Dangote Cement has increased its 42.5 grade product from GHS32.55 (US$6.36)/bag to GHS35.55/bag. The currency crisis is also being blamed for a 20 per cent rise in the price of bread in the country and an uptick in fuel prices at filling stations across Ghana.  Meanwhile, construction of Dangote’s 3Mta cement plant near Abi...

Ghana expects job boost from new factory

16 April 2019, Published under Cement News

Ghana is expecting a jobs boost from the construction of the Tanoso clinker plant later this year. Approximately1800 direct jobs will be created when the factory is completed. President Akufo-Addoo visited the project site on 15 April 2019 in a tour of the region. The Tanoso unit expects to save the country US$700m by significantly reducing the need for clinker imports.

Ghanaian cement prices rise for the second time in two months

22 March 2019, Published under Cement News

Cement prices in Ghana have risen by GHS2.40 (US$0.45), which is the second increase for cement prices in the last two months. Cement producers have had to raise their prices as the cost of raw materials increased due to the depreciation of the local cedi currency. Ghacem has raised its prices across the board. Its Super Rapid cement advanced from GHS30.47 to GHS32.47/50kg bag (US$6.1/ 50kg bag and GHS649.4/t (US$124.18/t)), Super Strong Cement has moved up from GHS30.83 to GHS33.23 and Gha...

Ghacem targets 3Mta cement production in 2019

24 January 2019, Published under Cement News

Ghacem says it is working to reach a production of 3Mta in 2019. The Ghanian manufacturer expects to distribute 60 million bags of cement this year, up by four million on 2018, according to Morten Gade, Ghacem's managing director. The entrance into the market by two new manufacturers last year changed the market dynamics, resulting in Ghacem’s to alter its marketing strategy. "When the market dynamics change, you have to change too so we changed our marketing efforts, we did things differe...

Ghana building code is launched

02 November 2018, Published under Cement News

The Cement Manufacturers Association of Ghana (CMAG) has made a comprehensive 'Ghana Building Code' to ensure cement sold in the country is within the standards specified in the code. CMAG's Executive Secretary, Rev Dr George Dawson-Ahmoah believes the code will serve as a check to flush out sib-standard cement on the market. The code was launched by by Vice  President, Dr Mahamudu Bawumia. It consists of 38 parts and 1700 pages covering the essential areas of safe operation of the buildin...

Dangote reports 15% rise in 9M EBITDA

23 October 2018, Published under Cement News

Dangote Cement announced a 13.5 per cent rise in group revenues to NGN685.29bn (US$1.88bn) for 9M18 as sales volumes advanced 7.6 per cent to nearly 17.8Mt. Group EBITDA rose 14.6 per cent YoY to NGN337.3bn while EBITDA margins advanced from 48.8 per cent in 9M17 to 49.2 per cent in 9M18. Net profit advanced to NGN158.28bn in 9M18 from NGN154.122bn in the year-ago period. Nigeria In Nigeria sales volumes increased 11.7 per cent to nearly 10.8Mt on the back of a domestic market recovery....

Dangote Cement

26 September 2018, Published under Cement News

Dangote Cement has welcomed Brice Houeto as its new country director in Ghana. He succeeds Tor Nygard who has retired after two and a half years at the helm. Mr Houeto joins Dangote from Lafarge Cement Guinea where he was country managing director. According to the new country director, his focus will be on increasing Dangote Cement’s market share in Ghana, investing in expanding its operations and introducing new services. “The supply chain market requires the need for product research a...

Dzata Cement did not cause UT Bank collapse

14 August 2018, Published under Cement News

Dzata Cement of Ghana was not responsible for the collapse of UT Bank in 2017. The cement producer was previously thought to be a major cause of the bank's folding, incorrectly attributed to the cement company defaulting on a loan.  However, Ibrahim Mahama, who owns the cement facility, said the repayment of the loan was to start after the company began operations and cement sales. The licence of UT Bank had also been withdrawn by the Bank of Ghana in August 2017 and had been taken over by...