Cement News tagged under: Nigeria
Dangote Cement signs new asset management contract with GE25 October 2019, Published under Cement NewsDangote Cement has signed an agreement with General Electric (GE) to deploy an Asset Performance Management (APM) solution to reduce unplanned downtime and enhance performance of power generation assets at two cement plants in Obajana and Ibese, Nigeria. The project also includes extending the current service agreement for the seven GE LM6000PC aeroderivative gas turbines installed at the sites for an additional 50,000 operating hours. "We are proud to continue our 13-year collaboration w... |
Dangote Cement26 September 2019, Published under Cement NewsDangote Cement’s ‘Bag of Goodies’ national consumer promotion comes to an end of 30 September this year. Speaking in Lagos this month, Aliko Dangote, chairman, reiterated his commitment to economically empowering millions of Nigerians. The promotion saw loyal Dangote customers being rewarded with gifts including television sets, motorbikes and cars. According to Mr Dangote, the gifts were designed to give as many as 21m Nigerians a chance to boost their livelihood. “The choice of gifts were ... |
Turbulent times for Africa?17 September 2019, Published under Cement NewsFor the cement sector, turmoil has probably come to a head in many parts of Africa. Cement demand has slowed or fallen back into the red in many African countries, while overcapacity and low utilisation rates are characteristic of many markets. However, much of this turmoil is self-inflicted. Tony Hadley provides an uncompromising assessment of the industry on the continent and examines the root causes of business failure in some key markets. By Tony Hadley African Advisory. A perfect... |
Dangote Cement's group revenues slip 3% in 1H1931 July 2019, Published under Cement NewsDangote Cement Plc announced its unaudited results for 1H19 with group revenue reaching NGN467.7bn (US$1.291bn), down three per cent, and group EBITDA at NGN217.9bn, down 11.4 per cent. Nigerian EBITDA for Dangote Cement fell 11.6 per cent to NGN200.6bn and pan-African EBITDA slipped to NGN23.9bn, down 7.5 per cent. Net debt stood at NGN318.6bn. Group cement sales totalled 12.28Mt in 1H19, while domestic cement sales volumes reached 7.59Mt in 1H19. Nigerian revenues stood at NGN328.3m in... |
CCNN records 166% rise in revenue for 1H1929 July 2019, Published under Cement NewsThe Cement Company of Northern Nigeria has reported a 166 per cent YoY increase in sales revenue for the first six months of 2019, rising to NGN32.1bn (US$88.8m) from NGN12.11bn. However, the cost of production also surged 138 per cent to NGN17.8bn. Profit after tax advanced to NGN7.3bn, compared with NGN2.6bn in the 1H18. In the second quarter of 2019, the company saw a revenue of NGN15.3bn while production costs reached NGN8.6bn. |
Association calls for lower cement prices in Nigeria12 July 2019, Published under Cement NewsOyebamiji Dauda, chairman of the Lagos State Bricklayers’ Association, has urged the federal government of Nigeria to address the rising cement prices and as a result, increase access to affordable housing. In an interview with the News Agency of Nigeria, Mr Dauda stated that allowing more producers to operate in the market would make it more competitive. "There is the need for establishment of more cement manufacturing firms to help crash the price. Our observation is that high cost of c... |
Dangote Cement clocks in with iris technology11 June 2019, Published under Cement NewsDangote Cement is keeping an eye on staff arrival and attendance with an iris recognition system to keep tabs on its 30,000 employees located in five countries in Africa. Dangote's operations in Nigeria, Ethiopia, Senegal, Sierra Leone and Republic of Congo will use the iris-ID system. The software is contactless and simply uses the coloured part of the eye surrounding the pupil to identify staff. According to Preasanna Kumar Burri, Dangote Group chief information officer, the traditi... |
Dangote releases 2018 sustainability report31 May 2019, Published under Cement NewsDangote Cement Plc has published its first standalone sustainability report and has confirmed its readiness to support the Nigerian Stock Exchange (NSE) in its ambition to host a sustainable stock exchange and capital market in Nigeria. Dangote took part in the ‘Facts behind the Sustainability Report’ (FBSR), an interactive forum created by the NSE to promote environmental, social and governance performance and reporting among Nigerian companies. Joseph Makouju, group managing director of... |
Dangote Cement22 May 2019, Published under Cement NewsThe 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 ... |
Post-merger CCNN reports improved 1Q19 results08 May 2019, Published under Cement NewsNigeria’s Cement Co of Northern Nigeria (CCNN) saw its net profit after tax soar by 236 per cent YoY to NGN3.636bn (US$10.1m) in the first quarter of 2019 ended 31 March. The merger with Kalambaina Cement Co Ltd is seen as a key reason for the improved profit figure. In the post-merger three-month period revenue saw a 213 per cent hike to NGN16.886bn from NGN5.394bn in 1Q18. Sales volumes increased by 233 to 411,945t with a capacity utilisation rate of 82 per cent. Strong domestic demand... |