Cement News tagged under: West Africa
Dangote allowed to resume overland exports11 November 2020, Published under Cement NewsNigeria’s government has allowed Dangote Cement to resume exports across the country’s land borders, reports Bloomberg. The step has raised expectations that the country may be opening up trade with its neighbours again. Land borders have been closed for over one year as authorities curbed smuggling and wanted to boost local production. While it encouraged the consumption of locally-grown produce such as rice, factories across west Africa have been impacted by the closure. The regime of ... |
Dangote posts 12% rise in 3Q revenue09 November 2020, Published under Cement NewsDangote 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... |
Chad’s Baoré plant to start up in November09 November 2020, Published under Cement NewsThe Baoré cement plant will commence production this month, according to the country’s President, Idriss Déby. The government will also subsidise the price of a bag of cement. The plant was inaugurated in 2012 by the president. At the time, the ex-works price was set at XAF4200/bag (US$7.60/bag) and the retail price were not to exceed XAF6000. On 28 July, the country’s Minister of Petroleum and Mines, Oumar Torbo Djarma, had said that “Everything will be back to normal”, following a meet... |
COVID-19 closes WACEM's Tabligbo plant04 November 2020, Published under Cement NewsThe West African Cement plant (WACEM) has shut down its grinding plant in Togo for two weeks. The 1.8Mta Tabligbo plant has closed to halt the spread of COVID-19. The Ministry of Trade and Industry released an official statement saying: "On October 30, 2020, the national coordinator in charge of the response against COVID-19 informed me about an outbreak at the WACEM, a company located in the free trade zone." The plant is situated 80km from Lomé, in the Yoto prefecture. The lat... |
Lafarge Africa sees revenue increase 10%03 November 2020, Published under Cement NewsLafarge Africa has reported a 10.3 per cent YoY increase in revenue to NGN179.88bn (US$464.57m) for the 9M20, against NGN163.1m in the year-ago period. Its profit after tax from continuing operations also surged 37.5 per cent YoY to NGN28.2bn from NGN20.5bn. In the third quarter of the year, revenue advanced 31.4 per cent to NGN59.34bn from NGN45.17bn in the 3Q20. Profit after tax from continuing operations reached NGN4.87bn, up 2.8 per cent from NGN4.73bn last year. |
BUA Cement shows 21% surge in revenue30 October 2020, Published under Cement NewsNigeria’s BUA Cement has shown 21 per cent growth in revenue for the first nine months of 2020, rising to NGN156.55bn (US$412.05m) from NGN129.43bn in the 9M19. Profit after tax also advanced 24 per cent YoY from NGN43.25bn to NGN53.57bn. "We are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused di... |
Dangote's IPO on LSE not expected until 202329 October 2020, Published under Cement NewsNigeria’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." |
Supplying Cimco’s new plant26 October 2020, Published under Cement NewsEarlier this year, Intercem and CimMetal Group signed an agreement for their fourth collaboration in west Africa, this time for a new 2.5Mta cement grinding plant in Togo. Under the name of Cimco SA, the new facility will be strategically situated at the port of Lomé and become the country’s largest grinding plant by capacity. By Intercem Group, Germany. General layout of Intercem’s 2.5Mta cement grinding plant for Cimco SA (CimMetal Group) in Lóme, Togo, with a VRM, raw material s... |
Côte d’Ivoire: year of uncertainty19 October 2020, Published under Cement NewsWith COVID-19 affecting economic activity throughout sub-Saharan Africa, the cement market in Côte d’Ivoire faces a particularly uncertain year as presidential elections and a political crisis add further factors of volatility to the sector. In addition, new plant projects provide extra capacity in an industry that is already subject to over-capacity. By Limak Holding, Turkey. The cement market of Côte d’Ivoire continues to provide some opportunities going forward, but overcapacity... |
Supacem opens doors to Ghana's armed forces07 October 2020, Published under Cement NewsGhana's armed forces have been given a special a tour of the Supacem cement factory in Tema, Ghana. The army was visiting the facility after the cement company donated 850 bags of cement to the armed forced earlier this year. Supacem (LafargeHolcim) has donated 2400 bags of cement to security institutions in the country as part of its corporate social responsibility. The institutions include Ghana's Armed Forces, Ghana's Police Training School and Ghana's Prison Service at the Awutu Breku p... |