Cement News tagged under: West Africa

RSS feed

A new era for Nigeria

05 December 2023, Published under Cement News

Nigeria’s new president signals the dawn of a new era as the west African country aims to address long-standing macroeconomic imbalances. The domestic cement sector continues to add additional capacity in view of long-term market potential, but a number of stumbling blocks need to be overcome before latent demand is realised. By Moses Waireri Njuguna, EFG Hermes, Nigeria. The inauguration of Nigeria’s new president is heralded as a new era for Nigeria as the country aims to address...

Nova Cimangola prepares to launch LC3 production

05 December 2023, Published under Cement News

Nova Cimangola is close to opening its first LC3 project for low carbon cement production in Luanda, Angola. According to the company, Ecosolutions   carried out the studies and IPIAC guaranteed the technology. The project meets the intentions of the Government of Angola and aims to produce environmentally friendly cement or green cement, which incorporates a greater quantity of calcined clay, requires a smaller energy and water consumption, and contributes to the longer conservation of...

Sephaku Holdings' profit eroded by rising costs

14 November 2023, Published under Cement News

Sephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL.  According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost...

Ghana shuts three cement companies

14 November 2023, Published under Cement News

The Ghana Standards Authority has shut down three cement companies due to their use of inferior materials, reports the Daily Graphic. The three cement producers in question are Xin An Safe Cement Ghana Ltd , Kumasi Cement Ghana Ltd, and Uniceme Cement Ghana Ltd. The move is reportedly part of a wider crackdown by the GSA on substandard cement production in Ghana. Along with the closure of cement plants, the GSA also intends to prohibit the construction of new cement factories, pending a ...

Lafarge Africa reduces CO2 emissions through AF use

10 November 2023, Published under Cement News

Lafarge Africa has reduced is CO 2 emissions from 595kg CO 2 /t  in 2021 to 574kg CO 2 /t in 2022 through the use of alternative fuels and energy-efficient technologies. According to the company’s 2022 Sustainability Report, its global thermal substitution rate in 2022 stood at 13.5 per cent, compared to 9.4 per cent in 2021, reports This Day.  Prince Adebode Adefioye, chairman, Lafarge Africa, said, “I am delighted to present Lafarge Africa Plc’s latest Sustainability Report, highligh...

Sol Cement to cease trading until it pays 40% of its tax bill

10 November 2023, Published under Cement News

The Ghana Revenue Authority (GRA) has directed Sol Cement in Ghana to settle at least 40 per cent of the company’s outstanding tax debt before it can resume operations. The GRA closed the cement plant two weeks ago due to the company’s defaulting on tax payments of GH7S09m (US$60.6m), including value added tax. Sol Cement has had difficulties in meeting its tax obligation, especially as significant volumes of raw materials are imported forts cement production. “We will allow them to re...

Inauguration of Sokoto plant expansion by January 2024

03 November 2023, Published under Cement News

BUA Cement has revealed its plan to inaugurate its Sokoto plant expansion by January 2024. Abdulsamad Rabiu, the Chairman of BUA Group , made this announcement during his visit to Governor Ahmad Aliyu in Sokoto this week. Mr Rabiu said that the company was diligently working to ensure the new plant, currently under construction in Sokoto state, Nigeria,  would be ready for the inauguration. He informed the governor that during his meeting with President Bola Tinubu in Abuja he ...

BUA Cement increases revenues by 28% in 9M23

31 October 2023, Published under Cement News

BUA Cement has released its 9M23 results and posted revenue of NGN335,863m up 27.9 per cent from NGN262,598m in 9M22. Operating profit increased from NGN99,245m in 9M22 to NGN119,683m in 9M23, up 20.6 per cent. Profit after tax for the 9M23 reached NGN76,065m up from NGN74014m in 9M22. Plant expansion at the Obu and Sokoto plants are ongoing with commissioning scheduled for the 1Q24 which will bring the company’s total cement capacity in Nigeria up to 17Mta.

Dangote posts 53% YoY rise in revenue in 3Q23

30 October 2023, Published under Cement News

Dangote Cement Plc has reported revenue of NGN563.77bn (US$703.77m) in the third quarter of 2023, up 52.7 per cent compared to the same period in the previous year. Gross profit over the same period advanced by 46.3 per cent to NGN304.11bn, while pretax profit surged 132.4 per cent to NGN165.03bn. Profit after tax leapt to NGN98.95bn, marking a 141.3 per cent YoY advance. Meanwhile, earnings per share were up by 138.3 per cent YoY to NGN5.38 in the 3Q23.  Even with a 33 per cent YoY ris...

Fears raised over cement price hike in Nigeria

26 September 2023, Published under Cement News

The Cement Producers Association of Nigeria has praised the Nigerian government’s commitment to introduce concrete roads but warned that supply issues could push cement prices to NGN9000/bag (US$11.54/bag). According to Punch, cement in Nigeria currently sells at around NGN5000/bag, but a lack of supply could force prices much higher. Instead, the association has urged the government to place more attention to road design to encourage the use of both cement and asphalt pavement. “While we c...