Cement News tagged under: West Africa
BUA Cement reports revenue growth in 1Q2402 May 2024, Published under Cement NewsNigeria-based BUA Cement has released its unaudited financial statements for the three months ended 31 March 2024. The company has posted revenue of NGN161,131m (US$114.4m) over the three-month period, compared to NGN106,352m in the same period a year earlier. Operating profit came in at NGN33,476m, down from NGN38,387m in the year-ago period, while profit after tax fell from NGN26,800m in the three months ended 31 March 2023 to NGN17,969m in the same period in 2024. Basic earnings per ... |
Dangote reports 101% revenue surge in 1Q2430 April 2024, Published under Cement NewsDangote Cement has reported group revenue of NGN817.4bn (US$659m) in the first quarter of 2024, ended 31 March, marking a 101 per cent surge YoY. EBITDA advanced by 66.6 per cent over the same period to NGN309.5bn, giving a 37.9 per cent margin, while group volumes advanced 12.3 per cent to 7Mt. Profit after tax stood at NGN112.7bn, up 2.9 per cent YoY. In Nigeria, Dangote saw a strong rebound in volumes, up 26.1 per cent YoY to 4.6Mt. This resulted in EBITDA growth of 41.8 per cent to... |
FLSmidth wins 5-year supervisory support agreement with SSBIL18 April 2024, Published under Cement NewsFLSmidth will provide expertise and supervisory support to SSBIL for its operations and maintenance contract with Abayak Cement ’s plant in Akoga , on the mainland of Equatorial Guinea. The plant’s main equipment was designed and supplied by FLSmidth several years ago, including an OK™ Mill, a ROTAX-2 ® Kiln, Cross-Bar ® Cooler, Pfister ® dosing systems, Ventomatic ® packing plant and our Automation control systems. Installation was completed in 2016. However, due to local issues reg... |
Strong start to 2024 for Senegal cement08 March 2024, Published under Cement NewsDomestic cement sales in Senegal grew 3.3 per cent YoY in January 2024, coming in at 0.666Mt compared to 0.645Mt in January 2023, according to the country’s national statistics office, DPEE. For 2023 as whole, cement sales rose nine per cent YoY to 7.044Mt, up from 6.46Mt in 2022. Strong population growth, which averaged 2.7 per cent YoY in the decade to 2023 (versus just 0.6 per cent in the US), as well as proactive infrastructure and urbanisation policies will underpin demand heading forw... |
Dangote boosts revenue by 36% in 202304 March 2024, Published under Cement NewsDangote Cement has reported revenue of NGN2.208trn (US$1.365bn) in 2023, up 36.4 per cent from the NGN1.618trn posted in the previous year. Operating profit over the same period advanced from NGN585.88bn to NGN734.27bn, marking an increase of 25.3 per cent. Gross profit saw a 25.8 per cent advance YoY to NGN1.202trn, while profit after tax improved by 19.2 per cent from NGN382.31bn in 2022 to NGN455.58bn a year later. Earnings per share saw growth of 18.9 per cent over the same timefram... |
Nigerian producers agree to lower prices22 February 2024, Published under Cement NewsNigeria-based Dangote , BUA Cement and Lafarge have agreed to lower cement prices in the country, despite rising production costs. According to This Day Live, the three manufacturers have stated that a 50kg bag of cement should have a maximum retail price of NGN8000 (US$4.98). Following a meeting with Nigeria’s Minister of Works and the Minister of Industry, Trade and Investments, the producers said a monitoring team would be set up to ensure compliance with the new pricing agreement. ... |
Mali's path to cement self-sufficiency16 February 2024, Published under Cement NewsSet on expansion in west Africa, CIMAF announced this week that it had laid the foundation stone for its new grinding plant in Mali. Other cement producers have also targeted Mali, which saw cement shortages in 2021 but now has a crop of new cement plants under construction. The sudden surge in Mali's cement plant projects is happening despite the challenges of political unrest in the country. There were two coups d’étât in 2020 and 2021, while Al Qaeda is still active in the country and ... |
Cement prices surge in Enugu, Nigeria16 February 2024, Published under Cement NewsThe price of cement has hit NGN13,000/bag (US$8.57) in Enugu, Nigeria, compared to around NGN5000/bag in January this year. According to Blueprint Newspapers, while Dangote Cement is selling for approximately NGN10,500/bag, brands such as Supaset and BUA have increased their prices to NGN12,000/bag and NGN13,000/bag respectively. Some commentators have said the price increase is due to exchange rates with the US dollar, while fears have been raised throughout the construction industr... |
CIMAF lays foundation stone for Mali plant13 February 2024, Published under Cement NewsCIMAF laid the foundation stone for its new Mali factory on 9 February 2024 in Natien, a commune located in the Sikasso region. The Minister of Industry and Trade, Moussa Alassane, was present at the ceremony. This new unit will have a production capacity of 1Mta of cement, expandable to 2Mta, and will It generate at least 300 direct jobs and 2000 indirect jobs. The completion date has been set at 23 months, with a start-up date of February 2026. |
Ghana introduces new cement regulation06 February 2024, Published under Cement NewsGhana has introduced a new regulation designed to protect both the quality and safety of cement products in the country, According to BNN, The Ghana Standards Authority (Manufacture of Cement) Regulation, 2023 (L.I. 2480) follows concerns raised by players in the country’s construction industry regarding the quality of cement and its impact on the durability and safety of structures. The regulation not only makes it mandatory for anyone thinking of manufacturing cement to obtain a lic... |