Dangote plans to invest in new Kenya plant

Dangote Cement plans to invest in a new cement plant in Kenya, according to the country’s president’s office.

Aliko Dangote was part of a business delegation that was visiting Kenya with Nigeria's President Goodluck Jonathan. The countries signed bilateral deals in sectors including tourism, agriculture and oil and gas.

"(President Uhuru Kenyatta) particularly cited the ... the decision by Nigerian tycoon Aliko Dangote to invest US$400m in a cement processing plant as an indicator that an "exciting journey has begun"," Reuters quoted the president's office as saying a statement late on Friday.

Dangote Cement plans to expand its pan-African production capacity to 55Mt by 2016. Other countries the cement company is investing in include Cameroon, Ethiopia, Zambia, Tanzania, Senegal and South Africa.

On the domestic front, the manufacturer expressed confidence in the sector’s steady progress, stating that the “increase in volumes from Nigeria, were up by 16 percent in the first quarter of 2013, more than the total market growth rate”.