Cement News tagged under: Dangote Cement
Dangote doubles output at its Tanzanian factory21 August 2018, Published under Cement NewsDangote Cement has doubled its cement production in Dar es Salaam in response to Tanzania's cement shortage, which has resulted in higher cement prices. Routine maintenance at some factories has meant lower production and retail cement prices have risen from TZS12,000 (US$5.25) per 50kg bag to TZS22,000 (US$9.63) in recent weeks, reports The Citizen. Dangote Cement's Country Manager, Mr Jagat Rathee said the company has increased its output from 2500tpd to 5000tpd of cement. "We were s... |
Dangote Cement 1H18 revenues of NGN482.4bn23 July 2018, Published under Cement NewsDangote Cement Group reported 1H18 unaudited revenues of NGN482.4bn (US$1.33bn), up 16.9 per cent and group EBITDA up 20.8 per cent at NGN246bn. Joe Makoju, group CEO, commented on the company's 1H18 results: "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues rose by more than 18 per cent. Pan-African operations saw a slight fall in volumes but both revenues and EBITDA increased b... |
Nigeria's cement market shows no let-up23 July 2018, Published under Cement NewsNigeria is pushing its production full-throttle as cement demand begins to race ahead. Dangote Cement is revelling in high 1H18 sales volumes and competing cement companies are building new capacities to increase their market share. "Our first-half performance was very strong and driven by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 per cent and revenues by more than 18 per cent," said Joe Makoju, Dangote's Group CEO. Dangote Cement's total sales... |
Dangote to list in London in 2019?09 July 2018, Published under Cement NewsDangote Cement is considering carrying out its long-planned listing of shares in London after the Nigerian presidential and parliamentary elections on 16 February 2019 and state government elections in March as it intends to expand through acquisitions, according to a report in Business Day. "We are working on it and we’ll look at it in 2019," Edwin Devakumar, group executive director at Dangote Industries, said. "We have grown to this extent mostly via greenfield investments. To grow muc... |
Dangote forecast to increase market share in sub-Saharan Africa06 July 2018, Published under Cement NewsThe removal of tariffs and non-tariff barriers under the African Continental Free Trade Area (AfCFTA) will help Dangote Cement Plc’s expansion plans in sub-Saharan Africa and increase its consumption to 275Mt across 16 countries by 2030, according to a projection released by the Nigeria Office for Trade Negotiations. The Dangote Group has also forecast a 27.1 per cent market share in sub-Saharan Africa in 2018, with this expected to reach 59.4 per cent by 2030. According to the report, sub... |
Dangote to issue shares as part of its NGN150bn Commercial Paper Programme04 July 2018, Published under Cement NewsDangote Cement Plc has announced the issuance of NGN50bn (US$13.9m) series 1 and 2 notes under its NGN150bn Commercial Paper Programme, announced on 27 June 2018. The series 1 and 2 notes will be listed on Nigeria's FMDQ OTC Securities Exchange on 19 July 2018. Funds raised in the Commercial Paper (CP) Programme will be used for capital expenditure, working capital and general corporate purposes. Joe Makoju, Group CEO, said: "This landmark transaction is the largest-ever Commercial P... |
Dangote opens mega warehouse in Nigeria03 July 2018, Published under Cement NewsDangote Cement Co has inaugurated its mega warehouse in Imo State, Nigeria. The warehouse was officially opened by Governor Rochas Okorocha and the president of Dangote Group, Alhaji Aliko Dangote. "Dangote Cement has sold more cement in Imo State than it has done in any other part of the country because of the infrastructural revolution going on in the state. Imo State today is a new state," said Mr Okorocha. This follows Adeyemi Fajobi, national sales and distribution director, announc... |
Sephaku Cement reports 25% fall in net profits28 June 2018, Published under Cement NewsSephaku Cement (Dangote group) reported a 35 per cent slump in net profit to ZAR44m (US$31.7m) on a one per cent decline in revenue to ZAR831m for the year to end-March. "We experienced a challenging operating year as competition in the ready-mix concrete segment intensified characterised by lower volumes and marginal improvement in pricing," Sephaku CEO, Lelau Mohuba, said in the results statement. "The scenario was much more positive on the cement front with improved industry annual pric... |
Cameroon's four main producers plan expansions20 June 2018, Published under Cement NewsCameroon's Mira Cement, a new entry to the market, has announced a project to construct a 1Mta plant in Douala. Meanwhile, all of the country's four main producers have plans to expand their production in the coming years, according to The Africa Report. Cimencam began constructing a 0.5Mta facility at Nomayos, outside of Yaoundé, in March. Cimaf Cameroun is set to triple its current 0.5Mta capacity this year, while Dangote Cement Cameroon is planning a new plant in Yaoundé. Finally, Me... |
Investors urged to finance Dangote and Lafarge Africa growth01 June 2018, Published under Cement NewsFollowing last month's approval of a NGN9.1trn (US$25bn) budget for 2018, Nigeria is set to go on a massive infrastructure spending spree. Eager to be at the forefront of cement supply, Dangote Cement and Lafarge Africa are urging foreign investors to get onboard. The budget is the nation's biggest-yet spending plan, says Bloomberg, with almost a third of it going into roads, rail, ports and power. Furthermore, with a major housing gap of 17m, which is expected to increase in line with a... |