Cement News tagged under: dangote cement
Nigeria: Dangote appoints non-executive director15 June 2016, Published under Cement NewsDangote Cement PLC, Africa’s largest cement producer, announces the appointment of Dorothy Udeme Ufot, SAN, as an independent non-executive director. Mrs Ufot has more than 26 years’ experience in commercial litigation at trial and appellate levels, having been admitted to the Nigerian Bar in 1989 and then admitted to the Inner Bar as a Senior Advocate of Nigeria (SAN) in April 2009. She also qualified as a Chartered Arbitrator at the Chartered Institute of Arbitrators, London, in 2003. ... |
Nigeria: producers hit by falling prices now face naira devaluation09 June 2016, Published under Cement NewsThe devaluation of the naira – agreed in principle by the Central Bank of Nigeria in May – will hit Nigerian producers’ revenues, Bernstein warns. The decision to revalue marks a reversal of course by the government, which had for some time faced calls to allow the currency to depreciate. Bernstein’s analysis focusses mainly on the implications for LafargeHolcim as the only major with a significant presence in Nigeria. It concludes that the company – already facing pressure from a 20 per ... |
Nigeria: Dangote begins construction of Itori-Ibese road06 June 2016, Published under Cement NewsDangote has begun construction of a network of concrete roads in Nigeria, beginning with a 24km stretch linking Itori and Ibese in Ogun state, Leadership reports. Speaking at the inauguration of the first road, Aliko Dangote said that concrete roads offered a means to address the infrastructural challenges faced by African nations. Dangote said: “We have also recently been finally awarded the contract to reconstruct the 42km Obajana-Kabba Road in Kogi State, in concrete. The estimated ... |
Ghana: new Dangote plant02 June 2016, Published under Cement NewsDangote Cement have announced plans to establish another cement plant in Takoradi, Ghana. The new grinding plant will have a capacity of 1.5Mta. The company has acquired 41 acres (17ha) of land for the project. |
Nigeria: Dangote majority contributor to solid mineral revenues26 May 2016, Published under Cement NewsThe Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that Dangote paid NGN15.9bn (US$80m) in taxes on solid minerals in 2013, more than the rest of the industry combined, Vanguard reports. The NEITI report showed that in 2013 the government of Nigeria received revenues of NGN33.86bn (US$170m) in taxes on solid minerals, to which Dangote paid 53 per cent. In all, five cement companies – Dangote, CCNN, Ashaka, Unicem and WAPCO (the last three all owned by LafargeHo... |
Ghana: Dangote appeals for ban on Chinese imports25 May 2016, Published under Cement NewsDangote has called on the government of Ghana to ban imports of Chinese cement, warning that the measure is necessary to save local producers from collapse, Ghanaweb reports. In addition to the economic impact of such imports, Dangote also claimed that Chinese cement was not subject to proper quality checks and as such could put consumers at risk. Joseph Abo, sales and marketing manager of Dangote Cement, said the use of this cement meant Ghana was “building our death traps”. Tor Nygar... |
Zimbabwe: Dangote investment16 May 2016, Published under Cement NewsNigerian billionaire Aliko Dangote has said he will not rescind on the decision to invest in Zimbabwe, despite negative reports concerning the country’s economy. Mr Dangote said in an interview that he currently has a team in Zimbabwe finalising logistics and making preparations to begin operations. His conglomerate intends to set up a cement manufacturing plant capable of producing 1.5Mt per year, whilst also investing in power generation and coal mining. Mr Dangote has already secured th... |
Dangote: 1Q2016 profits down 22% as volumes rise 70%26 April 2016, Published under Cement NewsDangote Cement has released its results for the year to March 31 2016. During this period volume sales grew 69.6 per cent to 6.4Mt, while profits slipped from NGN70bn (US$352m) to NGN55bn (US$276m). Price cuts in Dangote’s Nigerian home market meant that even as volumes climbed 45 per cent to 4.5Mt revenues increased more slowly, rising by 5.7 per cent to NGN107bn (US$538m). The firm estimates that its market share in the period was 66 per cent. Volume growth in other west and central ... |
Dangote: Nigeria’s currency woes will not alter expansion plans22 April 2016, Published under Cement NewsDangote Cement’s annual general meeting, held in Lagos, has seen Aliko Dangote set out his plans to grow the business despite worsening economic conditions, particularly in the company’s Nigerian base. According to reports in This Day, Mr Dangote claimed that foreign exchange volatility – a reference to the Nigerian government’s resistance to calls to devalue the naira – would have no significant impact on the company and its expansionary strategy. Addressing the AGM, Mr Dangote said: ... |
Cement exports on the rise15 April 2016, Published under Cement NewsAs global cement capacity continues to rise against a limited demand increase, there is a swell of cement producers chasing ever-smaller export markets across the globe. News this week that Saudi Arabia has lifted its ban on exports will increase pressure on prices in the Middle East region. The Saudi Arabian export ban had been in place since 2012 when it was renewed from an earlier 2008 period of export control. While lifting of the ban provides a good opportunity for Saudi producers to ... |