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** Invests $ 3b on Factories, Crushing Terminals
By Dipo Olowookere
General Manager of the Dangote Cement Group, Mr. Joe Makoju revealed that the company has invested $ 3 billion to build factories manufacturing and import According to Mr. Makoju, in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta of import), Ethiopia (2.5Mta) and Senegal (1.5Mta) mta). ), Sierra Leone (0.7Mta of import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).
For the second quarter under review, Makoju also revealed that the pan-African volume declined by 3.9 percent, mainly due to the closure of Tanzania.
In total, the company, which employed 27,952 workers in Nigeria in 2017, saw its revenues grow by 16.9% and its turnover increase by 13.9%. Earnings per share also rose 3 percent to N6.60 kobo per share for the second quarter, Mr Makoju said: "Our performance in the first half was very strong and supported by a strong recovery in Nigeria, where our sales volumes increased by almost 14% and our revenues by over 18%. Pan African operations saw a slight decline in volumes but revenues and EBITDA increased due to better price and currency translation effects.
"In addition, we realized the largest commercial paper issue ever by a Nigerian company, and at the end of June, the Series 1 and 2 Billion Dollar Notes were backed by a discount rate reflecting the strength of our company and its excellent credit ratings
"Of course, our performance was overshadowed by the tragic events I would like to pay tribute to my colleagues Deep Kamra, Beakal Alelign and Tsegaye Gidey and offer our sincere condolences to their families. "
Recall that the President of Dangote Cement, at the last annual general meeting of the company (AGM), Mr. Aliko Dangote awards the 31% increase of the business turnover of N805.6 billion, for the 2017 fiscal year, to its pan-African operations growth which also recorded a significant increase in its revenues of 195 billion to 258.4 billion He said: "Pan African operations have increased volumes by 8.4%, with Ethiopia, Senegal, Cameroon and South Africa all having strong results and close to their operational capacity "
. In sub-Saharan Africa, Dangote stated that management has responded robustly and benefited from "… the diversity we have created in all of our activities and through our local knowledge. Explaining the reasons for the success achieved by Dangote Cement 's business figure, Acting Group Managing Director, Mr Joe Makoju, said: "… this increase has been facilitated by our decision to increase our figure. the use of local coal in Nigeria, which has also helped to improve the safety of our fuel, maintain the availability of production and reduce our need for foreign exchange.We buy coal from our parent company, Dangote Industries and another Nigerian supplier, and we are very pleased with the way it worked for us, as this allowed us to phase out the use In the future, Mr. Makoju said: "As it stands, I think we will focus on building new mills along the road. coast of West Africa, and we will ensure we have clinker export facilities in Nigeria. We are looking into the possibility of two new lines in Nigeria, perhaps by the end of 2020 and it is likely that they will be in the state of Edo and Obajana, with a capacity of combined of 6Mta. "
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