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Capital Market
Monday, July 23, 2018
Group CEO, Dangote Cement Plc, Joe Makoju said that the company had invested $ 3 billion to build manufacturing plants and import / grinding terminals in Africa.
The company's operations are done in Cameroon (1.5 metric tons per year), Congo (1.5Mta), Ghana (1.5Mta of import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.7Mta of import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta), according to him Makoju said: "Our performance in the first half was very strong and supported by an excellent recovery in Nigeria, where our sales volumes increased by nearly 14 percent and revenues grew by more than 18 percent.Panafrican operations recorded a slight decline in volumes, but revenues and revenues were up. EBITDA increased due to better price and currency translation effects
"In addition, we realized the largest commercial paper issue ever conducted by a Nigerian company. Series 1 and 2 notes at the end of June, with a discount rate reflecting the strength of our company and its excellent credit ratings. "
He stated that the company's solid performance had been overshadowed by the tragic events adding," I would like to pay tribute to my colleagues, Deep Kamra, Beakal Alelign and Tsegaye Gidey, and offer our sincere condolences to their families.
On the company's future growth plans, Makoju said: "As it stands, I think we will focus on building new mills along the coast. West Africa, and we will ensure that we have clinker export facilities in Nigeria.We are considering the possibility of creating two new lines in Nigeria, possibly from here. the end of 2020, and it is likely that it will be in the state of Edo and Obajana, with a combined capacity of 6Mta. "
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