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Nigeria's most capitalized listed company, Dangote Cement Plc, invested $ 3 billion in its pan-African operations as the cement group continues to invest in the expansion of its plants and terminals across the country. continent.
Cement Plc, Engr. Joseph Makoju said the cement group had invested $ 3 billion to build manufacturing plants and import and grinding terminals in Africa.
The group's activities include Cameroon, crushing clinker of 1.5 Mta; Congo, 1.5 Mta; Ghana 1.5 Mta of import; Ethiopia, 2.5 Mt; Senegal, 1.5 Mta; Sierra Leone, import of 0.7 MT; South Africa, 2.8 Mta; Tanzania, 3.0 Mta and Zambia, which has a plant of 1.5 Mta.
Makoju stated that Nigeria's total sales volumes increased by 13.9 percent to 7.8 million tons in the second quarter ended June 30, 2018, although the pan-african volumes he said, the group, which employed 27,952 workers in Nigeria in 2017, revenue increased by 16.9%, from $ 412.68 billion in 2017 to $ 482.44 billion in 2018. At the end of the second quarter, earnings per share also increased by 3% in N6.60 kobo per share
"Our first half performance was very strong and driven by a strong recovery in Nigeria, where our sales volumes increased by almost 14 percent and revenues grew by more than 18 percent. Pan-African operations saw a slight decline in volumes, but revenues and EBITDA increased due to better currency conversion and conversion effects, "said Makoju
. issued Series N Notes
"Of course, our performance has been overshadowed by the tragic and heartbreaking events in Ethiopia, and I would like to pay tribute to my colleagues – Deep Kamra, Beakal Alelign and Tsegaye Gidey and offer our sincere condolences to their families." [19659002] Key highlights of the half-year report for the period ended June 30, 2018 showed that pre-tax profits increased from 155.58 billion naira in the first half of 2017 to 185.54 billion nair in the first half of 2018. Profit after tax rose from 109.71 billion to 113.16 billion naira, while earnings per share rose from 6.41 to 6.60
At the annual general meeting of the cement group last month, Alhaji Aliko Dangote, chairman of Dangote Cement Plc, had attributed 31% growth in N805.6 billion group revenue in 2017 to the growth of his pan-African operations He also noted that Pan African operations increased volumes by 8.4%, with Ethiopia, Senegal, Cameroon and South Africa all having strong growth. and close to Makoju had noted that growth had been motivated by the decision to increase the use of local coal in Nigeria, to improve fuel safety, to maintain the availability of production and to reduce the need for foreign currency.
our parent company, Dangote Industries and another Nigerian supplier, and we are very pleased with how it worked for us because it allowed us to phase out the use of In the plans for future growth, Makoju said the group will focus on building new mills along the coast of Africa. West, and that it will have clinker export facilities in Nigeria.
We are studying 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 combined capacity of 6.0 Mta ", said Makoju.
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