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Dangote Cement Company has invested $3b in building manufacturing plants and import/grinding terminals across Africa, Group Chief Executive Officer of Dangote Cement, Joe Makoju, has revealed.
He explained that the investments were located in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.7Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), and Zambia (1.5Mta).
Reviewing the company’s operations in the second quarter of 2018, Makoju said Nigeria’s total sales volumes went up by 13.9 per cent to 7.8 metric tonnes, Pan-African volumes reduced by 3.9 per cent, mainly due to the shutdown in Tanzania.
Makoju said: “In all, the company, which employed 27, 952 workers in Nigeria as at 2017 had its revenue increased by 16.9 per cent and its earning per share also increased by 3 per cent to N6.60 kobo per share for the second quarter, which ended June 30, 2018.
“In addition, we achieved the largest-ever issuance of Commercial Paper by a Nigerian company when we issued ₦50b Series 1 & 2 Notes at the end of June, with a discount rate that reflected the strength of our company and its excellent credit ratings.
“Of course, our strong performance was overshadowed by the tragic event in Ethiopia. I would like to pay tribute to my colleagues Deep Kamra, Beakal Alelign and Tsegaye Gidey and offer our sincere condolences to their families.”