The Nation Newspaper

Tag: Dangote Cement

  • Okpella monarch assures youths over Dangote cement plant

    Okpella monarch assures youths over Dangote cement plant

    The paramount ruler of Okpella in Edo State, the Okuokpellagbe of Okpella Kingdom, Alhaji Yesufu Dirisu has reassured youths of the community that the decision of Dangote Group to build a cement plant in the community was on course. He dismissed rumours of threats from the community to the investment.

    The Okuokpellagbe gave the assurance at the weekend while addressing youths and members of the Okpella kingdom who stormed his palace to show their displeasure with news making the rounds that indigenes of the community were not favourably disposed to the firm’s plan.

    Dispalying placards with various inscriptions such as “Dangote is a blessing to Okpella Community”; “Come, Dangote come”; “Youths welcome Dangote”, the protesters  said they were at the palace to show solidarity with Dangote in the wake of perceived uncertainties over his decision to invest in the community.

    Representative of Okpella Youth Mr. Kadiri Christopher, said: “History has been made today, particularly on the side of the youths because there were uncertainties about Dangote investing in our community. But today, the youths are saying we are behind Dangote 100 per cent. We are not cursed; we want development in our community.”

    Alhaji Dirisu said the action of the youths had created an opportunity for the world to see the community appreciating the good news from Dangote Group.

    “We want to tell the world that Dangote Group is very much welcome to Okpella to do his business, and to say that every support that he will need from time to time, he will get at all times.”

    Former Chairman of Esako East Local Government Area Godwin Eshieshie also assured the firm of peace, security and concord.

    “There will be no security threat to Dangote anytime he comes. Take the message back that there is no threat of any nature to hinder Dangote’s investment in our community. Okpella is more than glad for this kind of investment because we know it is the number one international investor in Africa and we hope to see him soon.”

    Dangote Cement is constructing a three million metric tones cement plant in Okpella, Edo State. The green field plant is worth $500 million and is to manufacture the quality cement the company is associated with.

  • Students of host communities bag Dangote Cement’s scholarships

    Students of host communities bag Dangote Cement’s scholarships

    Dangote Cement Plc, Ibese Plant in Ogun State has announced a multi-million naira scholarship awards for secondary school and higher institution students from its 14 host communities

    The communities were sent into celebration mood at the weekend when the company presented cheques to 49 students of higher institutions and secondary school, in what is now a yearly activity.

    A monarch in the area, the Olu of Imasayi, Oba Gbadebo Adesola Oni, hailed the company for the gesture, which, he said, has been running for some years since Dangote started production in Ibese land.

    He stated that the communities’ leaders appreciated that there have always been an improvement in the number of the benefitting community members.

    The monarch urged the company not to rest on its oars.

    The Oba Oni saluted the business acumen of the company’s chairman, Alhaji Aliko Dangote.

    He said: “Dangote is a man who loves the development of the people and the Nigerian society. His many investments have been helping the people and the Nigerian society.

    The Olu of Imasayi added that since Dangote Cement was assisting its host communities, he could only pray for peace to continue to reign in the area so that the company would continue to thrive.

    The Acting Plant Director, Louis Raj, described the scholarship as an annual ritual for the company all in the efforts at contributing to the educational development of the people and the host communities.

    He said it was all part of the company’s CSR plan to impact positively on the lives of the people and the community within which it operates and that is what has made the CSR profile of the company to be very robust.

    The company’s Community Relations Officer, Joseph Alabi, highlighted the procedure and criteria for the scholarship award, saying the candidates were recommended by the communities only.

  • Blockmakers endorse Dangote Cement’s N300m promo

    Blockmakers endorse Dangote Cement’s N300m promo

    The President, Block Makers Association of Nigeria, Chief Rashidi Adebowale has assured the Management of Dangote Cement that his association is solidly behind the company in its efforts at enriching 3,783 of its customers and make two Nigerians millionaires daily.

    Speaking in Lagos, Adebowale said Dangote Cement’s management has proveda to be truly Nigerian with the introduction of the best grade of cement and also the decision to enhance the standard of living of its distributors and customers.

    He said: “We are very grateful as an association to the Management of Dangote Cement for this mega promo. I am very optimistic that our members will benefit from this promo. Giving out N300 million at this time of the year is really gratifying. We are happy. We have also instructed our members across the country to aggressively patronise Dangote Cement so as to benefit from the promo.”

  • Dangote Cement begins N300m promo

    Dangote Cement will today begin its biggest promo that will benefit 3,783 customers.

    The promo, which will be activated across the country, will run for three months, with total benefits of N300 million to be shared among the customers.

    Two prizes of one million naira each will be won daily for 90 days by 180 lucky winners for the duration of the promo while a whopping N30 million will be won by a lucky winner every month.

    It was aimed at compensating the firm’s customers across the country.

    Dangote Group’s Chief Marketing Officer Mr. Oare Ojeikere, while explaining details of the promo yesterday, said: “To be part of the promo, all it requires is for the customer to buy a bag of cement and cut out the token at top right of bag.

    “Five tokens will make one entry in the draw. Each entry of five tokens must be attached to a piece of paper with the participant’s name, phone number and address placed in a sealed envelope and dropped off at a designated drop centre.”

    He revealed that 400 Dangote locations and Access Bank branches nationwide would function as drop centres for the entries.

    Ojeikere assured the customers that the management of Dangote Cement would continue to look for new ways of enhancing their value as the level of acceptability of its products remains unprecedented in the history of the nation’s cement business.

    Dangote Cement is Africa’s leading cement producer with three plants in Nigeria and recently opened factories in Ethiopia, Zambia, South Africa, Senegal and Cameroon.

  • Dangote Cement African projects drive revenue to N365.5b

    Dangote Cement African projects drive revenue to N365.5b

    Aggressive African expansion projects by Dangote Cements have started yielding positive fruits as the company for the nine months ended September 30, 2015 recorded a turnover of N365.5 billion, a 17.8 per cent increase over its corresponding year’s figure.

    The company, in the same period exported 3.7 million metric tonnes of cement to neighboring countries. The export underscores the fact that Nigeria is now self-sufficient in cement production.

    Its  Chief Executive, Onne Van der Weijde said: “I am pleased to report that sales from outside Nigeria have contributed nearly 29 per cent of volumes so far this year and 39 per cent in the third quarter, which demonstrates that we are diversifying successfully and quickly gaining market shares in new countries.”

    While revealing that the company has just acquired 2,000 new trucks to help improve its logistics capabilities and enable it enhance its export of cement to neighbouring countries, he said: “Our key target will be Ghana, where we already have an import terminal that is at present supplied from outside the ECOWAS (Economic Community of West African States) region.”

    The nine months unaudited results released on the floor of the Nigerian Stock Exchange (NSE) showed that the cement giants’ earnings per share rose by 18.6 per cent to N9.80.

    Profit before tax at  N166.9 billion for the nine months ended 30th September 2015 represents an increase of 8.4 per cent compared to N154 billion in the corresponding period of last year.

    A breakdown of the results indicated that the cement group posted an operating profit of N173.5 billion, 6.8 per cent higher than N162.5 billion generated last year. Nigerian operations accounted for N162.7 billion, West & Central Africa N2.9 billion, while South & East Africa did N7.4 billion.

    Revenue rose by 17.8 per cent to N365.5 billion following strong performance of non-Nigerian factories while gross profit grew by 13.5 percent to N226.8 billion.

    Onne van der Weijde further said: “Our new operations have made strong starts right across Africa and this has helped to offset the impact of a subdued economy in Nigeria. We remain optimistic that our home market of Nigeria will recover and this will restore growth and improve overall profitability.

    We hope our new pricing strategy will contribute to the country’s economic recovery and particularly urge the government to begin building more robust roads using concrete instead of imported asphalt”

    Dangote Cement is Africa’s leading cement producer with three plants in Nigeria and recently opened factories in Ethiopia, Zambia, South Africa, Senegal and Cameroon.  It is a fully integrated quarry-to-customer producer with production capacity of 29.25Mta in Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.25Mta of capacity across four lines. The Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta. The Gboko plant in Benue State has 4Mta.

  • Dangote Cement empowers block moulders

    Dangote Cement empowers block moulders

    Dangote Cement has donated work tools, including wheel barrows, shovels, rainboots and hand gloves to block moulders in Delta State. The donation was made last week in Asaba, the Delta State capital, during a workshop designed to train block moulders in the state as well as empower them to adopt current best practices in the industry.

    The Regional Director, Marketing Services of Dangote Cement, Mr. Johnson Olaniyi, said the gesture was one of the many incentives lined up by the foremost indigenous cement giant to help block moulders boost their business.

    According to him, the donated items are to enable the block moulders attain the necessary standards in their business, which he said is necessary to ensure safety of buildings as well as curb the menace of sub-standard blocks, which contribute to building collapse.

    Olaniyi said contrary to what some quacks are saying, cement block contribute to the safety and strengthen of a building hence the need to take great care in terms of the components used in moulding them.

    Specifically, he explained that the wheel barrows are meant to assist the block makers in ensuring that they get the right measurements and correct ratio in terms of cement, granite dust and sand, while the rainboots and hand gloves are for protective purposes.

    He advised the block makers to always sieve the sand they use in block making as to remove all embedded debris which could affect the strength of the blocks if retained. He also asked them to use water free from salt and oil contaminants while making blocks.

    Highlighting the advantages of Dangote 3X Cement and other brands in the market, Mr. Olaniyi said “The 3x is an acronym for more profit to the moulders, while allowing the builders to build with peace of mind”.

    He also informed the block makers of several benefits that they stand to derive from using only Dangote Cement in their businesses, assured the block makers that Dangote Cement is putting in place adequate checks and measures to prevent adulteration of the product.

    The elated block moulders were full of praises and appreciation for the items, which they said will enhance productivity and standardization of their products.

    Coordinator, Standards Organisation of Nigeria (SON), Edo/Delta States, Mr. Ojo Akogu, who delivered the keynote paper at the workshop, commended Dangote Cement for its support and collaboration in training artisans and block moulders. He stated that the efforts of the cement company in training block moulders will have a far reaching impact on participants.

    According to him, “SON is thrilled and excited that the workshop for block moulders by Dangote Cement came up. The workshop is to enlighten and educate block moulders. Dangote Cement is creating awareness at the grassroots of the building industry by educating block moulders”.

    A participant and manager, Larfenax Nigeria Enterprises, Asaba, Godwin Muoneke described the workshop as an eye opening. He said, “The idea of coming up with the workshop is commendable. It has broadened our knowledge and understanding in the use of cement especially in block making. We have been educated.”

    Uju Ifeze, a female operator who operates a block making factory, lauded Dangote Cement for coming to their aid. She said it is a good development that Dangote Cement is giving back to block moulders who form a substantial portion of cement users. According to her, safety standards will improve because many block makers who are not using rainboots and hand gloves in their work before now have them as gifts from Dangote Cement.

  • Dangote Cement inaugurates  $400m plant in Zambia

    Dangote Cement inaugurates  $400m plant in Zambia

    Dangote Group yesterday  inaugurated a new cement plant and 30 megawatts (Mw) coal-fired power plant in Zambia.

    The new plant, with the capacity to produce 1.5 million metric tonnes per annum (MTPA)  is located in  Masaiti District, Ndola town in Zambia.

    The cement plant with the power plant came at a  cost $420million. The plant has already started production.

    Speaking during the commissioning, President of Dangote Group, Alhaji Aliko Dangote, said the $400million spent on the new cement plant came from Nigeria, saying that with the plant, the company now has about 14 cement plants located in several countries in Africa.

    He added that the power plant would generate 30Mw, while 20Mw of the generated power would be used by the company while the remaining 10Mw would reserved.

    In the next 10 days,  he disclosed  that a new haulage business would commence operation in the region with   over 400 trucks.

    He told the audience that the company has started the first cement road in the country, adding that it is committed to  the development of the local community by building schools, hospitals and others for them as part of  its Corporate-Social  Responsibility (CSR).

    Aside, he said the company has set up scholarship scheme for students in the universities in Zambia, adding that small scale farmers would be assisted yearly to improve their yields.

    Vice President of Nigeria, Prof Yemi Osinbajo, described the new plant in Zambia as an “important milestone in the relationship” that exists between Nigerian and Zambia.

    He said: ”Dangote and other entrepreneurs have done us very proud. With 1.5 metric tonnes per annum of  cement in Zambia, 2.5 mmtpa in Ethiopia and another cement plants in Senegal, Tanzania  and others countries.’

    With the new investment in Zambia, he said three issues have been brought to the fore namely political stability, human capital development and institutional integration.

    He said with the right institutional framework presently,  this would guarantee an environment where business enterprises thrive.

    He added that with substantive investment in human capital development, this would surely put an end to unemployment,  poverty and poor infrastructure in African continent.

  • Dangote Cement production hits 30m mt in Africa

    Dangote Cement production hits 30m mt in Africa

    WITH the successful inauguration of his plants in Senegal and Cameroon, the President of the Dangote Group, Aliko Dangote, said the Dangote Cement yearly production in Africa has hit 30 million metric tons.

     The achievement, Dangote noted, has earned Nigeria respect on the continent and beyond.

    The industrialist, who spoke at the just-concluded Kaduna International Trade Fair, said his conglomerate “plans big for the African economy”, saying Africans must look inward and put its human and natural resources to best uses, rather than political conflicts

    Dangote, who was represented by the group’s Executive Director, Mansur Ahmad, an engineer, said the company’s cement production has since surpassed Nigeria’s average total consumption of about 20 million metric tons.

    He added that Nigeria under-consumed cement product when compared to other African, Asian and European countries.

    The company, Dangote added, has started production of cement in some African countries, including Senegal, Cameroon and South Africa, adding that by the time it completes its projects in 11 other African countries, the conglomerate’s total production will surpass 50mmt.

     He said Dangote Cement in Nigeria controls about 65 per cent market share and about 30 per cent of the Nigerian Stock Exchange (NSE).

     The investment in other African countries, according to him, was strategic and aimed at supporting governments on the continent by creating thousands of jobs for the people.

    He added that the firm’s involvement in petrochemicals, fertilisers and petroleum refining was another step at helping to reduce poverty in Africa through promotion of gainful employment.

    The industrialist assured that on completion of all the projects, there would be massive employment opportunities.

    The firm’s president said the beginning of refinery and other petrochemicals would make Nigeria to become independent.

    He described as unacceptable, the present development, where Nigeria has to depend on other countries for refined products.

    Commending the organisers of the Trade Fair, Dangote expressed optimism about Nigeria’s economic rebound, adding that both outgoing and incoming leaders have done the citizens proud by ensuring that the country remains peaceful for businesses to thrive.

    A council member of the Kaduna Chamber of Commerce Industry Mines and Agriculture (KADCCIMA), Hajia Rakiya Musa, who spoke on behalf of the organisers, lauded the support of the Dangote Group to both the chamber and the nation’s economy.

    She said what Nigeria needed at the moment was more of Dangotes in the economy.

    But Hajia Musa lamented that most Nigerian businessmen were traders and not entrepreneurs.

  • Dangote Cement $300m Senegal plant targets 70% export

    Dangote Cement Industries has commenced production in its $300 million integrated plant in Senegal, located 65 kilometres outside the capital, Dakar.

    The Country Head of the company, Luk Haelterman said though the company came into a saturated market with the lowest price in the continent of about N1,100, its marketing edge has been its superior quality.

    He said while the two initial manufacturers are producing 32.5  which is a lower quality, the company introduced a higher quality that allows for quicker drying for construction professionals and greater income for the same price.

    He said the modern factory affords huge employment opportunities for the 14 million population with emphasis on sustainability.

    Chief Operating Officer, Athanasios Bampos, said the company has a 4,000-Metric tonnes daily and two million production capacity yearly, including and online stack monitoring with limestone deposit that can last for 150 years. He further said they also have captive electricity that produces 30mega watts of electricity through the exploitation of coal, the first in the country.

    He said: “Our edge is the technology we have brought to bear in cement production and the wealth we are crest across the board for the people and government.”

    Sales and Marketing Director, Mr Serigne Dieng, said the firm is already exporting 70 per cent of the product to neigbouring countries of Mali, Gambia, Mauritania, Cape Verde and Guinea Bissau. According to him there is no significant competition as they have the captive market.

    Director Mines and Geology, Mr. Ousmane Cisse while commending Dangote Cement Industry said the $300million factory remains the biggest investment in his country in the last 15 years.

    He said it had changed the economy of his country especially with the quality and content of the economy. According to him the issue if environmental sustainability, good business practice and compliance with regulatory issues is key and he announced that the company had meet all requirements. He added that his government had responded by offering tax holiday and other incentives to the company.

    Nigerian Ambassador to Senegal, Mrs Katyen Jackden, commended the management of Dangote Cement Industry for its pan  Africanism and the host government for their support to the firm.

  • Stock Exchange extends deadline for Dangote Cement’s capital restructuring

    Stock Exchange extends deadline for Dangote Cement’s capital restructuring

    The Nigerian Stock Exchange (NSE) has granted Alhaji Aliko Dangote, the core investor in Dangote Cement (Dancem) Plc, a two-year extended timeline to reduce his majority shareholding in Dancem in order to deepen public participation in the shares of the cement company.

    The NSE had earlier given Dancem October 2014 to comply with listing regulations that require all quoted companies to have minimum free float of 20 per cent. The management of Dancem had applied and presented compliance plan based on which the NSE approved compliance deadline of October 2014 for the company.

    The Nation’s check indicated that NSE has extended the deadline for Dancem to October 2016, following the failure of Dancem to meet the October 2014 deadline.

    Dancem’s free float, according to NSE official document, remains below free float benchmark at 9.07 per cent, implying that Aliko Dangote’s Dangote Industries Limited (DIL) may have to sell some 10.93 per cent equity stake to the general investing public.

    DIL had earlier sold some equity stake to improve Dancem’s free float from a low of 4.93 per cent to the current position of 9.07 per cent. The South Africa’s government, through its wholly owned investment company, Public Investment Corporation of South Africa (PIC), had acquired 255.61 million ordinary shares of 50 kobo each of Dancem.

    By the expiration of the October 2016 deadline, Dancem is mandatorily required to have completed partial divestments or dilution of the core investor’s shareholdings to free 20 per cent equity stake for public holding, unless the management of the NSE grants fresh waivers and extensions for the companies. In the extreme instance, a company with deficient public float may opt to delist its shares.

    The reduction in shareholding is to enable Dancem to comply with the free float rule at the NSE. Companies listed on the NSE are required to maintain a minimum free float of 20 per cent and 15 per cent for companies on the main board and second tier board respectively. Dancem is quoted on the main board. It is NSE’s most capitalized stock.

    Free float, otherwise known as public float, refers to the number of shares of a quoted company held by ordinary shareholders other than those directly or indirectly held by its parent, subsidiary or associate companies or any subsidiaries or associates of its parent company; its directors who are holding office as directors of the entity and their close family members and any single individual or institutional shareholder holding a statutorily significant stake, which is 5.0 per cent and above in Nigeria.

    Thus, free float’s shares do not include shares held directly or indirectly by any officer, director, controlling shareholder or other concentrated, affiliated or family holdings.

    Stock markets maintain minimum public float to prevent undue concentration of securities in the hands of the core investors and related interests, a situation that can make the stock to be susceptible to price manipulation. Besides, it provides the general investing public with opportunity to reasonably partake in the wealth creation by private enterprises.

    Six other companies are also expected to comply with their scheduled deadlines for improvement of their free floats to 20 per cent. These included Nigerian Insurance (GNI) Plc, Chellarams Plc, Nigerian Ropes Plc, Union Bank of Nigeria (UBN), Capital Hotel Plc and Aluminium Extrusion Industries Plc.

    NSE’s report indicated that GNI currently has 16 per cent of its issued shares in the hands of the general investing public while Chellarams and Nigerian Ropes has 5.20 per cent and 13.96 per cent respectively. Capital Hotel currently has 2.23 per cent of its issued shares in the hands of the general investing public, implying that the core investors will need to sell down about 17.77 per cent to the general investing public or undertake a dilution through new capital issue.  Union Bank has a free float of 13.98 per cent while Aluminium Extrusion Industries has 17.55 per cent.

     

     

    According to the report, the management of the NSE has given GNI a deadline of July 8, 2016 while Aluminium Extrusion Industries and Nigerian Ropes will have to complete their share restructurings by March 2015 and January 7, 2015 respectively. Also, Capital Hotel has a deadline of April 20, 2016 to complete the share restructuring. Union Bank of Nigeria has up till June 2017 to improve its free float.