Dangote cement latest news

Here are some of the latest news updates on Dangote Cement:

Recent Developments:

  1. Expansion Plans: Dangote Cement has announced plans to expand its operations in Africa, with a focus on Nigeria, Senegal, and Ethiopia. The company aims to increase its production capacity by 30% in the next three years. (Source: Bloomberg)
  2. New Plant in Nigeria: Dangote Cement has commissioned a new cement plant in Okpella, Edo State, Nigeria. The plant has a production capacity of 3 million metric tons per annum. (Source: Vanguard News)
  3. Investment in Logistics: Dangote Cement has invested in a logistics company, Dangote Logistics, to improve its distribution network and reduce transportation costs. (Source: BusinessDay)
  4. Sustainability Efforts: Dangote Cement has launched a sustainability strategy aimed at reducing its environmental impact and improving its social responsibility. The company has set targets to reduce its carbon footprint, water consumption, and waste generation. (Source: ThisDay Live)
  5. Awards and Recognition: Dangote Cement has received several awards and recognition for its business excellence and sustainability efforts. The company was recently named the "Best Cement Company in Africa" by the African Business Awards. (Source: African Business)

Financial Performance:

  1. Q1 2023 Results: Dangote Cement reported a 12.1% increase in revenue to N1.34 trillion in the first quarter of 2023. The company's profit after tax also rose by 15.6% to N242.8 billion. (Source: The Guardian)
  2. 2022 Financial Results: Dangote Cement reported a 14.1% increase in revenue to N5.43 trillion in 2022. The company's profit after tax rose by 17.4% to N934.8 billion. (Source: BusinessDay)

Industry Trends:

  1. Cement Demand: The demand for cement in Africa is expected to grow at a CAGR of 5.5% between 2023 and 2028, driven by infrastructure development and urbanization. (Source: ResearchAndMarkets)
  2. Competition: The cement industry in Africa is highly competitive, with several players vying for market share. Dangote Cement faces competition from companies such as LafargeHolcim, HeidelbergCement, and PPC. (Source: Bloomberg)

I hope this information is helpful!