Displaying items by tag: Nigeria
Dangote Cement donates auto rickshaws to host communities
15 February 2021Nigeria: Dangote Cement has donated a total of 10 auto rickshaws to cement plant and limestone mine host communities in Akpata, Iwaa, Obajana and Owo. The Nigerian Tribune newspaper has reported that the aim of the donations is to support business and community transportation. Deputy general manager Ademola Adeyemi said that these fall under the company’s corporate social responsibility.
BUA Cement’s sales and profit after tax rise in 2020
04 February 2021Nigeria: BUA Cement recorded full-year net sales of US$550m in 2020, up by 20% year-on-year from US$460m in 2019. Profit after income taxes was US$185m, up by 16% from US$159m.
In December 2020, Global Cement reported that the company planned to bring three integrated cement plant projects with a total capacity of 9Mt/yr to fruition by the end of 2022. This would bring its installed capacity to 20Mt/yr.
Lafarge Africa to sell 35% stake in CBI Ghana
26 January 2021Ghana/Nigeria: LafargeHolcim subsidiary Lafarge Africa plans to sell its 35% subsidiary Continental Blue Investment (CBI) Ghana. CBI Ghana runs the Supacem brand from the Tema Free Zone near Accra. It reportedly started building a cement grinding plant at the site in 2017 for a cost of US$55m.
Cameroon: Nigeria-based Dangote Cement plans to increase the capacity of its 1.5Mt/yr Douala cement grinding plant near the Cameroonian capital of Yaoundé to 3Mt/yr. The Nigerian Guardian newspaper has reported that the company’s current expansion plan aims at exploiting multiple trade routes within the African Continental Free Trade Area (AfCFTA).
Aliko Dangote said that the plant is “our largest greenfield project in a neighbouring country with which we not only share a border but also a long history of brotherly relations dating from our colonial days. Owing to the rich culture and history that we share, we have a better understanding of Cameroon.” He added, “Our desire to increase our investment with the Phase-2 project is based on not only the fast growth rate of the Cameroonian economy but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroon. Our choice of Cameroon for this multi-million-dollar investment is quite strategic. Cameroon is the largest economy in Central Africa and is well endowed with abundant natural resources. The country also enjoys political stability, adequate security and growing infrastructural development. In addition, President Biya has created an enabling environment that has continued to attract investors both from within and outside the African continent.”
Block manufacturers warn of rising cement prices in Nigeria
08 January 2021Nigeria: The National Association of Block Moulders of Nigeria (NABMON) has warned that its members are struggling to continue their trade due to the high price of cement. The Daily Independent newspaper has attributed the price rise to post-coronavirus shutdown maintenance challenges in the cement industry, increased exports, logistical disruptions and an unseasonably high demand for cement. The association is lobbying government to put in place and enforce competition laws to help return the price to a more ‘stable’ level.
BUA Cement and Dangote to supply discounted cement for social housing scheme in Nigeria
05 January 2021Nigeria: BUA Cement and Dangote have signed an agreement with the government to supply cement at a discounted rate for the construction of 300,000 homes under the government’s Mass Housing Programme, according to The Sun newspaper.
Vice President Yemi Osinbajo said that the producers have agreed to provide cement for this project at a ‘considerable’ discount, which he described as ‘very helpful.’ He added, “Also important is the job creation aspect of it. You have young men and women who are builders, architects and civil engineers working on this project. We are hoping that a lot of the other building materials will be made locally.”
BUA Cement issues US$290m bond
05 January 2021Nigeria: BUA Cement has successfully concluded a US$290m Series 1 fixed-rate senior unsecured bond issue. The Punch newspaper has reported that the company utilised US$290m of its US$505m maiden bond issue in line with regulatory guidelines. It was nonetheless oversubscribed by nearly US$350m. The group said that it will apply to dual-list the bond on the relevant exchanges, subject to necessary approvals.
Lafarge Africa receives product quality certificates from Standards Organisation of Nigeria
05 January 2021Nigeria: The Standards Organisation of Nigeria (SON) has awarded Mandatory Conformity Assessment Programme product quality certificates to Lafarge Africa. The certificates were presented after the company’s Mfamosing cement plant met confirmatory and standardisation requirements set by the SON, according to the Punch newspaper. The subsidiary of Switzerland-based LafargeHolcim said that the certifications further demonstrated its commitment to ensuring quality assurance and compliance with the relevant product standards within the regulatory framework of the government. The certification process followed a series of inspections and connected analysis.
Nigeria: China-based Sinoma CBMI Construction has signed an agreement with BUA Cement to build three 3Mt/yr plants in Adamawa, Edo and Sokoto states respectively. When completed by the end of 2022, the projects will bring the producer’s installed capacity to 20Mt/yr, according to the Vanguard newspaper.
The deal is Nigeria’s largest ever single contract for the construction of cement plants. the project will cost US$1.05bn.
Lafarge Africa launches essay competition
10 December 2020Nigeria: LafargeHolcim subsidiary Lafarge Africa has launched a national essay competition entitled “Building the Nigeria of My Dreams.” The competition is open to all primary and secondary school pupils. The producer says that it ’further affirms the company’s commitment to bridging the literacy gap in Nigeria.’ It said, “This will help improve literacy amongst young adults and also engender loyalty to the nation as they will write about their hopes and aspirations of the Nigerian nation they desire. The online essay competition aligns with reports that show that citizens do much better when they are literate as they become equipped to become better adults and even more successful in their careers.”
Chief executive officer (CEO) Khaled El-Dokani said, "We recognise that the depth and quality of a country’s human capital are as important as its physical infrastructure, hence our investment over the past seven years in enhancing the Nigerian educational sector just as we are committed to empowering Nigerians through our world class building solutions.” He continued, “One of our key sustainability priorities at Lafarge Africa is our commitment to our communities through education and we are actively collaborating with the government and the private sector to improve the country's literacy ratio towards making an impact in reducing the World Bank estimate which states that over 80% of Nigerian primary school leavers cannot read.”
Communications, public affairs and sustainable development director Folashade Ambrose-Medebem said, “We have so far impacted more than 700,000 primary school pupils in 1665 schools across 544 local government areas (LGAs). Our volunteers, who are employees of Lafarge Africa have spent over 6212hr with over 250 public primary students. This crucial involvement shows our genuine concerns about Nigeria’s literacy gap and commitment towards bridging that gap.”