Saudi Arabia: The Ministry of Transport has granted Najran Cement a licence to launch its own limited liability transportation company. Reuters News has reported that the company is in the process of obtaining the final licence for the launch.

Nigeria: 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.”

Oman: The Consumer Protection Authority (CPA) has intervened to suspend operations at a cement producing facility in Al Dhahirah Governorate. The Times of Oman has reported that the suspension results from repeated complaints to the CPA’s consumer protection department about product quality. The operation is also suspended from selling its goods.

Nigeria: 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.