Management of Dangote Cement has revealed that its pan-African sales increased by 2.7 per cent to nearly 4.7m tonnes for the six months ended on June 30, 2019.
To the delight of its investors, the company also revealed that its plants in Tanzania now run on gas turbines, just as sales volumes from its plants in Senegal are more than 100 per cent of its rated capacity.
These surely are signs of better days ahead for the company’s investors. The company paid a whopping N272.6bn as dividends to its shareholders last financial year, translating to N16 per 50kobo share, an increase of 52.4 per cent against a total dividend of N178.9bn or N10.50 per share paid by the company for the 2017 financial year.
The President of Dangote Group, Aliko Dangote, recently said its cement terminals in Lagos and Rivers states would be concluded before the end of 2019, as a way of further improving its market share.
He promised that the terminals, which were delayed by equipment suppliers, would rake in about $700m in foreign exchange through cement export to sub-Saharan Africa.
The company, he added, would be opening export facilities within the terminals to export clinker and cement to its existing facilities both in Cameroon and other African countries.
“Later in 2019, we will open export facilities in Lagos and Port Harcourt that will enable us export clinker initially to our grinding facility in Cameroon and then to new grinding plans we are building in West Africa. Not only will these generate useful foreign currency for Dangote Cement to support other expansion projects outside Nigeria, they will also help to increase the output of our Nigerian plants,” he said.
He further revealed that the company would be exporting cement through the terminals to Ghana, Cameroon, Sierra Leone and Congo, among others and as such make Nigeria the biggest exporter of cement in sub-Saharan Africa.
Noting that the project would improve job creation and increase the prosperity of the country, he said the company’s capacity would also increase on the completion of the terminals.