China’s Sinoma to sign $4.34bn Dangote Africa cement plant deals

Dangote Cement will sign $4.34 billion worth of contracts with China’s Sinoma International Engineering Co. on Wednesday to build cement plants across Africa, the Nigeria conglomerate firm said.

 

Dangote Cement production hits 30mmt across Africa

Aliko Dangote, president, Dangote Group, has disclosed that the Dangote Cement annual production across Africa now stood in the region of 30 million metric tons (mmt), a feat that is earning Nigeria respect among the comity of nations.

Speaking at the just concluded Kaduna International Trade Fair, Dangote said “his conglomerate plans big for the African economy,” saying Africans must look inward and put their human and natural resources to best uses, rather than political conflicts.

Reduced cost spikes AshakaCem profit as insurgency weighs on sales

The ability of the savvy management and board of directors of Ashaka Cement in cutting costs has helped to spike full-year profit by 61.70 percent as the security challenges in the Northern part of the country continue to erode sales.

For the year ended December 2014, Ashaka’s profit after tax (PAT) surged by 61.70 percent to N4.56 billion from N2.82 billion the same period of the corresponding year (FY) 2013. Sales increased by 2.68 percent to N21.13 billion.