Dangote Cement

Dangote Cement Plc is a Nigerian publicly-traded multinational cement manufacturer headquartered in Lagos. The company is engaged in the manufacture, preparation, import, packaging, and distribution of cement and related products in Nigeria, and has plants or import terminals in nine other African countries.

Dangote Cement Plc
TypePublic
NGX: DANGCEM
IndustryBuilding materials
Predecessor
  • Obajana Cement Plc
Founded1992
FounderAliko Dangote
HeadquartersLagos, Lagos State, Nigeria.
Key people
ProductsCement
Revenue
  • Increase NGN₦386 billion (2013)
  • ₦298 billion (2012)
  • ₦235 billion (2011)
  • Increase ₦243.7 billion (2013)
  • ₦135 billion (2012)
  • ₦118 billion (2011)
  • Increase ₦201 billion (2013)
  • ₦149 billion (2012)
  • ₦120 billion (2011)
Total assets
  • Increase ₦843 billion (2013)
  • ₦673 billion (2012)
  • ₦526 billion (2011)
Total equity
  • Increase ₦550 billion (2012)
  • ₦420 billion (2012)
  • ₦290 billion (2011)
Number of employees
  • Increase 4,477 (2012)
  • 3,428 (2012)
  • 2,854 (2011)
ParentDangote Group
SubsidiariesSephaku Cement
Websitedangotecement.com
Footnotes / references
[1][2][3]

History

It was formerly known as Obajana Cement Plc, and changed its name to Dangote Cement Plc in July 2010.[4] Obajana Cement Plc was incorporated in 1992. Dangote Cement Plc is a subsidiary of Dangote Group and is the largest company traded on the Nigerian Stock Exchange.[5]

Dangote Cement listed on the Nigerian Stock Exchange in October 2010, and as at August 2014 accounts for 20% of the total market capitalization of the Exchange.[6] In 2014, the Investment Corporation of Dubai (ICD) purchased a $300 million stake in Dangote Cement.[7]

Aliko Dangote has invested US$6.5 billion into the company between 2007, and 2012. Cement accounted for roughly 80 percent of Dangote Group's business as of 2011.[8]

Operations

The Dangote Cement plant in Obajana, Kogi, is the largest in Sub-Saharan Africa with 10.25 million tonnes per year capacity across three lines and a further 3 million tonnes per year capacity currently being built.[9]

In 2012, the firm opened a $1 billion cement plant in Ibese, Ogun. The facility is capable of producing 6 million metric tonnes of cement per year, raising the company's total production by 40 percent at the time.[10] The plant was installed by the Chinese construction and engineering firm Sinoma, and represents one of the largest non-oil investments in Nigeria.[11]

The company's plant in Gboko, Benue has 3 million tonnes per year capacity with an upgrade to 4 million tonnes per year planned in 2013.[2] A plant in Senegal along with a plant in Tanzania opened in 2015.[12] That same year, a plant was opened in Ethiopia also, which came under threat of civil unrest in 2017, and civil war in 2021.[13]

References
  1. "CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS 31 DECEMBER 2013" (PDF). Dangote Cement Plc.
  2. "Audited Results for the year ending 31 December 2012" (PDF). Dangote Cement Plc.
  3. "Dangote Cement 2011 Annual Report" (PDF). Dangote Cement Plc.
  4. "The ta-ta-ta-ta-ta at Obajana". TheCable. 2022-10-09. Retrieved 2023-01-19.
  5. "Dangote Cement Plc (DANGCE.ng)".
  6. Tim Cocks (June 11, 2012). "Nigeria's Dangote expands his "cement powerhouse"". Reuters. Retrieved June 12, 2012.
  7. "UPDATE 1-Dubai's ICD buys $300 mln stake in Nigeria's Dangote Cement". Reuters. 2014-09-08. Retrieved 2022-05-11.
  8. Emma Ujah (October 17, 2011). "Dangote Cement capitalisation hits $15 billion, says Paramjit". Vanguard Nigeria. Retrieved June 22, 2012.
  9. Bangudu, Oluwaseyi (2013-05-03). "Dangote Cement declares huge profit in first quarter of 2013". Premium Times Nigeria. Retrieved 2023-01-19.
  10. "Nigeria's Dangote Cement opens new $1 bln plant". Reuters. February 9, 2012. Retrieved June 22, 2012.
  11. "Aliko Dangote opens Nigeria's biggest cement plant". BBC News. June 11, 2012. Retrieved June 22, 2012.
  12. "Dangote Cement begins operation in Senegal". Archived from the original on 2015-07-15. Retrieved 2015-07-15.
  13. Moneycentral, 10 November 2021: Dangote Cement’s $500m Ethiopia Plant at Risk as War Escalates
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