• Sun. May 26th, 2024

Dangote Cement’s Clinker And Cement Exports Surge by 87.2% In First Quarter of 2024

ByHybrid News

Apr 29, 2024

Dangote Cement Plc has reported a substantial increase in its export of clinker and cement during the first quarter of 2024, signaling a significant boost in its regional market presence. According to the management of the company, Dangote Cement dispatched seven ships of clinker from Nigeria to Ghana and Cameroon, marking an impressive 87.2% surge compared to the same period last year, with exports totaling 264kt.

In addition to its export endeavors, Dangote Cement also witnessed a surge in local demand for cement within Nigeria, which spiked by 26.1% to reach 4.6Mt for the first quarter of 2024. Overall group volume saw a commendable increase of 12.3%, reaching 7.0Mt during the same period.

Arvind Pathak, Chief Executive Officer of Dangote Cement, expressed satisfaction with the first-quarter results, highlighting the company’s commitment to expanding its regional footprint and leveraging its export-to-import strategy. Pathak emphasized the company’s focus on innovation, cleaner energy transition, and cost leadership as key drivers towards achieving sustainable growth and transforming Africa’s cement industry.

The company’s financial performance for the quarter reflects its resilience and adaptability in the face of dynamic business environments. Dangote Cement reported a Group revenue of N817.4 billion, with profit after tax increasing by 2.9% to N112.7 billion. Earnings per share closed at N6.68, representing a 3.7% increase.

As part of its sustainability efforts, Dangote Cement has commissioned ten out of seventeen Alternative Fuel Projects across the Group, underscoring its commitment to environmental responsibility and resource efficiency.

Dangote Cement, Africa’s leading cement producer, boasts a production capacity of 52.0Mta across the continent, with fully integrated operations spanning from quarry to customer. In Nigeria alone, the company operates with a production capacity of 35.25Mta, including the renowned Obajana plant in Kogi state, which holds the distinction of being the largest cement plant in Africa.

Through strategic investments and operational excellence, Dangote Cement has not only eliminated Nigeria’s dependence on imported cement but has also transformed the nation into a net exporter of cement, serving neighboring countries across West Africa.

With operations spanning multiple African countries, including Cameroon, Congo, Ghana, Ethiopia, Senegal, Sierra Leone, South Africa, Tanzania, and Zambia, Dangote Cement continues to play a pivotal role in driving economic growth, infrastructure development, and regional integration across the continent.

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