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Dangote Cement gets new CEO as latest figures show expanding market share across Africa

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Dangote Cement shareholders to split N145bn

Latest performance figures show that Dangote Cement continues to maintain its large share of Nigeria’s domestic cement market, accounting for 65 percent of the Nigerian market volume, while other African plants’ volumes went up by 7.5 percent to 7.0 mta.

These results are coming as the company’s board announced changes to the leadership of the company, with Onne Van der Weijde stepping down as Chief Executive Officer at the end of 2017, having completed three years in this position.

He would be returning to his home country, The Netherlands.

Van der Weijde will be appointed as a Non-Executive Director of Dangote Cement PLC, with effect from 1st January 2018.

In the meantime, Engr. Joseph Makoju, Honorary Adviser to the Chairman and former MD of WAPCO/Lafarge, will be acting MD/CEO of Dangote Cement PLC.

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The Cement company which had in the past months expanded its operations across Africa, the latest being the coming on stream of the 1.5 mta integrated cement plant in Mfila, Republic of Congo, posted some growth figures.

According to the unaudited results for the nine months ended September 30, 2017, the Mfila plant which began operations last month has almost doubled the size of the cement sector in the country. The Congo plant brings to 10 the number of Dangote Cement plants across Africa.

Further analysis of the results indicated that the company recorded strong volumes in Senegal, Ethiopia and Cameroon.

In the nine months under review, the 1.5 mta clinker grinding facility in Douala, Cameroon sold approximately 938 kt of cement, indicating an increase of 16.4 percent on the 806 kt sold during the same period in 2016.

Dangote Cement Ethiopia increased sales by 16.8 percent to nearly 1.7 mta in the first nine months of 2017 representing capacity utilization of approximately 88 percent. The cement plant in Pout, Senegal sold 1.0 mta of cement in the period under review, up by 21.7 percent on the comparable period of 2016. This represents almost 89 percent capacity utilization at the factory.

Van der Weijde, speaking on the results, said, “Our Pan-African operations are performing strongly with excellent sales growth in Cameroon, Ethiopia and Senegal. We are consolidating our success across Africa and have just commissioned our 1.5Mta factory in Congo, the tenth country in which we have established operations.”

“In our key operations in Nigeria we have significantly improved our fuel mix and this has helped increase margins across the Group. It is especially good for Nigeria because most of the coal we are using is mined in our own country”.

 

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