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Dangote cement sustains 54,000 jobs in four African countries

Dangote cement sustains 54,000 jobs in four African countries
Alhaji Aliko Dangote

President of Dangote Group, Aliko Dangote, has mentioned that regardless of the difficult financial state of affairs in 2019, Dangote cement was capable of maintain 54,000 jobs in 4 African nations, the place the corporate has its operations: Nigeria, Ethiopia, Senegal and South Africa.

The enterprise mogul informed shareholders on the Company’s 11th Annual General Meeting in Lagos that extra jobs could be created as the corporate intensifies export of clinker to different neighboring nations from Nigeria.

He mentioned: “According to our 2019 socioeconomic impact assessment study specifically on our operations in Nigeria, Ethiopia, Senegal and South Africa, we sustained 54,005 jobs (direct, indirect, induced) in these four markets in the year under review.”

Dangote Group is the best employer of labour in Nigeria, exterior the Federal Government and with its Refinery mission developing, the corporate could have greater than 100,000 Nigerians underneath his employment.

It could be recalled that Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, whereas lauding the funding drive of Dangote not too long ago mentioned he’s excited with the progress made at Dangote Refinery and Petrochemical plant to date, and that when it turns into operational, the refinery and petrochemical plant will improve its workforce from the present 34,000 to over 70,000.

Briefing shareholders on the 11th Annual General Meeting (AGM) held in Lagos final week, Dangote, informed the shareholders that the yr 2019 was a powerful yr given the powerful enterprise setting throughout most of its working geographies, disclosing that the Group recorded volumes of 23.7 million metric tonnes and revenues of ¦ 891.7 billion.

He mentioned; “We recorded a strong EBITDA margin of 44.3%. As a result of this performance, the Board has recommended for your approval a dividend of ¦ 16.00 per ordinary 50 kobo share.”

Speaking on the native Nigerian operations, he mentioned, “Nigeria’s cement market grew slightly in 2019. We estimate that total market consumption was up between 2%-3% on the 20.7Mt estimated in 2018.”

Dangote defined that the modest efficiency was despite the truth that the market typically was impacted negatively by the disruptions associated to the 2019 election cycles, heavy rains and the loss in land export volumes as a result of border closure.

“Dangote Cement’s Nigerian operations remained at 14.1Mt in 2019, together with export gross sales of 0.45Mt. Domestic gross sales in Nigeria have been almost 13.7Mt, in comparison with 13.4Mt in 2019. This implies a 2% development mirroring the estimated GDP development for the yr. However, land exports lowered to 0.45Mt from 0.7Mt for the complete yr owing to the border closure in the previous few months of 2019.

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“The Bag of Goodies promotion, launched in July, drove strong increases in our Nigerian volumes in the third quarter”, Dangote identified, including that the progressive advertising and marketing effort enabled the corporate to take care of its market share regardless of the 4.5Mt new capability which got here into the market in the course of the yr.

He alluded to the brand new feat by Dangote Cement in commencing export of clinker by way of delivery from the Apapa and Onne ports to West and Central Africa, including that the administration was inspired by the efficiency of its offshore operations.

Dangote famous that Pan-African operations offered 9.44Mt of cement in 2019, up 0.8% on the 9.37Mt offered in 2018. “Including clinker, Pan-Africa volume was 9.6Mt. The total Pan-African volume represents 40.1% of Group volumes. Pan-African revenues of ¦ 282.7 billion were 0.2% lower than FY 2018 and represented 31.7% of total Group revenues. The region’s EBITDA contribution of ¦ 47.9 billion (before central costs and eliminations), represented 12.1% of Group EBITDA, at a regional margin of 16.9%, compared to a margin of 17.3% in 2018.”

According to him, stronger efficiency was recorded in Tanzania, Senegal and Sierra Leone. “Looking ahead, we expect to further deploy our clinker and cement export strategy across West and Central Africa. The completion of our 1.5Mt grinding plant in Cote d’Ivoire is expected by the end of 2020.”

Dangote lamented that the world faces the stark actuality of a significant well being disaster, accompanied by a devastating affect on the worldwide economic system, noting that in these instances, the corporate’s high precedence stays the well being and security of its workers, clients, suppliers and society at massive.

“As Africa’s largest cement manufacturer, we take seriously our role of social responsibility and we have taken deliberate steps to deploy resources to help our communities overcome hardships in this crisis,” he added.

Vanguard

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