Tag: dangote cement

Sustainability: Dangote Cement commits to carbon emission reduction for business optimisation

Post author By Victor Ogunyinka
Post date October 16, 2024
1 Comment on Sustainability: Dangote Cement commits to carbon emission reduction for business optimisation

Feeds vulnerable communities, empowers children, widows

As part of activities marking the 2024 Global Sustainability Week, leading Cement manufacturer, Dangote Cement Plc has reached out to vulnerable and deprived communities across its business operations with food items and unveiled skills acquisition and educational empowerment initiatives.

This is just as the President/Chief Executive of Dangote Group, Aliko Dangote assured all stakeholders that all his Business Units are committed to optimising their operations to contribute to the attainment of net zero within the global stipulated timeframe.

The reach out initiative, which is one of the hallmarks of the 2024 Dangote Sustainability Week themed “Business Optimisation for Net Zero – The Dangote Journey” saw Dangote Cement identifying the vulnerable groups comprising of children, widows, and the aged. About 250 children and 75 households benefitted from the gesture. The initiative, which was being carried out simultaneously in all the business operations of the Company in Nigeria and other locations across Africa, had the Lagos event held at Ikosi-Ketu in Kosofe Local Government Area of Lagos State.

In his remarks to kickstart the group’s Sustainability Week, Aliko Dangote said the issue of sustainability is a subject that is critically important, not just to Dangote Industries, but for the future of humanity.” “As one of Africa’s largest conglomerates, Dangote is responsible for leading the way in sustainable business practices. The world is facing an urgent climate crisis, and businesses must be at the forefront of the transition to Greenhouse Gas (GHG) emission reduction and energy efficiency,” he said.

According to him, this year’s theme conveys the Company’s support for the United Nations Framework Convention on Climate Change’s goal to stabilise greenhouse gas concentrations in the atmosphere at a level that will curb human-induced interference with the climate system.

“This must happen within a timeframe sufficient to allow ecosystems to adapt naturally to climate change, to ensure that food production is not threatened, and to enable sustainable economic development. At Dangote, we started this journey with a strategic focus on the 7 Dangote Sustainability Pillars (cultural, economic, operational, social, environmental, financial, and institutional) which drive how we do business, and named – The Dangote Way,” the foremost industrialist said.

He emphasised that “in our ongoing journey towards Net Zero, we embrace this Week both as an opportunity and a challenge. It requires us to rethink the way we do business, to be willing to take risks, and to collaborate with partners across industries.”

Speaking during the empowerment programme, the Head, Sustainability at Dangote Cement Plc, Dr. Igazeuma Okoroba said the manufacturing giant has been committed to sustainability. She noted that this year’s sustainability afforded the Cement Company another opportunity “to demonstrate our love for humanity by sharing our sustainability message and showing support to the residents of our host communities.”

Represented by the Sustainability Manager, Dangote Cement, Dr. Oyelola Oyekemi, Igaezuma said, “we all know that the economic situation has contributed to an increase in households with limited access to health and sanitation, proper nutrition, education, and a safe living environment. For this year’s Sustainability Week, Dangote Cement recognises that families and children living in squatter settlements often endure hardship. The growing population of our society has also contributed to the development to the scarcity of jobs, affecting many households as well.

“While some of you work as small business owners and others are in between jobs and many do not even have the skill to help them get the jobs, these challenges limit not just adults but also children’s potentials to become responsible citizens who will transform Nigeria tomorrow,” Okoroba added.

She noted that “for this reason, Dangote Cement implements this charity outreach to support a more sustainable society. We believe your dreams and aspirations for improved health and sanitation, good nutrition, education, and clothing will come true if the private sector supports the government’s efforts. Our visit today is not only to give donations, but it also aims to pave the way for long-term developmental impacts, contributing to the UN Sustainable Goals. And the goals are, Goal 1, No Poverty, Goal 2, Zero Hunger, and Goal 11, Sustainable Cities and Communities.” According to her, contribution to these goals will create a more stable and nurturing environment that promotes family welfare and sustainable communities.

The chairman of Omojuwa Estate Community Development Association (CDA), Mr. Kinyomi Olaniewaja described the programme as timely and would benefit the community considering the present economic hardship in the country. He commended Dangote Cement for the good gesture, emphasising that it was the first time such humanitarian programme would be brought to the community.

Also in his remarks, the Grand Patron of Isokan Ifesowapo CDA, Alhaji Mamuda Ibrahim showered encomium of the management of Dangote Cement for the initiatives designed to bring succour to the vulnerable ones. He then called on other organisations to emulate Dangote Cement and reach out to the less-privileged especially on special occasions such as the Sustainability Week celebrations.

Tags dangote cement, Dangote sustainability

News

Dangote Cement Gboko commits to sustainable infrastructural development of HOSTCOM

Post author By Victor Ogunyinka
Post date August 29, 2024
No Comments on Dangote Cement Gboko commits to sustainable infrastructural development of HOSTCOM

The management of Dangote Cement, Gboko Plant has declared that its host communities are critical stakeholders in its business operations and, as such, their developmental needs are given high priority.

Gboko Plant Director, Louis Raj, emphasised the company’s unwavering commitment to the infrastructural and socio-economic development of the host communities. He assured that every segment of the host communities would benefit from the social investments being made by the company.

Addressing a recent report alleging neglect of the communities, the management clarified that the cement company has always fulfilled its Corporate Social Responsibility (CSR) commitments and has maintained a robust, mutually beneficial relationship with community members.

Mr. Raj noted that the company has been diligently implementing the Memoranda of Understanding (MOUs) with the host communities and has extended its CSR efforts to include sustainable environmental practices, capacity building, and infrastructural development.

He further stated that the Gboko Cement Plant operates in full compliance with environmental and other government regulations. “It is on record and verifiable that all government agencies responsible for industrial ecological assessment have periodically visited the Gboko Cement Plant and certified that it operates within approved industrial environmental limits. The Federal Ministry of Environment, Benue State Agency of Environment, National Environmental Standards and Regulations Enforcement Agency (NESREA), and other oversight agencies can attest to these claims.

“Whenever an incident of ecological concern arises, the company takes prompt action to ensure proper remediation, and, in some cases, provides appropriate compensation to affected community members.”

He explained that the company has actively contributed to alleviating water crises in several communities, even those beyond its immediate host areas. Over the years, the DCP Gboko plant has installed more than 50 hand-pump and motorised water boreholes across various settlements. Of these projects, 17 have been executed in the Mbayion clan, benefiting the immediate host communities of Amua, Tse-Kucha, and the Quarry Community.

Mr. Raj also noted that the company is currently constructing additional motorised water boreholes and is in the process of installing pumps and 30,000-liter capacity steel overhead water tanks for these communities.

“In response to a request from the Tse-Kucha community, the company recently repaired the flow valve at the water earth dam that supplies water for various household uses. Additionally, plans have been finalised for a comprehensive rehabilitation of the earth dam, which was originally constructed and donated to the Tse-Kucha community by the then-Benue Cement Company over 30 years ago.

While these community water projects are underway and nearing completion, the company is currently addressing water supply challenges by providing water to households in Tse-Kucha using tanker trucks positioned at strategic locations within the community.”

The Gboko plant director emphasised that Dangote Cement is committed to environmental sustainability and addressing climate change. He highlighted that the company has implemented a robust climate change policy that aligns its operations with global climate goals. As part of the Group’s environmental sustainability programme, the DCP Gboko Plant has initiated a deliberate decarbonization effort, including extensive tree planting across various community settlements.

“We urge all stakeholders of Dangote Cement, Gboko Plant to collaborate with management to ensure ongoing community engagement and dialogue. This will foster a harmonious and peaceful coexistence and create a conducive business environment for the benefit of all.”

Tags dangote cement

News

Dangote Cement launches students’ industrial internship scheme

Post author By Victor Ogunyinka
Post date August 15, 2024
No Comments on Dangote Cement launches students’ industrial internship scheme

Dangote Cement Plc has launched a novel Internship Scheme for students of tertiary institutions in Nigeria that will see the students undergoing a one-year internship fully funded by the leading cement company.

The scheme, according to the Dangote Cement Lagos Regional Sales Director, Mr Tunde Mabogunje during the induction of pioneer students of Yaba College of Technology, Lagos, has been designed to provide practical and hand on the job experience for excellent Engineering students in the higher institutions across Nigeria.

He explained that the scheme is part of Dangote Cement’s Corporate Social Responsibility (CSR) and offers a unique opportunity for engineering students to apply the knowledge they’ve gained in classrooms and laboratories to real-world situations. By combining their academic learning with practical, on-field training, students will emerge as well-rounded engineers.

Mobogunje said “We are kicking off this phase of the scheme in Lagos and Kano States. A total of 20 students are involved with 10 students selected from each of the two states. In selecting the interns, we wrote to the authorities of Yaba College of Technology and Kano Polytechnic requesting for the list of the best performing students in Building Studies.

“We are to train the selected students on the right application of cement with specific reference to Dangote Cement in accordance with Standard Organisation of Nigeria (SON) prescriptions. The interns are to be deployed to various building project sites while technical officers from Dangote Cement will be on ground to monitor them.”

The Dangote Cement boss pointed out that the project underscores the company’s belief that acquisition of vocational and technical skills is vital to the wellbeing of any sector in particular and the economy as a whole. “They are vital prerequisite for growth. However, dearth of vocational and technical skills has had an adverse effect on the building sector. This internship programme is apt and a major step in the right direction towards addressing the gap. As trainees gain practical field experience, they will be well-prepared to become well-rounded professionals and make significant contributions to the industry.

“At Dangote Group, we are committed to providing vocational training to young Nigerians to equip them with a range of valuable skills. To address gaps in some of our plants, we recruited graduates from engineering and technology-based programmes and trained them in various aspects of industrial operations. These technicians were subsequently deployed to our plants in Obajana, Ibese, Gboko, as well as our sugar and salt refineries in Apapa and Ikeja. They have demonstrated that, with the right training and orientation, young Nigerians excel in every assignment they undertake.

“For our oil refinery and fertiliser plant, we recruited hundreds of graduates of Engineering based courses and sent them abroad for training. This set of professionals are now running the new plants and are training other sets of engineers through skill transfer.

“We provide vocational training programmes for our host communities. The youths are veritable assets in any society and the quality of the youths determines the outlook of tomorrow’s society. Therefore, an investment in developing vocational skills among youths will yield the desired results.”

In his remark, the Rector of Yaba College of Technology, Dr. (Engr.) Ibraheem Adedotun Abdul commended Dangote Cement management for the scheme describing it as a landmark achievement in Corporate Social Responsibility.

He expressed happiness that Yaba College of Technology has been chosen as a pioneer institution for the scheme and assured that the participating students from the institution would live up to expectation and the scheme will achieve its objective of bridging the gap between academic performance and practical experience.

The programme the Rector said would expose the students to practical aspects of their field of studies and so when they finished in school they would have acquired the necessary skills that will make them take off as a professional with ease.

Engr. Abdul stated that the College has other groups, institutions, and Companies which it partners with for the purpose of advancing the skills of the students. He then disclosed that the College management was at the verge of setting up Industry Advisory Committee for which he canvassed for a representative from Dangote Cement.

While noting that the door of Yaba College of Technology is opened to further partnerships by Dangote cement and other similar organisations, the Rector assured that the initiative would make the student sound both on and off the field and be more useful to the society.

Also speaking during the induction, Dangote Cement National Sales Director, Funmi Sani said the internship initiative was not unexpected from Dangote Cement because the company stands for quality and anything that would bring quality into both academic and practical skills application would interest the company.

He urged the students to take the maximum opportunity provided by the scheme to up their game and stand out among the rest, noting that they will be paid by Dangote Cement for the period of the internship.

Tags dangote cement, industrial internship scheme

PRESS RELEASE

Rating: GCR affirms Dangote Industries Limited AA+(NG)/ A1+(NG)

Post author By Victor Ogunyinka
Post date August 6, 2024
No Comments on Rating: GCR affirms Dangote Industries Limited AA+(NG)/ A1+(NG)

Strong earnings prospects from the new refinery

GCR Ratings (GCR) has affirmed the national scale long-term and short-term issuer ratings of AA+(NG) and A1+(NG) respectively accorded to Dangote Industries Limited (DIL). GCR in its recent report also affirmed the national scale long-term issue rating of AA+(NG) accorded to each of Dangote Industries Funding Plc’s Series 1 NGN10.5Bn Tranche A and NGN177.1Bn Tranche B Bonds and Series 2 NGN112.4Bn Senior Unsecured Bond. The outlook on the ratings has been revised to Evolving from Stable previously.

According to GCR, “the ratings were affirmed on the prospects of significant growth in earnings following the commencement of operations at the new petrochemical refinery and robust earnings expectation from the other businesses.”

In the report, the rating agency decried the impact of naira devaluation on DIL performance stating that, “the ratings are constrained by the adverse impact of the currency devaluation on the profitability and financial position of the group, given its significant foreign debt exposure.”

GCR in recognition of the potential of the Dangote Group added, “the group’s business profile is bolstered by the commencement of refining operations in February 2024 (with the production of diesel, Naphtha, heavy fuel oil, and aviation fuel), which now complements the already well-diversified group businesses.

Accordingly, we expect the group’s business fundamentals to become increasingly tilted towards oil refining, given its size as the largest refinery in Africa and Europe. We also expect strong export sales potential given the recent debut exports of refined oil to Europe. The non-oil businesses continue to demonstrate strong earnings generating capacity and market leaderships in their respective sectors, underpinned by the above-peer production capacities and favourable demographics.”

“We have maintained a positive peer comparison consideration for DIL underpinned by the importance of the refinery to the Nigerian economy. However, we have lowered the extent of support applicable under this rating component because we expect the support factors to translate to substantive enhancements to the group’s business and financial profiles over the outlook period. In 2022, DIL raised a cumulative NGN300Bn in Series 1 (Tranches A and B) and Series 2 Senior Unsecured Bonds issued by its sponsored special purpose vehicle, Dangote Industries Funding Plc. Being senior unsecured debt sponsored by DIL, the Series 1 Tranches A and B Bonds and the Series 2 Bond rank pari passu with all other senior unsecured creditors of the group.

Therefore, the Bonds bear the same national scale long-term rating as that accorded to DIL and any change in DIL’s long-term corporate rating would impact the Bonds ratings. We have reviewed the draft trustees’ bond performance report dated 24 May 2024 and note that the coupons have been paid as and when due and there were no breaches to any covenants and pledges in the trust deeds.

However, the group remains highly exposed to volatile energy cost dynamics and is reliant on importation of gypsum for cement, raw sugar input, and crude oil for the refinery” GCR stated.

Tags dangote cement, GCR rating

PRESS RELEASE

Dangote keys into FG Agenda, to run all Cement trucks on CNG by 2025

Post author By Victor Ogunyinka
Post date May 29, 2024
4 Comments on Dangote keys into FG Agenda, to run all Cement trucks on CNG by 2025

Increases shareholders dividend by 50% to N30 per share

Amidst applause by shareholders for the impressive results in the 2023 financial year despite the harsh business operating environment, the Chairman of Dangote Cement Plc, Aliko Dangote has announced an increase of 50 per cent on dividend payout to the shareholders, from N20.00 per share paid in the 2022 financial year to N30.00 for the last financial year 2023.

In the same vein, Dangote also revealed that arrangements are in top gear for thousands of the Company’s delivery trucks to henceforth run on Compressed Natural Gas (CNG) in line with the Federal Government agenda on adoption of alternative fuel for official vehicles.

This decision, Dangote told excited shareholders at the 15^th Annual General Meeting (AGM) of Dangote Cement Plc, held in Lagos was to add to the Federal Government’s quest towards reducing dependence on fossil fuel, thereby enhancing the nation’s energy independence and contributing to a more secure energy future.

According to him: “We are now going to start using CNG vehicles, especially with the new policy of the Federal Government, launched by the Renewed Hope Agenda by His Excellency, President Bola Tinubu. By the end of next year, all our trucks that are operating in the company will be running on CNG, and that is a whole lot of money that we are going to invest. But we are equal to the task, and we will continue to push and make sure that we continue to make our shareholders happy.”

The Chairman disclosed to the shareholders the Company’s ongoing efforts at ramping up production with the ongoing construction of a new plant of 6 million metric tonnes per annum at Itori, in Ewekoro local government area of Ogun State, noting that despite the hiccups at the Apapa Port in Lagos, the plant would be completed to time.

Dangote said the company’s impressive performance was in fulfillment of the promise he made of an enhanced Return on Investments (RoI) to the shareholders and other stakeholders in Dangote Cement, assuring them that the following year would even be better.

He expressed satisfaction that Dangote Cement achieved double-digit growth in revenue of ₦2,208.1 billion, while Group EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) reached a record high of ₦886.1 billion, increasing by 25.1%.

“This outstanding EBITDA performance was underpinned by our robust cost control measures and our diverse pan-Africa operations. The latter acted as a cushion, providing resilience to country-specific risks, while the former enhanced our overall profitability. Our pan-Africa operations now contribute 41.2% to the Group’s overall volumes,” he added.

Dangote pointed out,” We made significant strides in our expansion initiatives, with the successful launch of operations at our 0.45Mta grinding plant in Ghana, increasing our total installed capacity to 52.0Mta. Furthermore, our 1.5Mta grinding plant in Côte d’Ivoire is making substantial progress and is nearing completion. Lastly, we have commenced construction on our 6Mta Itori plant in Ogun State, a crucial step in supporting our ambitious export goals.”

The 2023 results showed that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 per cent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 per cent to ₦455.6 billion. Earnings per share went up by 18.8 per cent at ₦26.47. Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 per cent to 11.3Mt.

In his interview with the media during the AGM, the Group Managing Director of Dangote Cement Plc, Arvind Pathak said 2023 was yet another testament to the effectiveness of the management’s diversification strategy, despite the challenging macroeconomic conditions.

He said; “Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 per cent and now account for 41.2 per cent of Group volume. Consequently, pan-African revenue increased by a record 123.2 per cent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”

Alluding to what Dangote said on use of CNG as an alternative fuel for its cement trucks, Pathak noted that in response to the heightened inflationary environment, “we implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins. These initiatives included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels. We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks.”

Shareholders one after another were full of praise for the board and management of the Company for the impressive outing in 2023, which accounted for the dividend payout of N30 per share; an increase of 50 per cent over the 2022 dividend despite the economic headwind that characterised 2023.

Mrs. Bisi Bakare, Chairperson of the Pragmatic Shareholders Association lauded the management of Dangote Cement for what she described as a huge dividend payout even when many other companies could not pay their shareholders a dime because they declared losses.

She stated that the shareholders were happy, and expressed optimism that with the way the management has steered the Company in the face of the current economic downturn and recorded good results, the 2024 dividend will be higher.

In his comment, the President, of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar said the shareholders could not but thank the board and management of Dangote Cement for a job well done. He noted that no company, in recent time, has been able to be as profitable as Dangote Cement, just because of the sound judgment of the management in navigating the murky economic weather which has had negative impact on results of some other companies.

He commended Dangote for his patriotism and dedication to the cause of Nigeria and her people with his decision to reduce prices of his petroleum products. He expressed hope that the price of Premium Motor Spirit popularly called petrol would come down once the Dangote Refinery rolls out the product soon.

Tags Annual General Meeting, dangote cement, Dangote Truck

PRESS RELEASE

STEWARDSHIP: Host community monarchs laud plant director’s leadership role

Post author By ContentM
Post date April 4, 2024
2 Comments on STEWARDSHIP: Host community monarchs laud plant director’s leadership role

STEWARDSHIP: HOST COMMUNITY MONARCHS LAUD PLANT DIRECTOR’S LEADERSHIP STYLE — Outgoing Dangote Cement, Ibese Plant Director, Azad Nawabuddin (middle) receiving an award from the Aboro of Ibeseland, Oba Rotimi Mulero (left) and his wife, Romana, during the sent forth ceremony by the Ibese Plant management.

Prominent Traditional rulers from Dangote Cement Ibese host communities have commended the leadership ingenuity of the outgoing Plant Director, Azad Nawabuddin saying his pleasant personality has boosted the cordial relationship between the cement company and the host communities.

It was a moment of accolades for Mr Nawabuddin, during a send forth ceremony organized for him by the Ibese Plant to bid him farewell to Obajana where he has been transferred, as the monarchs one after the other took turn to shower encomiums on him.

The Aboro of Ibeseland, Oba Rotimi Mulero described the erstwhile Plant Director as a bridge builder whose leadership and administrative style has influenced better collaborations between the host communities and the Dangote Cement in so many areas.

He said the communities witnessed good projects and enjoyed employment enhancing empowerment programmes during the time of Nawabuddin as the Plant Director and would have wished he stayed longer. “Nevertheless, we are happy that the company management recognized his worth and has decided to second him to a bigger plant after all, the reward for hard work is more work.”

In his own remark, the Olu of Aga Olowo, Oba Kayode Adio Kusoro, said the relationship between the host communities and the Dangote Cement, Ibese has never been more cordial than during the tenure of Mr. Nawabuddin as the Plant Director and that his disposition to the community issues has been very commendable.

“The Plant Director is a good man. He listens to us. He is always concerned whenever we have issues to sort out. And that is why he has also enjoyed our cooperations, the communities, the youths, the women and the royal fathers.”, Olu of Aga Olowo stated.

Amidst applause form the staff and the invited guests, the Head, Social Performance, Ibese Plant, Mr. Ade Ojolowo as part of gestures to eulogize the former Ibese Plant Director and described his administration as very eventful while reeling out some milestones that characterized the stay of Mr. Nawabuddin as the head of the cement plant.

Said he: permit me to share with this gathering, some of the key indicators of the outstanding performance of Mr. Nawabuddin Azad in the course of his leadership of this Plant. His time marked an Increase in Ibese Plant Kilns’ Mean Time Before Failure(MTBF) and reduction in production downtime: Ibese Plant’s Year End average Kilns MTBF was between 181 to 200 minutes until Mr. Azad became the Plant Director. He introduced the use of Asonic Horns and ID fans tipping in all the four Lines to get to the current level of between 580 to 600 minutes. This is over 90% above the budgeted figure of 300 minutes, and has led to significant reduction in production downtime.

“Production volume and dispatch increase: The Plant also witnessed increase in cement production volume from about 6.7 million tons in 2018 to about 7.9 million tons and increase in Cement Dispatch to about 8.0 million tons under the leadership of Mr. Azad.

“In-house refurbishment of Rollers and attendant Forex Savings: DCP used to procure Raw Mills & Cement Mills Roller assemblies for replacement from overseas before Mr. Azad joined Ibese as PD. Procurement of these roller assemblies was stopped through his ingenuity, and in-house refurbishment of the old rollers commenced. This has been successfully implemented till date, with savings of over 500,000 Euros so far.

“Championing of Alternative Fuels Project: ⁠ Ibese Plant is at the forefront of the DCP’s vision to get into International carbon trading after benchmarking its carbon footprint. Thanks to the introduction of the Alternative Fuels Project, which also has led to the stoppage of importation of expensive & high CO2 emission factor, coal. Agro-waste usage and substitution of coal saved the company 2.77 million USD and 17.3 million USD in the year 2022 and 2023 respectively, and the saving is expected to go higher in 2024 due to the just completed AF projects in all the four lines.

“As a friend of the community, Mr. Azad’s passion for the local communities as critical stakeholders to the Plant is outstanding. Our modest achievements in Social Performance in the last couple of years has been through his personal values and commitment, which has yielded unhindered support and collaboration.

“We have been able to record some firsts in our intervention programmes, including the Annual community day event; Women empowerment programme; Care for the elders, and Support for the vulnerable during festive periods etc. It is also to his adulation that we have recorded improved social investment delivery, improved relationship with key government functionaries, and overall local content development.”

Tags dangote cement, Ibese monarchs

PRESS RELEASE

SHARE BUY-BACK PROGRAMME BY DANGOTE CEMENT PLC – COMPLETION OF TRANCHE I

Post author By ContentM
Post date July 21, 2023

July 20, 2023
Lagos, Nigeria

SHARE BUY-BACK PROGRAMME BY DANGOTE CEMENT PLC – COMPLETION OF TRANCHE I

Dangote Cement Plc (“DCP” or the “Company”) hereby announces the completion of the first tranche (“Tranche I”) of its share buy-back programme which was announced on 7 July, 2023.

Relevant details of this Tranche I are set forth below:

Commencement Date:	Monday, 17July, 2023
Completion Date:	Tuesday, 18 July, 2023
Mode:	Open Market on Nigerian Exchange Limited
Total Number of Shares Repurchased:	N41,155,703,818.10
Average Price:	N339.00

Following the conclusion of Tranche I, the total number of issued and fully paid outstanding shares of DCP amounts to 16,752,154,537.

The repurchased shares will be held as treasury shares and may subsequently be cancelled. Execution of this Tranche I did not have any material impact on the Company’s financial position.

For more information, please contact:
Temilade Aduroja
Head, Investor Relations
InvestorRelationsDangoteCement@dangote.com
+234 915 469 1597

Tags dangote cement

PRESS RELEASE

SHARE BUY-BACK PROGRAMME BY DANGOTE CEMENT PLC – COMMENCEMENT OF TRANCHE I

Post author By ContentM
Post date July 7, 2023

July 7, 2023
Lagos, Nigeria

SHARE BUY-BACK PROGRAMME BY DANGOTE CEMENT PLC – COMMENCEMENT OF TRANCHE I

Dangote Cement Plc (“Dangote Cement” or “DCP” or the “Company”) hereby announces the commencement of the first tranche (“Tranche I”) of its newly established share buy-back programme (the “Share Buy-Back Programme” or the “Programme”).

Tranche I will be executed under the approval granted by the Company’s shareholders at the Extraordinary General Meeting of DCP which held on 13 December 2022. Within the framework provided under Section 186 (c) of the Companies and Allied Matters Act, No. 3 of 2020 (as amended) (“CAMA”) and Rule 398 (3)(xiv) of the Securities and Exchange Commission’s (“SEC”) Rules and Regulations, 2013 (as amended from time to time) and in accordance with Rule 13.18 of the Rulebook of the Nigerian Exchange Limited (“NGX”), 2015. Based on the aforementioned shareholders’ approval, the number of shares to be repurchased under the Share Buy-Back Programme will not exceed 10% of DCP’s issued capital.

The Programme is being effected in tranches, with Tranche I being executed by the appointed stockbrokers on the Company’s behalf.

Relevant details of this Tranche I are set forth below:

Tranche Number:	Tranche I
Current Issued and Fully Paid-Up Shares*:	16,873,559,251 fully paid-up ordinary shares of 50 Kobo each (excluding treasury shares)
Tranche Size:	Up to 168,735,593 fully paid-up ordinary shares of 50 Kobo each, representing 1% of the entire current issued shares
Commencement Date:	Monday, 17 July 2023
Completion Date:	Tuesday, 18 July 2023, or when the entire Tranche I size has been purchased; whichever is earlier
Duration:	Two (2) trading days
Mode/Exchange:	Open Market on the NGX
Tranche Number:	Tranche I

*This excludes 166,948,153 shares held as treasury shares, following the conclusion of Tranche I and II of the Company’s previous Share Buyback Programme.

The Company through its appointed Stockbrokers, will at its discretion purchase DCP’s shares in the open market over the duration of Tranche I, subject to prevailing market conditions and under the current daily trading rules of the NGX. DCP would however, not be under any obligation whatsoever to purchase any or all of the DCP shares put on offer over the duration of Tranche I.

The shares being bought back by the Company under the Share Buy-Back Programme will be held as treasury shares, as permissible under CAMA. Execution of this Tranche I is not expected to have any material impact on the Company’s financial position.

Dangote Cement shareholders seeking to participate in Tranche I of the Share Buy-Back Programme are hereby advised to contact their stockbrokers or any other independent professional adviser registered as a capital market operator by the SEC for further guidance on the submission of trades on the NGX’s trading platform.

DCP will provide weekly updates on the progress of Tranche I of the Programme on its website over the duration of this tranche. The Company will continue to monitor the evolving business environment and market conditions, in making decisions on subsequent tranches of the Share Buy-Back Programme.

Shareholders and investors are advised to exercise caution when dealing in the securities of Dangote Cement until the completion of Tranche I of the Share Buy-Back Programme. An announcement will be published upon completion of Tranche I of the Programme.

For more information, please contact:
Temilade Aduroja
Head, Investor Relations
InvestorRelationsDangoteCement@dangote.com
+234 915 469 1597

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PRESS RELEASE

RESOLUTION PASSED AT EXTRAORDINARY GENERAL MEETING OF DANGOTE CEMENT PLC

Post author By ContentM
Post date December 16, 2022

Lagos, Nigeria
December 14, 2022

RESOLUTION PASSED AT EXTRAORDINARY GENERAL MEETING OF DANGOTE CEMENT PLC

This is to inform the Nigerian Exchange Limited (“Exchange”) and the Public, that the Extraordinary General Meeting (“EGM”) of Dangote Cement Plc (“the Company”) was held at Eko Hotel and Suites, Plot 1415 Adetokunbo Ademola Street, Victoria Island, Lagos, Nigeria on Tuesday, the 13^th day of December 2022 at 11:00 am (WAT) prompt and the following sub-joined resolutions set out in the Notice of Meeting were put to the shareholders and duly passed as special resolution:

(A) “That, the Company be and is hereby authorized to undertake a share buyback of up to 10% of its issued shares as of the date of this resolution (excluding any treasury shares in the Company’s share capital), on such terms and conditions, in such volumes and at such times as the Board of Directors (“Board”) deems fit, provided that the authority granted herein shall continue to be in force until the Company has acquired up to an aggregate 10% of its issued shares as stated above.

(B) That, unless otherwise required under applicable laws and regulations or directed by the appropriate regulatory authorities, the Company may cancel such number of issued shares repurchased pursuant to the share buyback or otherwise held by the Company in its issued share capital, as confirmed by the Company’s registrar, and to diminish the amounts of its share capital by the amount of the shares so cancelled, in accordance with all applicable laws and regulations.

(C) That, the Memorandum and Articles of Association of the Company be amended (as applicable), upon completion of the share buyback, to reflect the Company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the Company.

(D) That, the Board be and is hereby authorised to do all such acts and deeds as well as take all such steps (including but not limited to executing such agreements and documents, appoint professional advisers and other parties, complying with directives of any regulatory authority) which may be incidental, ancillary, supplemental, or otherwise necessary to give full effect to the above resolutions and for the aforesaid purpose, on behalf of the Company.”

Yours faithfully,
For: DANGOTE CEMENT PLC

Edward Imoedemhe
Acting Company Secretary

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PRESS RELEASE

Dangote Cement’s CDP Climate Rating Upgraded to B

Post author By ContentM
Post date December 15, 2022

December 14, 2022

Dangote Cement’s CDP Climate Rating Upgraded to B

Dangote Cement Plc (DANGCEM-NL), Africa’s largest cement producer, is pleased to announce that CDP has raised its rating from B- to B for the Company’s commitment to climate change. The rating upgrade indicates that Dangote Cement has addressed the environmental impact of its business and ensures good environmental management. This upgrade demonstrates the continued efforts made by the Company to increase its levels of non-financial disclosure and improve its sustainability reporting.

This year, for the fourth time, Dangote Cement submitted to the CDP, one of the world’s leading research groups focused on climate change. Dangote Cement has received two consecutive rating upgrades over the past two years and in addition to the rating upgrade, Dangote Cement is a CDP supporter.

Commenting on the announcement, Michel Puchercos, Chief Executive Officer, said:

“We are pleased to be recognised again for the progress we are making in our environmental disclosures and sustainability. The CDP rating upgrade clearly illustrates the growth we have achieved in our commitment to transparency on climate and environmental issues. This year, our Alternative Fuel Project has reached an advanced stage and aims to leverage waste management solutions and reduce CO2 emissions. As at 9M 2022, we co-processed 101,553 tonnes of waste representing a 77% increase over last year.

We understand the impact of social and environmental factors on our operating environment and believe that measuring and reporting our activities transparently and consistently is a crucial component in transforming our ecosystem. At Dangote Cement, we will continue to take coordinated steps towards transparency on environmental issues.”

Enquiries: Email InvestorRelationsDangoteCement@dangote.com

For: DANGOTE CEMENT PLC

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