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Tag: Dangote Cement

  • 171 millionaires emerge in Dangote Cement Promo

    171 millionaires emerge in Dangote Cement Promo

    Dangote Cement Plc says 171 millionaires across the nation have emerged in its ongoing ‘Bag of Goodies Promo season 2’.

    The company made this known in a statement signed by Mr Anthony Chiejina, Group Head, Corporate Communications, Dangote Industries Limited on Sunday.

    The promo, which kicked off in July, is expected to produce 1,000 millionaires by November 5, 2020.

    According to the statement, the increase in the number of millionaires came as a result of new winners who were given star prizes at ceremonies held in Lagos, Enugu, Port Harcourt and Ibadan.

    Speaking at the presentation of dummy cheques to winners in Port Harcourt, Regional Director, South-South Dangote Cement, Mr George Okoro, said that the promo was to reward Nigerians.

    He said they were rewarded for their continued patronage of Dangote Cement over the years.

    He added that the company was well committed to uplifting and raising the standards of living of Nigerians as well as their financial stability.

    He charged the winners not to relent but invest the prize wisely to yield more benefits in the future for them.

    The Dangote Regional Director stated the company’s readiness to give out one billion naira to 1000 customers.

    He noted that other prices to be won included refrigerators, tricycles, recharge cards and television sets.

    Also, Regional Director, Lagos/Ogun, Tunde Mabogunje, at the prize giving ceremony in Ikeja, commended the winners for their loyalty and continuous use of Dangote Cement in their projects.

    He said the company was making progress because of consumers who formed the end chain in the distribution of any product.

    “Without consumers, no product will become a success,” he said.

    Mr Bankole George, Regional Director, South East, addressing the winners at the event held at the regional office in Enugu, tasked them to buy more of Dangote Cement to improve their chances of winning.

    He urged the purchase of Dangote cement in the completion of building projects by taking advantage of the timing of the current promo in a win-win situation.

    “Whoever completes his projects this period and still wins one millionaire naira in the promo has won on two fronts,” he said.

    In her remarks, Director of Marketing, Dangote Cement, Mrs Funmi Sanni, said the promo came at an appropriate time to cushion the effects and impact of COVID-19 on businesses and families.

    Sanni said the company had been making efforts to satisfy its teeming customers to the fullest.

    She added that apart from the premium quality of the product, the firm has also introduced several customer-driven promotional offers in order to keep their relationship intact.

    According to her, a customer could only win the N1 million cash prize on collection of the scratch cards that each carried letter D, A, N, G, O, T and E to make up the name DANGOTE.

    “Winners were presented with dummy cheques and received alerts during the presentation ceremonies held in several cities across the nation,” she said.

    Chief Commercial Officer, Dangote Group, Mr Rabiu Umar, in his remarks, said following the negative impact of COVID-19 on the economy, Dangote Cement decided to award total of N1 billion to 1,000 winners across the country.

    According to him, the company deemed it fit to continue with the second phase of the promo, tagged Bag of Goodies 2 in order to give back to the society to cushion the effects of the pandemic.

    Umar noted that the promo was like palliative to the teeming customers in the wake of the pandemic as most of them had suffered economic hardship caused by the coronavirus.

    “Despite effects of COVID-19 on global economy, Dangote cement company has decided to go ahead with the Bag of Goodies promo in order to give back to the society.

    “This promo is like a palliative to our teeming customers who have suffered economic hardship, occasioned by the pandemic.

    “Therefore, this would at least cushion the effects of the pandemic.

    “We feel that despite the pandemic, it is worthy to put a smile on the face of our teeming customers across the country. I am sure we have achieved our aim in this round of the promo, ” he said.

  • FG presents Tax Credit Certificates to Dangote Cement, NLNG

    FG presents Tax Credit Certificates to Dangote Cement, NLNG

    The Federal government on Tuesday handed over the first batch of tax credit certificates to the managements of Dangote Cement plc and Nigeria LNG Limited (NLNG).

    The certificates were presented to the companies in line with Executive Order #007 on the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

    Recall that President Muhammadu Buhari had on January 25, 2019, President Muhammadu Buhari launched the scheme under Executive Order #007 pursuant to which he approved the construction and rehabilitation of 19 Nigerian roads and bridges of 794.4km across 11 States.

    ALSO READ Lafarge Merges with UniCem, Atlas Cement

    The scheme is a move by the federal government of Nigeria to incentivize private investment of over N205 billion into critical roads and bridges infrastructure, nationwide.

    At the presentation ceremony today at the Ministry of Finance, Budget and National Planning in Abuja, the Permanent Secretary Finance, Mr Mahmud Isa-Dutse, commended the two firms for supporting government to bridge the infrastructural deficit in the country.

    The Federal Inland Revenue Service (FIRS) issued a tax credit certificate to NLNG for the construction of the Bonny Bodo Road with bridges across the Opobo Channel in Rivers State.

    Dangote Cement PLC got its for the rehabilitation of Phase II of the Lokoja-Obajana-Kabba-Ilorin Road (Section II: Obajana-Kabba in Kogi/Kwara States).

    Present at the ceremony were senior management staff of NLNG, Dangote Cement, ministry officials and Special Advisers to the Minister, Mrs Zainab Ahmed.

  • Dangote Cement records fall in revenue, profit in Q1 2019

    Dangote Cement records fall in revenue, profit in Q1 2019

    Dangote Cement, the flagship company of Africa’s richest man, Mr Aliko Dangote, on Friday, April 26, 2019, released its financial position as at the end of March 31, 2019.

    From the results briefly analysed, the leading cement maker in Nigeria recorded decline across key performance indicators.

    For instance, the revenue generated by the company in the period under review dropped to N240.2 billion from N242.1 billion and a closer look into the cause of this showed that there was a slight drop in the cement production volume to 5.97 million tonnes in Q1 2019 from 6.04 million tonnes in Q1 2018.

    Also, the reduction in the trade cement purchases to 187,000 tonnes in the reviewed period from 233,000 tonnes in the same period of last year had an effect on the revenue generated by the firm.

    It further said the production cost of sales increased to N99.5 billion from N97.4 billion, while the gross profit went down to N140.7 billion from N144.8 billion, with the administrative expenses shooting up to N13.2 billion from N11.9 billion.

    During the period being reviewed, the selling and distribution expenses rose to N39.6 billion from N29.6 billion, while the profit from operating activities decreased to N88.4 billion from N103.8 billion.

    It was a similar situation for the finance income, which reduced to N2.3 billion from N2.6 billion, while the finance costs jumped to N11.7 billion from N10.5 billion.

    The profit before tax was not any different from the previous performance indicators as this dropped to N79 billion from N108.4 billion, while the profit after tax declined to N60.3 billion from N72.1 billion.

    The poor performance recorded by the company spread to the earnings per share, which closed lower to N3.54 kobo from N4.20 kobo.

  • Stanbic IBTC assists Dangote Cement with another benchmark

    Stanbic IBTC assists Dangote Cement with another benchmark

    Stanbic IBTC Capital and Stanbic IBTC Bank, subsidiaries of Stanbic IBTC Holdings PLC, have partnered with Dangote Cement PLC (“Dangote Cement” or the “Company”), Africa’s largest cement producer, to conclude yet another issuance of N50 billion Series 3 and 4 Notes, under the recently established Dangote Cement PLC’s N150 billion CP Programme. Issuance of the Series 3 and 4 Notes closed on Friday 17 August 2018.

    Stanbic IBTC Capital is Sole Arranger of the CP Programme, and acted as Joint Dealer for the Series 3 and 4 Notes, whilst Stanbic IBTC Bank is the

    Issuing, Calculation and Paying Agent for all Notes issued under Programme. The Series 3 and 4 Notes will be listed on Nigeria’s FMDQ OTC Securities Exchange.

    Reflective of Dangote Cement’s top-notch ratings (Aaa/AA+ by Moody’s/GCR), the Series 3 (180-day) and 4 (270-day) notes priced at thin spreads of 25 and 50 basis points over the chosen primary market Sovereign benchmark (OMO rate), to achieve discount rates of 12.40% and 12.65% respectively. The N50 billon offering was 158% subscribed, with a robust and high quality order book closing at N79 billion. The order book featured bids from a diversified pool of funds managed by Pension Fund Administrators, Asset Managers, Insurance Companies, Trustees, Registrars, Corporate Treasuries and Private Bank HNI clients. Thus, the level of oversubscription generated from a high quality and diverse order book, also validates DCP’s rich non-bank investor base, achieved through the Company’s strategic efforts to broaden and diversify its funding sources.

    Funds raised in the CP Programme are to be used the Company’s working capital and general corporate purposes.

    Speaking in relation to the highly successful offering, Kobby Bentsi-Enchill, the Executive Director and Head, Debt Capital Markets, Stanbic IBTC Capital, expressed delight that Dangote Cement was able to achieve yet another landmark CP issuance, within 6 weeks of its inaugural offering. According to Mr. Bentsi-Enchill, Stanbic IBTC Capital is committed, in line with the Stanbic IBTC Group’s value proposition and investment banking pedigree, to assist our clients with high quality advisory and arranging services that enhances their growth and expansion prospects by providing access to a diverse range of financing options within the domestic capital markets. “Stanbic IBTC Capital will continue to exploit opportunities that support our clients with access to critical funding, short and long term, for their needs. This, we expect, will help stimulate growth via the mobilisation of debt and equity capital market instruments,” Bentsi-Enchill said. “We will continue to leverage our excellent investment banking pedigree as well as the strength of our franchise in the Standard Bank Group, the largest financial institution in Africa, to consummate such big ticket deals that will not only help businesses grow but also help deepen our capital markets” Bentsi-Enchill added.

    The Group Chief Executive Officer, Dangote Cement PLC, Engineer Joseph Oyeyani Makoju, expressed the Company’s satisfaction with the choice of Stanbic IBTC as a preferred partner, considering the financial institution’s strong pedigree and expertise in investment banking. On the issuance, Makoju stated: “This landmark transaction, even more impressive than our first outing, remains still the largest-ever Commercial Paper issuance by a corporate issuer in Nigeria. In addition to helping us achieve our strategic objective of broadening our sources of funding, we have also made remarkable strides towards lowering our overall cost of borrowing.” Makoju added: “The success of this Programme reflects the high quality of our business and its strong cash generation capacity, made possible by our market leading positions in Nigeria and across Sub-Saharan Africa, where demand for cement is growing rapidly.”

    The establishment of the Dangote Cement PLC Commercial Paper Programme is another testament to Stanbic IBTC Capital’s industry leadership in investment banking, issuing house and financial advisory services. Stanbic IBTC has played a pivotal role in the resurgence of commercial paper in Nigeria following the release of guidelines on the issuance of the corporate debt financing solution by the Central Bank of Nigeria. Dangote Cement was advised by Stanbic IBTC Capital Limited as Sole Arranger for the CP Programme, and Joint Dealer in respect of the Series 3 and 4 Notes, whereas Stanbic IBTC Bank PLC acts as the Issuing Calculation and Paying Agent for all Notes issued under the Programme.

     

     

  • Dangote Cement gives multi-million naira Scholarship to 115 in host communities

    In a major boost to its Corporate Social Responsibility profile, Dangote Cement Plc, Ibese Plant has announced a multi-million Naira educational scholarship award for 115 students from its 15 host communities for the 2017/2018 academic session.

    The Company said the scholarship has become an annual event meant to contribute to the educational development of the people and the area and position them in right place in the scheme of things in Ogun state and Nigeria in general.

    Acting Plant Director of Dangote Cement, Ibese, Mr. Louis Raj, while speaking during the presentation of cheques to the beneficiaries at Ibese Plant explained that the management decided to increase the number of beneficiaries to 115 from the previous 80 so that more children of the area could benefit.

    He also said the decision was meant to encourage the young ones to go to school as a sure way of building them mentally and morally so that they be good to themselves and the society.

    According to him, the scholarship award is just one of the many Social Services the Company has committed itself to and continue to provide other social services as a way of giving back to the society within which it operates.

    Mr. Raj stated that the scholarship award and other CSR projects were being undertaken as a way of saying thank to the people for maintenance and sustenance of peace in the area pointing out that it was the prevailing atmosphere of peace that make the company to operate smoothly.

    He expressed the management gratitude to the royal fathers and other community leaders whose efforts have accounted for the peace and tranquility, noting that the company would wish the spirit of peaceful coexistence continues.

    The General Manager, Government and Community Relations, Joseph Alabi while giving the breakdown of the scholarship said the award covered 115 students of Yewa origin studying various course across several higher institutions of learning in the country.

    Some of the schools where the beneficiaries are studying include Polytechnics, Universities, College of Educations, College of Technologies, and secondary schools scattered across Ogun state.

    Alabi also announced a list of candidates from the host communities who have been selected to attend Dangote Academy for training in various arts and vocations pointing out that the training will equip them with wherewithal to work and do their own business whenever they chose to.

    “In Dangote Group, Corporate Social Responsibility (CSR) to our communities is our watchword and focus. Giving scholarships, construction of roads and drainages, provision of transformers and other projects to connect communities to national grid, among others are what will do every year. We award scholarships to communities in order to give the communities part of wealth being created.

    “I think everything is not about money but the main benefit is to provide them the opportunity to have better education and in the future, if they are good students, well-qualified, we will also offer them opportunities to work here at Ibese Cement Plant. This is part of CSR to ensure good relations, good partnership with our communities,” he added.

    Dangote Cement gives multi-million naira Scholarship to 115 in host communities

    In his remark, the Olu of Imasayi, Oba Gbadebo Oni said the host communities are happy with Dangote Cement with its handling of community issues, saying Alhaji Aliko Dangote deserves all the cooperation his people could muster for citing the cement plant in their land and then taking care of the people and the communities.

    He promised that his people would continue to give peace a chance always because to whom much is given, much is expected. The Monarch said the education scholarship is the best thing that has happened to the host communities because the issue of quality education cannot be quantified in monetary terms.

    The scholarship according to him, has offered a big relief to parents who have to struggle so much to ensure their children school fees are paid, saying they will forever be grateful to the management of Dangote cement.

    It would be recalled that the company had some years ago instituted scholarships for the indigenes of any of the host communities in any higher institution and secondary schools with the management saying it was poised to making life more meaningful to all members of the host communities with a promise to ensure that all projects meet the specific need of each community.

    Also, the Dangote Cement Plc, Gboko factory in Benue State had also given out N20 million worth of scholarships to indigent students from the firm’s host community, Mbayion, as part of its CSR in the last one year.

    The Group also emerged Nigeria’s best Corporate Social Responsibility (CSR) Company according to a survey by Governance Advancement Initiative for Nigeria (GAIN), an NGO.

    Dangote was the adjudged overall winner among 25 Nigerian and multinational companies operating in the country in 2016, scoring 6.3 per cent, followed by Nestle with 5.51 per cent and Etisalat with 5.45 per cent.

  • Foreign investors buy 410m shares of Dangote cement

    Foreign investors buy 410m shares of Dangote cement

    Dangote Industries on Tuesday on the Nigerian Stock Exchange (NSE) sold 410 million shares of Dangote Cement valued at N86.1 billion to some foreign investors at N210 per share.

    The News Agency of Nigeria (NAN) reports that the transaction was crossed at off-market price of N210 in six deals.

    Mallam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd. , told NAN that the details of the foreign investors were yet to be revealed.

    Kurfi said that the transaction was perfected at N210 against the normal market price of N222.22 per share.

    He stated that some foreign investors were taking position in the company due to its capacity building and high investment yield.

    Kurfi recalled that the company, in 2013, sold 1.5 percent of its 95 per cent stake in Africa’s biggest cement producer to South Africa’s Public Investment Corporation (PIC) for 289.3 million dollars.

    Consequently, Dangote Cement emerged the most traded with a turnover of 417.76 million shares valued at N87. 76 billion.

    It was followed by FBN Holdings with 61.01 million shares worth N367.53 million, while Access Bank exchanged 39.86 million shares valued at N399.59 million.

    NAN reports that United Bank for Africa (UBA) sold 38.43 million shares valued at N371.84 million.

    However, the volume of shares traded improved by 73.33 per cent as investors staked N94.05 billion on 849.60 million shares transacted in 5,602 deals.

    This was against the 490.16 million shares valued at N5.27 billion achieved in 5,558 deals.

    Also, the All-Share Index closed upbeat, increasing by 876.62 points or 2.45 per cent to close at 36,720.62 against 35,844.00 on Monday.

    The market capitalisation, which opened at N12.353 trillion, inched N302 billion or 2.44 per cent to close at N12.655 trillion.

    Nestle recorded the highest gain to lead the gainers’ table with a gain of N21.30 to close at N102.50 per share.

    Dangote Cement followed with a gain of N16.25 to close at N240 and Guinness appreciated by N1.50 to close at N66.55 per share.

    PZ Industries increased by N1.15 to close at N24.15, while Stanbic IBTC rose by N1.09 to close at N36.99 per share.

    On the other hand, Forte Oil topped the losers’ chart, shedding N4.70 to close at N57 per share.

    Okomu Oil trailed with a loss of N4 to close at N76.03 and Lafarge Africa was down by N2.72 to close at N55 per share.

    Julius Berger dropped by N1.80 to close at N34.20, while 7UP declined by N1.59 to close at N90.30 per share.

     

    NAN