Dangote Cement Exports 14 Clinker Shipments to Ghana, Cameroon

By Dipo Olowookere

A total of 14 shipments of clinker have been exported from Nigeria to Ghana and Cameroon by Dangote Cement Plc as part of its efforts to boost foreign exchange (FX) inflows for the country, the chief executive of the company, Mr Arvind Pathak, has confirmed.

“By leveraging our robust export-to-import strategy, Dangote Cement completed 14 shipments of clinker from Nigeria to Ghana and Cameroon. This effort resulted in a 55.2 per cent surge in our Nigerian exports, underscoring our commitment to fostering African self-sufficiency,” Mr Pathak said in a statement made available to Business Post.

The cement maker said the demand for its products because of their high quality has resulted in a significant increase in its pan-African operations.

This was reflected in the financial performance of the organisation in the first half of 2024, as its operations outside its home market, Nigeria, went up by 139.9 per cent to N807.1 billion from the N336.4 billion recorded in the corresponding period of 2023.

The Nigerian operations also witnessed an improvement in the period under consideration despite the macroeconomic headwinds, with the firm demonstrating strong resilience due to the strategies implemented by the management.

It was observed that revenue and EBITDA jumped by 85.1 per cent and 50.3 per cent to N1.760 trillion and N666.2 billion, respectively.

In addition, the post-tax profit grew by 6.3 per cent to N189.9 billion amid the promotion of a cleaner environment, with the commissioning of 11 of the 17 Alternative Fuel Projects across the organisation and the delivery of 300 full CNG trucks for its Nigerian business.

“We effectively navigated macroeconomic headwinds to deliver positive results in the first half of the year. Group volumes were up 3.8 per cent, with our Nigeria operations achieving double-digit volume growth of 10.9 per cent.

“This growth was driven by improved efficiency across our operations and supported by increased market activity levels compared to the election year and cash crunch in 2023.

Despite the challenges of elevated inflation, high borrowing costs, and a further weakening of the currency in the first six months of the year, our business demonstrated strong resilience. This was due to our rigorous focus on cost minimisation and our diversified business model,” Mr Pathak stated.

He assured that, “Looking ahead, we remain bullish about the growth prospect of the African region, evident in our increased capital investments.

“We continue to prioritise innovation, cleaner energy transition, and cost leadership towards achieving our vision of transforming Africa and building a sustainable future.”