Dangote Dumps Plans to Acquire SA Cement Firm, PPC

By Modupe Gbadeyanka

Plans by Dangote Cement Plc to acquire South African cement firm called PPC Limited has now been jettisoned.

The Nigerian company, in a notice to the Nigerian Stock Exchange (NSE) on Friday, said its board of directors is already aware of this decision.

“On September 13, 2017, Dangote Cement Plc notified the Nigerian Stock Exchange (NSE) of its interest in acquiring the entire share capital of PPC Limited of South Africa.

“With reference to the above notification, be informed that on October 5, 2017, the board of directors of Dangote Cement formally notified the board of directors of PPC that it no longer had an interest in acquiring the entire share capital of PPC Limited,” the statement said.

Dangote Cement Plc is Africa’s leading cement producer with nearly 46 million tonnes per annum (Mta) capacity across Africa.

A fully integrated Plc quarry-to-customer producer, the firm has a production capacity of 29.Z5Mta to the Nigerian market.

Its Obajana Plant in Kogi State, Nigeria is the largest in Africa with 13.25Mta capacity across four lines; its lbese Plant in Ogun State has four cement lines with a combined installed capacity of 1.2Mta; and the Gboko Plant in Benue State has 4Mta.

Through its recent investments, Dangote Cement has eliminated Nigeria’s independence on imported cement and has transformed the nation into a net exporter of cement, serving neighbouring countries.

In addition, the firm has invested almost $3 billion to build manufacturing plants and import/grinding terminals across Africa.

Its operations are in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta); Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta) Sierra Leone (0.7Mta. import) South Africa (2.7Mta), Tanzania (3.0Mta), Zambia (1.5Mta).