Nigerian cement manufacturer Dangote Cement has invested 1.08 trillion nairas ( $3 billion) to build manufacturing plants and import or grinding terminals across Africa.
In 2017, the company had its revenue increased by 16.9 percent and its earning per share also increased by 3 percent to 6.60 naira kobo per share for the second quarter, ended on June 30, 2018.
Dangote Cement’s first-half performance was driven by an excellent recovery in Nigeria, where its sales volumes increased by nearly 14 percent and revenues rose by more than 18 percent.
The company also achieved the issuance of commercial paper by a Nigerian company when it issued 50 billion Series 1 & 2 Notes at the end of June, with a discount rate that reflected the strength of the company and its credit ratings.