logoBC
Yaoundé - 02 April 2020 -
Companies

Cameroon: Dangote cement reports 6% YoY fall on sales during the first nine months of 2019

Cameroon: Dangote cement reports 6% YoY fall on sales during the first nine months of 2019
  • Comments   -   Monday, 04 November 2019 19:59

(Business in Cameroon) - During the first nine months of 2019, the Cameroonian subsidiary of Nigerian cement giant Dangote recorded a decline in its performance.

"Our 1.5Mta clinker grinding facility in Douala sold approximately 866t of cement in 9M 2019, a 6.0% fall on the 920Kt sold in 9M 2018. We estimate our market share to have been 40% during the period," Dangote Cement PLC indicated in its Q3, 2019, result statement.  

This drop in performance, the Nigerian explains, is mainly due to persistent security problems in the North-West and South-West regions. Indeed, since October 2016, economic activity has slowed down in the North-West and South-West due to combats between secessionists and defence forces. Several companies (CDC, SABC, MTN, Orange, etc.) are at a standstill in this part of the country or have relocated their headquarters or agencies.

In the first half of this year, Dangote was already complaining about the decline in its activity due to the socio-political crisis in the English-speaking regions of Cameroon. During that period, the cement company reportedly sold approximately 0.6 million tonnes of cement, a decrease of 7.1% from 0.64 million tonnes sold in the first half of 2018.

S.A.

cameroon-launches-campaign-for-its-xaf220-bln-fundraising-operation
Today April 1st, Cameroon launched a campaign for its XAF220 billion fundraising operation via bond issuance. On various media, the Ministry of Finance,...
external-debt-cancellation-cameroon-could-be-relieved-of-xaf6-650-bln-of-debt
At the end of the 3rd extraordinary meeting of the steering committee of the CEMAC Economic and Financial Reforms Programme (Pref-Cemac), CEMAC Ministers...
cameroon-targets-98-financial-inclusion-with-the-national-payment-switch
Substantially increase financial inclusion from the current 40% to 98%, which is the mobile penetration rate in Cameroon. This is one of the objectives of...
covid-19-cemac-countries-invited-to-postpone-implementation-of-any-new-corporate-taxation-measure-to-2021
The Ministers of Finance and Economy of the CEMAC region discussed the "economic and financial impacts of Covid-19 on CEMAC's economies and outline of...

Mags frontpage


Business in Cameroon n85: March 2020

Minim Martap«It might be the best bauxite ever at the moment»


The necessary reform of Cameroonian public firms


Investir au Cameroun n95 Mars 2020

Minim Martap« Peut-être la meilleure bauxite au monde à ce jour »


La nécessaire réforme des entreprises publiques camerounaises