Yaoundé - 19 January 2020 -

Dangote Cement Plc now holds 99.97% of Dangote Cement Cameroon

Dangote Cement Plc now holds 99.97% of Dangote Cement Cameroon
  • Comments   -   Tuesday, 17 April 2018 12:36

(Business in Cameroon) - Dangote Cement Plc, the industrial group founded by Aliko Dangote, now owns 99.97% (80% in the past)of Dangote Cement Cameroon. This was revealed in the group’s 2017 annual report.

 “During the year, Dangote Cement Senegal S.A, Dangote Cement Cameroon S.A, Dangote Industries Limited, Tanzania and Dangote Industries (Ethiopia) Plc issued additional shares, all of which were issued to Dangote Cement Plc., resulting in the dilution of non controlling interest to 0.01%, 0.03%, 0.3% and 0.03% respectively”, the group wrote.

This reinforcement of Dangote Cement Plc’s control in the Cameroonian subsidiary (in which minor shareholders, probably locals whose identity is hard to reveal, still held 20% of the equity in 2016) was done via an increase of the group’s equity investment in Dangote Cement Cameroon.  Indeed, in 2016, these investments were NGN9 million (a little more than CFA18 million taking CFA1 for NGN0.4929, the report reveals). However, in 2017, they stood at NGN15.160 billion (a little more than CFA25 billion taking CFA1 for NGN0.6060).

Brice R. Mbodiam 

Currently (January 2020), the active portfolio of the Kuwait Fund in Cameroon includes three projects for an amount of US$35.5 million, or about XAF20...
Since December 31, 2019, the farm-gate price per kilogram of cocoa beans in Cameroon's production basins has declined slightly from a high of XAF1,250 to...
Reading through the circular that sets the framework for the implementation of the 2020 Finance bill, it appears that Cameroonian administrations must...
During the 2019 holiday season, the ponds created in Cameroon with the support of the Agropoles project helped provide 50 tons of fish to the...

Mags frontpage

Business in Cameroon n82-83: December 2019-January 2020

CFA: The debate is open in the CEMAC

Cameroon becomes CEMAC’s financial center

Investir au Cameroun n92-93: Decembre 2019-Janvier 2020

Franc CFA : le débat est ouvert en zone CEMAC

Le Cameroun devient la place financière de la CEMAC