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Inspiring Africa's Sustainable Business Growth
WEST AFRICA – IFC, Proparco, the French Development Institution and Emerging Africa Infrastructure Fund (EAIF) are partnering with Ciments de l’Afrique (CIMAF), a subsidiary of Omnium des Industries et de la Promotion (OIP). The partnership is meant to help the company boost its production of cement in West Africa to meet growing demand for housing and infrastructure in the region.…
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NIGERIA – BUA Cement Plc, a leading cement manufacturer in Africa, has declared in its audited financial statement, a 19.4% year-on-year growth in profit to N72.34 billion (US$176.51m) for the financial year of 2020, compared to last year’s figure of N60.34 billion (US$147.23m). The double-digit growth in profit was a testament to the cement maker’s focus on efficiency, excellent cost…
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EGYPT – Lafarge Egypt, a construction materials company and a member of LafargeHolcim Group, has inked a Memorandum of Understanding (MoU) with The National Research Centre (NRC) to promote the future of the Cement Industry in Egypt. Both entities have allied to build upon NRC’s witnessed research capabilities & Lafarge Egypt’s seasoned expertise in the construction sector which will leveraging…
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NIGERIA – The value of Nigeria’s manufacturing output rose by US$11.89bn (N4.33tn) to reach US$46.07bn (N16.78tn) in 2019, a report by the National Bureau of Statistics (NBS) has shown. An analysis of the Gross Domestic Product report from the NBS showed that the 2019 output represented an increase of 34.78 per cent when compared to the 2018 output of US$34.18bn…
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LIBERIA – Cemenco, a subsidiary of German based Heidelberg Cement, has commissioned a new 0.5Mt/yr, US$14m cement mill at its cement grinding plant in Monrovia, Liberia. Liberia’s head of state, H.E President George Weah who was at the launch of the new cement plant by CEMENCO said that the project was a clear demonstration of the confidence investors have in…
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KENYA – The Competition Authority of Kenya (CAK) has approved the acquisition of Cemtech Limited a Kenyan cement business by Simba Cement Limited in a move that is set revamp the factories operations after several failed attempts to start operations. The regulator gave Simba Cement, a subsidiary of the Devki Group of Companies, the go-ahead to buy 100 percent of…
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RWANDA – The Rwandan government has unveiled plans to sell its 49% stake in Cimerwa cement company. Rwanda’s Prime Minister, Edouard Ngirente, made the announcement saying that the sale will be done through an auction by the end of March although he did not disclose the reason for the sale nor the value of the transaction. Cimerwa is jointly owned…
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