Business & Finance

Prospects Of Better Returns Excite Dangote Cement Shareholders

Aliko Dangote, Africa’s richest man

As returns from African projects lifted the earnings and profits of the Company, shareholders of the Dangote Cement plc have endorsed the pan African expansion of the company and urged the management to make a foray into other countries in a bid to make the Company the foremost cement manufacturer in the world.

The shareholders made the endorsement at the annual general meeting held yesterday in Lagos.

The chairman of the Company, Aliko Dangote at the meeting, assured the shareholders that the Company would continue to deploy strategies that would increase profitability in spite of the prevailing harsh operating climate.

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He explained that with the measures put in place, the foreign exchange volatility would not affect the operations of the company significantly more so when its other African plants are operating maximally and yielding positive results to cushion the effect of the scarce foreign exchange at home.

“We have good strategy in place, the volatility of the foreign exchange will not affect our operations. I am not an advocate of devaluation of our currency, even if that had happened, it would not have affected your company.


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