Whitehopleman’s Africa Desk is struggling to keep up with the news about our long-standing customer Dangote Cement. On 22nd March CemNet Newsroom reported that Dangote Cement Plc has announced that it received approval from the Securities and Exchange Commission (SEC) and other regulators to raise NGN300bn (US$833m) in local-currency bonds. The company plans to use the fund to finance its expansion and refinance its debt. Dangote is expected to spend US$350m on capital projects this year, which includes building export facilities at Nigeria’s seaports. More cement that will be looking for a home in West Africa!
By - Whitehopleman