Tag Archives: cement
cement: Latest News
Dana Sanchez, 5:34 pm
With its island-building binge, Dubai is a big customer for African sand. So are Africa’s expanding concrete manufacturing giants. For the island project “The Palm Jumeirah,” Dubai used 200 million cubic meters of sand and stone. Some of the sand came from the sea off Dubai’s coast but a large amount came from African beaches. In Cape Verde, one in three people is unemployed. Sand mining is a fast way to earn money. The consequences of excessive sand mining are devastating. On beaches where tortoises once buried their eggs, there is now only dirt and stones.
Staff, 12:02 am
You’d be hard pressed to find a country in the world that has cheaper labor than Ethiopia. However, manufacturing as a share of GDP in Ethiopia is 5 percent, well below the African average of 10 percent. The country also scores below the African average on diversification, export competitiveness, productivity and tech upgrading. Despite this, it’s not a long shot to predict that Ethiopia will soon catch up with countries like China and Vietnam in some low-tech manufacturing industries. These are industries for which labor costs are very important. Beyond these obvious industries, there are reasons to believe Ethiopia might be on the right track to catch up with more advanced economies.
Dana Sanchez, 7:22 pm
While some Nigerian firms have put expansion plans on hold, others see opportunities as Africa’s biggest economy struggles with an oil price slump. BUA’s main rival, Dangote Cement, has also been expanding, signing a $4.34 billion deal in 2015 with China to almost double its capacity across Africa. “With the (fall) in the price of commodities … we can (expand) much cheaper than what it would have cost some years ago,” said BUA Chairman AbdulSamad Isyaku Rabiu.
Dana Sanchez, 11:49 am
Aliko Dangote is consolidating his cement businesses across Africa into one company that can compete globally on London and Johannesburg stock exchanges. “Our intention is to consolidate our cement assets,” he said while announcing a $600-million cement plant in Tanzania. Dangote isn’t the largest cement producer in Africa but he plans to be. His net worth dropped in 2014 as a result of a weaker Nigerian currency.
Staff, 9:23 am
Africa’s richest man Mr Aliko Dangote has always wanted to visit Zimbabwe to scout investment opportunities and to meet President Mugabe, whom he reveres as a true pan-Africanist, it has been learnt. The Nigerian billionaire accomplished both missions on August 31, 2015 when he was the President’s guest at State House where he laid the groundwork for major investments in coal mining, energy and cement manufacturing.
Staff, 12:19 am
Aliko Dangote will be exempt from Zimbabwe’s indigenisation laws requiring foreign investors to give 51% of earnings to locals. Dangote announced this week he plans to invest in cement, power and coal projects in Zimbabwe. The cement plant alone will be a $400 million investment.
Dana Sanchez, 3:21 pm
Africa’s richest man, Nigeria’s Aliko Dangote is investing in Zimbabwe coal, power and cement. Zimbabwe has lagged behind neighbors Mozambique and Zambia in attracting foreign investment but the government said in July it had approved $971M in foreign investment in the first half of 2015 versus $555M a year ago. Dangote Cement faces intense competition in the African cement sector.
Dana Sanchez, 3:42 pm
Africa’s richest billionaire, Aliko Dangote has signed a $4.3-billion deal with a Chinese government-owned engineering company to build eight new cement plants for his Nigeria-based company. The new factories are expected to be completed within 2.5 years and add around 25 million tonnes to the firm’s existing cement capacity of 45 million tonnes. There’s more to come. Dangote wants to be up to 100 million tonnes of cement a year by 2020.
Kevin Mwanza, 8:23 am
In the wake of a stocks slump in China on Monday Africa’s richest man, Aliko Dangote, lost as much as $710 million off his fortune in just one day. But that does not concern Dangote, 58, whose net fortune is estimated to be worth $15.4 billion according to Bloomberg’s Billionaires Index. What concerns Dangote more is how his series of cement factories, that he has worked so hard to expand across Africa this year, are doing.
Dana Sanchez, 2:59 pm
A new cement plant in Rwanda will help transform the country from cement importer to exporter. Rwanda’s CIMERWA cement company spent $170 million on the new plant. It can produce 600,000 tons of cement per year — a sixfold increase. CIMERWA is 51-percent owned by South Africa-based Pretoria Portland Cement (PPC).
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