Dangote Cement

The Nigerian equities market closed Thursday trading on upward trend, appreciating by 0.10 per cent, amid Dangote Cement gain.

Activities opened for the month of April on Wednesday still on a bearish trend, with a loss of 0.94 per cent.

The company, in a notice to the Nigerian Stock Exchange (NSE), on Monday, announced its inaugural issuance of bonds under its N300 billion shelf registration programme.

Dangote Cement Plc yesterday donated N100 million worth of cement to the Lagos State government, to support the ongoing reconstruction process at the Abule-Ado area of Amuwo-Odofin Local Government of the state, which was affected by a pipeline explosion last weekend.

Two giant corporate organisations, Dangote Cement Plc. and Zenith Bank Plc. on Wednesday visited the Governor of Lagos State, Babajide Sanwo-Olu, to commiserate with him and the state on the recent explosions that rocked Abule Ado-Soba area of the State.

Dangote Cement said on Wednesday it planned to start exports from its Congo Republic plants to neighbouring states, while its Nigerian exports fell 41% in 2019 when Nigeria’s government closed its borders.

Dangote Cement Plc will soon boost its export sales as it prepares to inaugurate its Apapa, Lagos, export terminal. This will be followed by Onne, Rivers State, export terminal. The company disclosed this while commenting on its future plans following the release of its 2019 financial results.

For the ninth year in a row, Aliko Dangote of Nigeria has been declared as the wealthiest person in Africa, with an estimated net worth of $10.1 billion.

Desire of the Management of Dangote Cement to ‘buy back’ 10 per cent of its entire issued shares from shareholders was unanimously granted on Wednesday as the company’s shareholders’ voted in support of the ‘share buy back’ plans. Dangote Cement, which currently has 17.04 billion fully paid up ordinary shares of 50 kobo each, would be buying back 1.70 billion shares.

The Nigerian Stock Exchange posted the first loss in 2020, dropping by 1.18 percent after 11 days of a consecutive uptrend.

The equities market today (Tuesday) recorded the first profit taking after a long streak gain this month leading to a decline in a major performance index as the Nigerian Stock Exchange, NSE All Share Index declined by 1.2 percent or 118 bases points, bps.

Transactions on the Nigerian Stock Exchange (NSE) moderated on Friday with the market indicators improving marginally by 0.07 per cent.

Top billionaires across the world diversify their investments to countries with strong and rising currencies to avoid asset erosion.

Africa’s wealthiest man, Alhaji Aliko Dangote ended 2019 with a total worth of $14.8 billion, representing an increase of $4.3 billion from the $10.3 billion recorded in 2018, according to Bloomberg’s Billionaires Index released recently.

African richest man Aliko Dangote has significantly moved up in the World billionaires’ list as he emerged 96th richest person in the world, with an estimated worth of $14.8 billion, as against his previous ranking of 103rd in the world.

The Nigerian Stock Exchange opened the last trading week for 2019 on Monday with a growth of 0.73 per cent following investors’ interest in heavyweight stocks.

Dangote Cement Plc is seeking shareholders’ approval to embark on share buy-back in move aimed at improving return on equity and shareholder value.

The Nigerian equities market ended Tuesday session in red with the All-Share Index dropping by 0.13 per cent.