Dangote Cement’s half-year results for 2024 have shown impressive growth, with revenue from Pan-African operations increasing by 139.9% to N807.1 billion.
The company’s Nigerian market also saw a 10.9% increase in sales, rising from 8.0Mt to 9.0Mt. Group volumes rose by 3.8% to 13.9Mt, with group revenue up by 85% to N1,760 billion.
The company’s focus on cost minimization and diversified business model has helped it navigate macroeconomic challenges, including elevated inflation, high borrowing costs, and currency weakening.
Dangote Cement’s commitment to innovation, cleaner energy transition, and cost leadership is evident in its efforts to promote a cleaner environment, including the commissioning of 11 Alternative Fuel Projects and the introduction of 300 full CNG trucks for its Nigerian business.
Chief Executive Officer Arvind Pathak expressed satisfaction with the company’s performance, citing positive trends in key financial indicators.
He highlighted the company’s robust export-to-import strategy, which has led to a 55.2% surge in Nigerian exports, underscoring Dangote Cement’s commitment to fostering African self-sufficiency.
Looking ahead, Pathak remains bullish about the growth prospects of the African region, evident in the company’s increased capital investments.
Dangote Cement continues to prioritize innovation, cleaner energy transition, and cost leadership towards achieving its vision of transforming Africa and building a sustainable future.
Comment here