Dangote Cement sells 10% of Senegal unit to government
Dangote Cement has sold 10% of its Senegal subsidiary to the government in Dakar as revenues at the plant fell 21% in 2025.
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Dangote Cement has sold 10% of its Senegal subsidiary to the government in Dakar as revenues at the plant fell 21% in 2025.
Dangote Cement has become the first company to list commercial papers on the Nigerian Exchange, marking a major milestone for Nigeria’s capital market and expanding funding opportunities for large corporates.
Investor demand for Dangote Cement and other major stocks pushed Nigeria’s stock market value past N111 trillion, extending February’s rally on strong earnings sentiment.
Dangote's move is seen as part of a broader leadership transition.
Despite challenges, Dangote Cement's revenue grew 21.7%, reaching N994.7 billion ($618.3 million), up from N817.35 billion ($508.4 million).
The plunge in Dangote's wealth is largely attributed to a major sell-off in Dangote Cement shares on the Nigerian Exchange (NGX).
The move aims to bolster the company’s financial strength and improve operational efficiency.
Dangote Cement supports regional construction, exports 22 shipments of clinker to Ghana and Cameroon in first nine months of 2024.
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
The dividend, which will be paid electronically into his bank account by Mon., April 29, 2024, is a testament to Dangote Cement’s impressive fiscal results.
Dangote Cement records impressive 19-percent surge in profit, delivers strong financial performance amid challenging economic environment.
Overcoming naira woes and macroeconomic uncertainties, Dangote’s net worth climbs to $22 billion — a $6.9 billion surge in 2024.
The surge in Dangote Cement shares coincides with Nigerian billionaire Femi Otedola’s strategic investment in the leading cement company.