• Tuesday, May 21, 2024
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Dangote Cement eyes N100bn from series 13, 14 Commercial Paper issuance

Dangote Cement’s three-month revenue doubles to N817bn

Dangote Cement Plc is currently issuing its series 13 and 14 Commercial Paper (CP) of up to N100 billion under its N300 billion Commercial Paper issuance programme. The CPs issuance is scheduled to close on Tuesday April 16, 2024.

Dangote Cement is Sub-Saharan Africa’s leading cement producer, with a combined capacity of 52Mta (35.3Mta in Nigeria) across its operations in 10 African countries.

Read also: Dangote Cement to pay N30 final dividend

It operates a fully integrated “quarry-to-customer” business with activities covering manufacturing, sales and distribution of cement.

Through its investments, the Company eliminated Nigeria’s dependence on imported cement and transformed the nation into an exporter of cement, serving neighbouring countries.

Dangote Cement Plc established a N150billion commercial paper issuance programme on August 12, 2021 and subsequently increased the CP Programme from N150billion to N300billion, on July 13, 2023, under which Dangote Cement may from time to time issue commercial paper notes (CPs).