Nigeria's Aliko Dangote is now the World's Richest Black Person: October 2011

Aliko Dangote and Standard Bank mark their leadership atAABLA

Published: 24 October 2011

Captains of Industry from across Africa gathered in one room on Thursday, 20 October to attend the inaugural All Africa Business Leader Awards (AABLA) ceremony where Aliko Dangote and Standard Bank were winners in two separate categories each.

Aliko Dangote and Standard Bank mark their leadership at <i>AABLA</i>

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Earlier this year ABN Productions announced the launch of AABLAin an attempt to identify and honour those leaders who are making a difference through innovation and inspiration in their industry sectors. The event proved to be a huge success with guests leaving inspired and motivated to achieve more.

Amongst the honoured guests in attendance at the ceremony was MEC for Economic Development Qedani Dorothy Mahlangu, Director General Sibusiso Xaba of the Department of Arts and Culture, retail pioneer, Raymond Ackerman and representatives from the office of Aliko Dangote.

The winners in all the categories are as follows:
Young Africa Business Leader of the Year
• James Mworia, CEO, Centum Investment

Africa Businesswoman of the Year
• Maria Ramos, Group CEO, Absa Group, South Africa

CNBC Africa Business Success in Africa Award
• Sim Tshabalala, Deputy CEO, Standard Bank Group

Africa Business Leader of the Year
• Aliko Dangote, Founder, Dangote Group, Nigeria

Africa Entrepreneur of the Year
• Aliko Dangote, Founder, Dangote Group, Nigeria

Leadership in Arts Award
• Sim Tshabalala, Deputy CEO, Standard Bank Group

Lifetime Achievement Award
• Raymond Ackerman, Founder, Pick ‘n Pay

Founder of AABLA and vice chairman for ABN Group, Rakesh Wahi’s vision for the awards is for it to continue to serve as a platform to discover the business leaders who are creating a culture of entrepreneurship, developing best practices and carving out powerful and sustainable models of business in the global economy. He says “AABLA is set to be an annual event, with plans to expand into regional awards across the continent.”

AABLA 2011 was sponsored by IDC, ABSA, Telkom, Sanlam and the Department of Arts & Culture, Department of Economic Development, TATA and Pernord Ricod. CNBC Africa covered the event with live crossings on the Business Tonight show.

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Dangote Assures Shareholders of Higher Returns

Alhaji-Aliko-Dangote-2308.jpg - Alhaji-Aliko-Dangote-2308.jpg

President, Dangote Group, Aliko Dangote

By Goddy Egene

The Chairman of Dangote Flour Mills Plc, Alhaji Aliko Dangote, has assured shareholders of the company and sister firms listed on the Nigerian Stock Exchange (NSE) of improved returns on their investments in the years ahead.

Dangote gave the assurance at the Annual General Meeting (AGM) of Dangote Flour Mills held in Kano last Thursday, saying the N76.24 billion dividend the four companies paid for the year ended December 31, 2010, would be improved upon.

The four companies are: Dangote Cement Plc, Dangote Sugar Refinery Plc, Dangote Flour Mills Plc and National Salt Company of Nigeria (NASCON).

Before last week, three of the companies had paid a dividend of N74.34 for the 2010 financial year. However, shareholders of Flour Mills approved the N1.9 billion proposed by the directors at the AGM last Thursday, thus bringing the total dividend to N76.24 billion, compared to N60.21billion paid in 2009.

Market analysts said the total dividend paid out by the Dangote companies was very significant considering the fact that many quoted companies could hardly made profit owing to the harsh economic and operating environment.

Going by the annual reports and accounts of the listed companies, Dangote Cement paid N65.84 billion, Dangote Sugar paid N7.2 billion, while NASCON paid out N 1.3 billion dividend.
Excited shareholders showered praises on the management of the companies under the group for rewarding them bountifully despite the economic down turn in the capital market.
Chairman of Shareholders’ Trustees Association of Nigeria Alhaji Mukhtar Mukhtar described the dividend pay-out as remarkable considering the fact some companies were unable to do so as result of unfavourable investment climate in Nigeria.

“We are encouraged by Alhaji Aliko Dangote. In addition to the dividend, his companies have been creating jobs and feeding Nigerian families. All Nigerians should emulate him,” Mukhtar said.

Addressing shareholders of Dangote Flour Mills, Dangote, said going forward, the company would perform better as its expansion project to enlarge its manufacturing and packaging facilities, which started some years back, was almost completed.

“Our dedicated plant for production of our wheat meal brand Alkama and Danvita would soon be ready for commissioning any moment from now.

This would no doubt, tremendously boost our top line growth in year 2011 as plans are already in place to massively launch the products and increase the distribution networks to all the hinterlands,” he said.

He added that the plan to commence direct and indirect export into Chad, Cameroon, Senegal and Liberia was already yielding fruits, disclosing that “We intended to intensify efforts to deepen and strengthen the business relationship already established along the West Africa Coast.”

Dangote Group pays N76.24bn dividend

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Written by Friday Ekeoba, LagosMonday, 03 October 2011

Despite the harsh economic realities, Dangote Group of Companies , last week, increased investors’ wealth in the capital market as Dangote Flour Mills paid a dividend of N1.9 billion for the year ended December 31, 2010.

This increased the total dividend paid by the four companies within the group to N76.24 billion, compared to N60.21 billion paid as dividends in 2009.

The total dividend paid out by the Dangote companies became more significant against the background that many quoted companies could hardly make profit owing to the harsh economic and operating environment.

Listed members in the Dangote Group, which have since declared profit in their 2010 business year, are Dangote Flour Mills Plc; Dangote Sugar Refinery Plc; Dangote Cement Plc and National Salt Company of Nigeria Plc (NASCON).

According to a statement from the group, “going by the annual reports and accounts of the listed companies, Dangote Cement paid N 65.84 billion; Dangote Sugar paid N7.2 billion, while NASCON paid N1.3 billion dividend.”

Chairman of Shareholders’ Trustees Association of Nigeria, Alhaji Mukhtar Mukhtar, described the dividend payout as remarkable given that most companies were unable to do so as a result of unfavourable investment climate in Nigeria.

He said: “We are encouraged by Alhaji Aliko Dangote. In addition to this, his companies have been creating jobs and feeding Nigerian families. All Nigerians should emulate him.”

Another shareholder said that “we are very pleased with the performance of member companies of the Dangote. The performance of these companies is a delight to shareholders, proving that with good management, any company can excel.”

Dangote to Build Cement Factory in Ethiopia

Friday, 07 October 2011 14:24 Yelibenwork AyeleEthiopian Business News - Cement

Dangote Group, a Nigerian company, signed an agreement to build a 400 million dollar cement factory in Ethiopia. The plant, which is expected to produce 2 million tonnes of cement a year, will be built in the Oromia Region State.

The agreement for the construction was made between Aliko Dangote, president of the Dangote Group, and representatives of the Oromia Regional State on Wednesday.

The Nigerian company hopes to complete the construction of the cement factory in two years.

The Dangote Group aims to produce 50 million tonnes of cement in Africa by 2015, as part of its ambition to be an internationally significant competitor in global cement production, Dangote’s CEO said.

The Dangote Group is one of the most diversified business conglomerates in Africa with a hard-earned reputation for excellent business practices and products' quality with its operational headquarters in the Lagos, Nigeria.

The Dangote Group has operations in Nigeria and several other countries in Africa, including Benin, Cameroon, Ghana, South Africa, Zambia and now Ethiopia.

Source: Nation, Reuters

Dangote Group in Cameroon

Written by Emmanuel Uffot

Saturday, 08 October 2011

As part of its expansion policy, Dangote Group signs a $115 million investment agreement to establish a cement plant in Douala, Cameroon Republic

Aliko Dangote’s effort to expand the tentacles of his business across the world took another positive dimension on Monday, September 19, when the Dangote Group signed a $115 million Investment Agreement with the Republic of Cameroon for the construction of a 1.5 million metric-tonne composite cement production plant in Douala, Cameroon.

At the signing of the investment deal, Philemon Yang, prime minister of Cameroon, praised Dangote for the investment initiative which, he noted, would go a long way to improve economic and political co-operation between Nigeria and Cameroon. He further lauded Dangote for his belief in the Cameroonian economy, stressing that his track record was an inspiration to other African investors.

“I extend my congratulations to Dangote Group and its president, Aliko Dangote, for this massive investment initiative which will change the landscape of Cameroon. We also salute the determination of Dangote who believed so much in this project and has stopped at nothing to make it happen,” he said.

Dangote, who was at the occasion, said the project would be financed 100 percent with funds raised outside Cameroon in order not to put pressure on the nation’s financial system. The Kano-born business mogul agreed with the opinion of the Cameroonian prime minister that the investment agreement between Dangote, Industries Limited and Cameroon was a step forward in the mutually beneficial business relationship.

According to Dangote, their projection is to import one million tonnes of clinker a year when the plant scheduled to be completed in 18 months’ time begins production. “From our projections, this $115 million project with an installed capacity of 1.5 million metric tonnes per annum will take between 14 and 18 months to complete. We project that we will import one million tonnes of clinker per year, we hope to use up to 30 percent of local raw materials in line with our business philosophy of adding value to the economy everywhere we operate,” he said.

The $115 million agreement which was signed by the president of Dangote Group and Cameroonian prime minister Yang, who was represented by Badei Ndanga, minister of mines, industry and technology, is said to be the first tranche of a $700 million long-term investment projection of Dangote in the real sector of the economy of the French-speaking Central African country.

The proposed plant, on completion, will bring to eight, the cement plants owned and operated by the conglomerate. Dangote Group which currently has the largest investment in cement in Nigeria, owns Obajana Cement Plant in Kogi State; Benue Cement Company, Gboko, Benue State, and two cement plants in Ibese, Ogun State and Odukpani in Cross River State.

The deal in Cameroon is one of the many investments in cement the Dangote Group has outside the shores of Nigeria. In April 2008, the industrialist acquired 45 percent stake in Sephaku Cement, a South African firm, for three billion Rand (N44.75 billion). The deal with the South African cement company came on the heels of an earlier deal in February 2008, when he signed an agreement worth $1.2 billion with China’s Sinoma International, to build cement plants in the Democratic Republic of the Congo, Equitorial Guinea, Ethiopia, Tanzania and Zambia. Dangote also has two cement plants in Ghana.

Dangote Group is a diversified and fully integrated conglomerate with an annual turnover in excess of N450 billion (US$ 3billion). The Group’s interests cut across many sectors in Nigeria and across Africa. Its core business focus is to provide local value added products and services that meet the basic needs of the populace. Its current business interests include cement, sugar, salt, pasta, beverages, real estate, port operations, poly products, haulage services and packaging, oil and gas, steel and telecommunications.

He was recently appointed a member of the 29- man National Economic Management Team set up by the Federal Government to fast-track the economic vision of the administration of President Goodluck Jonathan. His appointment as one of the few members from the organised private sector, has been lauded by many Nigerians given his huge investment in the economy and his reputation as the single highest employer of labour in Nigeria after government.

Dangote Signs $750m Agreement In Congo, Ethiopia

In continuation of its investment expansion drive, the Pan-African Conglomerate, the Dangote Group has signed fresh investment agreements worth $750 million with the government of two African countries for the production of cement.

During the week, the Dangote Group signed a $350million investment agreement with the Central African Republic of Congo and another $400 million of with Ethiopian government.

The deals were consummated at separate occasions in the capital of both countries where president and chief executive officer of the Dangote Group, Alhaji Aliko Dangote signed on behalf of his company, while three Congolese Ministers, Mr. Pierre Moussa in charge of ministries of Planning, Economy, Integration and Coordinator of the Economic Pole; Mr. Rodolphe Adada, minister for Industrial Development and Private Sector Promotions and Mr. Pierre Oba of the ministry of Mines and Geology endorsed the agreement on behalf of the government.

Only last week, a similar agreement was signed with the Camerounian government after which a ground breaking ceremony for the laying of the foundation for a $115 million cement factory was held.

Congolese minister of Industrial development, Adada, who spoke on behalf of the government, hailed Dangote’s deft move to invest in the country and pledged full support of the government for the project.

According to him, Dangote has become a symbol of the emancipation of the African continent with the significant investment in Congo and other African countries. He said, “The Dangote project is important to our people and our economy as it enables us achieve President Denis Sassou Nguesso’s vision for a robust and diversified economy. The project will help the country significantly reduce the import of cement and even enable us become a net exporter of cement while boosting economic growth, development, job creation and income generation.

“We are proud to have Dangote in Congo and it is a demonstration of an excellent relationship between the governments of the Federal Republic of Nigeria and the Republic of Congo,” he added. Speaking at the event, Alhaji Dangote said the intention of the group in its foray into Congo was not just to make profit but also to further empower the people of Congo, create new jobs and wealth.

“We are committed to our business all over the world and Congo will be no exception. We are going to invest $350 million in the construction of a fully integrated cement factory with an installed capacity of 1.5 million metric tons per year within the next three years and transform Congo into a net exporter of cement,” Dangote said.

According to him, this investment will serve as a launch pad into other sectors of the Congolese economy.

The factory is to be located in the territory of the Administrative District of Bouenza in the Southern part of the country. As a fully integrated plant the facility will process local limestone and other raw materials.

Alhaji Dangote assured of a successful delivery of the project, which is one of many other successful projects in 14 other African countries, where the company has invested noting that the investment would further strengthen the bilateral ties between the two countries.

“This indeed, shows that Africa is gradually taking its destiny in its own hands rather than wait for investors from outside Africa. Investment in the real sector of the economy is the only way that our continent can achieve the much desired accelerated growth and development that we have yearned for.

“The developmental challenges of Africa are quite tremendous. According to a report by the McKinsey Global Institute issued in June 2010, Africa requires at least $46 billion in spending annually to meet infrastructural needs. It is obvious that African governments alone cannot hope to meet this demand due to the various competing needs in other aspects of the economy.

“This is why private companies are needed to complement the government’s efforts. It is in this light that we have decided to invest in Cameroon,” Dangote explained.

He added;“We are motivated to create an African success story because we believe that entrepreneurship, especially our own home-grown African entrepreneurship, holds the key to the future economic growth of the continent. The fact that Africa offers one of the highest returns on investment

(ROI) in the world is an additional incentive for any discerning investor, who can take calculated risks,” he added.

Underscoring the Dangote Group’s commitment to Corporate Social Responsibility (CSR), he stated that while Dangote Group was in the business of creating wealth primarily, it was also mindful of the need to touch the lives of people especially in the immediate areas of its operations.

He stressed that; “As a company, we have always been conscious of the need to give a little of our profits back to the society as a guarantee for sustainable business success. This has been our guiding business philosophy. In all our host communities where we operate, we have a robust corporate social responsibility strategy in place, for translating this philosophy into projects and actions that touch positively on the citizens,”

“With the cooperation of our host communities, we will create employment opportunities and help small businesses to grow in Congo”, he assured.

The business mogul hinted that the long term ambition of the Group was to develop 50 million metric tons of cement production and terminal capacity in Africa by 2015, stressing that Dangote Group nursed the ambition to become a truly pan-African champion in the manufacturing sector, capable of competing globally with the largest cement companies in the world.

“We quite understand the dynamics of doing business in Africa because we are Africans. We respect the people and their cultures anywhere we operate in Africa and for us this is an undeniable edge.” He said.

Meanwhile, the deal to build a cement plant in Ethiopia was also signed between Alhaij Dangote and officials from the Ethiopia’s Oromiya region, where the plant will be constructed with an initial plan of two million ton production per annum. The project is scheduled to be concluded in 2013

Cement industry: Dangote group to establish cement industry in Congo

Brazzaville, Congo - Nigerian businessman Aliko Dangote Thursday announced the plan by his company, the Dangote Group, to establish a cement industry in Madingou in Southern Congo.

Speaking after an audience with Congolese President Denis Sassou Nguesso in Brazzaville, Alhaji Dangote said the proposed firm would have the capacity to produce 1.5 to 2.5 million tonnes of cement per year.

He said the proposed cement factory represented an investment worth 2 billion FCFA, and that the necessary arrangement for the establishment had been concluded with the Congolese authorities.

It is expected that the cement factory will create many jobs and also reduce the country's national deficit in cement production.

'I think with this industry, there will be no shortage of cement in Congo. We'll be far beyond consumption for today and the years to come,' the Congolese Minister of Industrial Development and Private Sector Promotion, Rodolphe Adada, said.

Captains of Industry from across Africa gathered in one room on Thursday, 20 October to attend the inaugural All Africa Business Leader Awards (AABLA) ceremony where Aliko Dangote and Standard Bank were winners in two separate categories each.

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