Dangote Cement Sees Strong Financial Performance
Nigeria news highlights Dangote Cement’s impressive 62.2% revenue growth, hitting ₦3,580.6 billion in 2024. Amidst global and domestic macroeconomic challenges, the company also achieved a 56% increase in EBITDA, reaching ₦1,388.2 billion. CEO Arvind Pathak credits this success to operational efficiency and strategic market penetration, especially in the Nigerian market.
Local Investments and Sustainability Efforts
In notable Abuja news, the launch of the Document Management System (DMS) empowered over 80% of customers to manage transactions independently, aiming for 90% adoption. The firm’s export strategy fostered a 69.1% increase in Nigerian exports, reflecting its commitment to Africa’s cement self-sufficiency. Dangote Cement’s sustainability efforts were recognized by the Carbon Disclosure Project, with ratings upgraded in climate and water initiatives.
Key Takeaways:
- Revenue grew by 62.2%, reaching a record of ₦3,580.6 billion.
- Over 80% of customers use the Document Management System.
- Export strategy drove a 69.1% increase in Nigerian exports.
To further enhance its market position, Dangote Cement plans to commission a 3Mta grinding plant in Cote d’Ivoire by 2025, expanding its presence in the African cement market. How do you think innovative technologies like the DMS can transform other industries in Lagos news? Share your thoughts!
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