Connect with us

News

2023: Dangote Cement increases shareholder’s dividend by 50%, to N30 per share

Published

on

…sales from African subsidiaries rose by 12.7%

Nasiru Yusuf Ibrahim

 

In line with the promise of Chairman, Dangote Cement, Aliko Dangote at the company’s 2022 Annual General Meeting (AGM), of an enhanced return on Investments to all the shareholders and other stakeholders in Dangote Cement, Plc, the company’s Management for the year ended December 31, 2023, has proposed an increase in the dividend payout to the shareholders, by 50 percent, to N30 per share.

KANO FOCUS reports that the proposed increase in dividend is subject to ratification by the shareholders at the forthcoming, AGM. Proposing a dividend of N30 per share at a period when many firms are declaring losses is an indication of the resilience of Dangote Cement and the prospects it holds for investors.

A breakdown of the results indicated that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 percent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 percent to ₦455.6 billion. Earnings per share went up by 18.8 percent at ₦26.47.

Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 percent to 11.3Mt.

Group Managing Director, Dangote Cement, Arvind Pathak speaking on the results said “This positive full-year outcome is a combination of the strength in the diversity of our operations across Africa and our sustained drive to contain cost amidst an accelerating inflationary environment. The Group achieved double-digit growth in revenue at ₦2,208.1 billion, while Group EBITDA reached a record high, increasing 25.1 percent to ₦886.0 billion.

Despite the challenging macroeconomic conditions, 2023 was yet another testament to the effectiveness of our diversification strategy. Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 percent and now account for 41.2 percent of Group volume. Consequently, pan-African revenue increased by a record 123.2 percent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”

He added, “In response to the heightened inflationary environment, we implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins. These initiatives included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels. We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks.

Looking ahead, following the commissioning of our 0.45Mta grinding plant in Takoradi, we are focusing on our “export to import” strategy in West and Central Africa, while concurrently optimising assets in Eastern Africa. Our strategy remains centered on enhancing our value proposition through the production of high-quality cement and delivering sustainable value to our stakeholders.”

 

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

K-SAFE lauds Kano’s ₦168.4 billion education budget allocation

Published

on

Dr. Auwalu Halilu

 

Nasiru Yusuf Ibrahim

 

Kano State Accountability Forum on Education (K-SAFE) has commended Gov. Abba Kabir Yusuf for allocating the largest share of 2025 budget to education sector. 

KANO FOCUS reports that the Co-chair of the coalition Dr. Auwalu Halilu made the commendation during 2025 budget public hearing organised by state House of Assembly.

It will be recalled that Gov. Yusuf had allocated the sum ₦168.4 billion to education sector representing 31% of ₦549.16 billion proposed 2025 budget.

However, Dr. Halilu appealed to Kano state government to expedite the approval and implementation of girls education policy, teacher development policy, non state schools policy and the ECCD policy.

K-safe advocated for speedy passage of the revised Kano education law, expediting engagement with UBEC for timely release of counterpart funds as well as restoring free education funding.

The coalition also advocated for the creation of budget line for annual operational plan, expanding girls transportation and enhancing oversight on MTSS/AESR.

Kano State Accountability Forum on Education (K-SAFE) is a coalition of civil society organizations, professional associations, academia, media, and government entities working collaboratively to support education in Kano State.

In his address the speaker of the House Alhaji Jibril Ismail Falgore represented by Bello Muhammad Butu-Butu pledged to treat the submissions with utmost respect.

He expressed appreciation to all those who participated in this year’s budget public hearing in the Assembly.

Butu-Butu used the medium to extend condolences to CSOs over the death of I. G Maryam and Prof. Jibrin Isa Diso.

Also speaking the chairman House committee on appropriation, Alhaji Aminu Sa’adu Ungoggo reiterated the assembly’s commitment in passing a-citizens-oriented budget.

He stressed that the house will scrutinize the inputs for possible inclusion into the budget to align with the yearnings and aspirations of the public.

Continue Reading

News

AGILE launches ‘second chance’ learning centers in Gwarzo

Published

on

Nasiru Yusuf Ibrahim

 

The Adolescent Girls Initiative for Learning and Empowerment (AGILE) in Kano has launched twenty learning centres under the second chance component in Gwarzo local government, a game-changer for dropouts and out-of-school adolescent girls and young mothers.

 

KANO FOCUS reports that the initiative was to provide another opportunity for the beneficiaries to complete their secondary education, equipping them with entrepreneurship and essential life skills for self-reliance and improved living standards.

 

The event held at Gwarzo Islamic Center witnessed a large turnout of top government functionaries, traditional and religious leaders, parents, learners and all relevant stakeholders in the education sector.

 

In his remarks, Kano state AGILE coordinator Alhaji Nasiru Abdullahi Kwali explained that the newly introduced Second Chance Education (Sub-Component 2.2c) is resigned to provide another opportunity for dropouts and out-of-school adolescent girls and young mothers to complete their secondary education, in addition to equipping them with entrepreneurship and essential life skills for self-reliance and improved living standards.

 

He stressed that the mentors and facilitators will be trained in addition to the provision of facilities to enable them acquire the needed knowledge and skills according to global standard.

 

The state coordinator pointed out that, they were at Gwarzo LGA to inaugurate the second chance learning center through the utilization of Adult Learning Centers spread across communities under the State Agency for Mass Education (SAME).

 

The AGILE second chance education component 2.2c lead person Hajiya Jamila Ibrahim, revealed that the 800 beneficiaries were mobilised from 10 political wards in Gwarzo local government area.

 

She said “The federal government approved 20 centers for each state but Gwarzo LGA requested for a center across all the political wards to accommodate it’s teeming populaci.”

 

She urged young women between the ages of 15-25 to utilize the opportunity to join the second chance education by receiving the expression of interest form to seek consent from their guardians before submitting to the ward head for enrollment.IMG 20241211 WA0253

 

The chairman Gwarzo local government area Dr. Mani Tsoho described the new second chance education component by AGILE as apt.

 

He reiterated the LGAs commitment in providing all the necessary support to achieve the desired objectives.

 

“We will provide more learning centres to accommodate the large population as you can see the Islamic centre is full and many more are coming”

 

The technical adviser AGILE second Chance 2.2c, Dr Auwal Halilu, pointed out that the component offers the opportunity to young women to acquire knowledge without compromising their day-to-day activities.

 

“It is organized in such a way that women and young girls can acquire learning at their convenience”

 

Some of the enrollees for the second chance education in Gwarzo Hafsat Sani Usman, Khadijah Aliyu Sani promised to dedicate themselves to their studies.

 

This initiative is part of the AGILE Project, a multi-sectoral development project implemented by the Kano State Ministry of Education to address the constraints hindering adolescent girls’ transition, retention, and completion of secondary education.

 

Continue Reading

Headlines

Gov Yusuf reshuffles cabinet, sacks SSG, chief of staff

Published

on

Nasiru Yusuf Ibrahim

 

Governor Abba Kabir Yusuf has sacked the Secretary to the State Government, Dr. Abdullahi Baffa Bichi, along with five commissioners, and scrapped the office of the Chief of Staff.

KANO FOCUS reports that those removed include the Commissioner for Information, Halilu Baba Dantiye; Ibrahim Jibril Fagge of the Finance Ministry; Ladidi Ibrahim Garko of Culture and Tourism; Shehu Aliyu Karaye of Special Duties; and Abbas Sani Abbas of Rural and Community Development.

In a major cabinet reshuffle announced in a statement by the Governor’s Spokesperson, Sanusi Bature Dawakin-Tofa, Governor Yusuf reassigned the portfolios of seven commissioners, including the Deputy Governor, Comrade Aminu Abdussalam, who was moved from Local Government and Chieftaincy Affairs to the Ministry of Higher Education.

According to the statement, Governor Yusuf said the reshuffle of the state executive council is meant to effect a pragmatic political realignment of his administration.

Those who retained their positions include the Attorney General and Commissioner for Justice, Barr. Haruna Isa Dederi; Commissioner for Agriculture, Dr Danjuma Mahmoud; Commissioner for Health, Dr Abubakar Labaran; Commissioner for Land and Physical Planning, Hon. Abduljabbar Mohammed Umar; Commissioner for Budget and Planning, Hon. Musa Suleiman Shannon; and Commissioner for Works and Housing, Engr. Marwan Ahmad.

Also retained are the Commissioner for Solid and Mineral Resources, Sefianu Hamza; Commissioner for Religious Affairs, Sheikh Ahmad Tijani Auwal; Commissioner for Youth and Sports, Hon. Mustapha Rabiu Kwankwaso; Commissioner for Investment and Commerce, Adamu Aliyu Kibiya; and Commissioner for Internal Security and Special Services, Major General Mohammad Inuwa Idris (Rtd).

According to the statement, those reassigned include Deputy Governor Comrade Aminu Abdussalam, who is moved from the Ministry of Local Government to Higher Education; Hon. Mohammad Tajo Usman, who moved from Science and Technology to the Ministry of Local Government and Chieftaincy Affairs; and Dr. Yusuf Ibrahim K/Mata, from Higher Education to Science, Technology, and Innovation.

Others reassigned include Hon. Amina Abdullahi, who moved from Humanitarian and Poverty Alleviation to the Ministry for Women, Children, and Disabled; Hon. Nasiru Sule Garo, from the Ministry of Environment and Climate Change to the Ministry of Special Duties.

Hon. Ibrahim Namadi, Commissioner for Project Monitoring and Evaluation, is now moved to the Ministry of Transport, while Hon. Haruna Doguwa of the Ministry of Education is moved to the Ministry of Water Resources. On the reassigned list are Hon. Ali Haruna Makoda, moved from Water Resources to the Ministry of Education; Hon. Aisha Lawal Saji, from the Ministry of Women, Children, and Disabled to Tourism; and Hon. Muhammad Diggol, from Transport to the Ministry of Project Monitoring and Evaluation.

Meanwhile, Governor Yusuf has dropped five members of his cabinet, including Ibrahim Jibril Fagge of the Finance Ministry; Ladidi Ibrahim Garko of Culture and Tourism; Baba Halilu Dantiye of Information; Shehu Aliyu Karaye of Special Duties; and Abbas Sani Abbas of Rural and Community Development.

Additionally, the Governor has directed the Chief of Staff and the five commissioners who have been dropped to report to the Governor’s office for possible reassignment.

Continue Reading

Upcoming Events

There are no upcoming events at this time.

Facebook

Twitter

Trending