Lagos, 23rd January 2020: Dangote Cement Plc (NSE: DANGCEM, ‘DCP’), Africa’s largest cement producer, announces the publication of credit ratings from Global Credit Ratings.
Global Credit Ratings
Global Credit Ratings has affirmed the long-term and short-term national scale issuer ratings of AA+ (NG) and A1+(NG) respectively, assigned to Dangote Cement Plc, with the outlook accorded as Stable.
The ratings expire in November 2020.
The full rating can be viewed on Global Credit Ratings’ website: http://globalratings.com.ng/news/article/gcr-affirms-dangote-cement-plcs-rating-of-aang-outlook-stable1
Joe Makoju, Chief Executive Officer, said:
“Dangote Cement is a high-growth, low-debt, internationally diversified company with a strong commitment to maximize shareholder value creation. The publication of this credit rating highlights the financial strength we have achieved through our continuous focus on the profitable expansion of the business in Nigeria and across the Continent, while maintaining a strong financial discipline.”
About Dangote Cement
Dangote Cement is Africa’s leading cement producer with nearly 46Mta capacity across ten countries in Sub-Saharan Africa. A fully integrated quarry-to-customer producer, we have a production capacity of 29.25Mta in our home market, Nigeria. Our Obajana plant in Kogi state, Nigeria, is the largest in Africa with 13.25Mta of capacity across four lines; our Ibese plant in Ogun State has four cement lines with a combined capacity of 12Mta, while our Gboko plant in Benue state has 4Mta. Through our recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into a net exporter, serving neighboring countries that lack the limestone necessary for cement manufacturing. In addition, we have operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).