 |
| L-R: President/CE, Dangote Industries Limited, Aliko Dangote being decorated with the “Commander of the National Order of Valour” by President of the Republic of Cameroon, Paul Biya at The Unity Palace, Yaoundé, Cameroon. |
President Paul Biya of Cameroon has awarded Aliko Dangote
the country’s highest civilian honour – the Commander of the National Order of
Valour.
Biya said honour was conferred on Dangote in recognition of
his efforts in infrastructural development of Cameroon and Africa through his
cement plants.
At the conferment ceremony held at the Unity Palace, Yaoundé
on 23 June, Biya praised Dangote’s various efforts to promote industrialisation
across Africa through the building of cement plants in several African
countries.
He noted that these plants have provided thousands of direct
and indirect employment at their various locations, to boost the economies of
their host countries, just like in Cameroon.
He urged Dangote to consider more investments in the
manufacturing sector in Cameroon, explaining that there are numerous business
opportunities in the country.
He maintained that his government is focused on promoting a
business-friendly environment to make the country more attractive and an
investors’ destination.
Dangote thanked President Biya and the people of Cameroon
for the great honour done to him in the award of the nation’s highest civilian
honour.
He disclosed that there are plans to diversify the group’s
investments in Cameroon, starting with energy.
“We have plans to expand our investment to other sectors
beginning with oil and gas while our capacity in cement will be expanded”.
He commended the Cameroonian government for providing an
enabling environment, which aided the successful completion of the Dangote
Cement plant.
He also expressed appreciation for the support provided by
the President and cabinet in solving the challenges encountered in the
construction of the plant.
“At the inception of our construction activities at the
plant, we encountered several challenges, but the government stepped in and
ensured that we overcame these initial problems.
“Also, the incentives by the Government to investors are
encouraging. We feel very much at home here in Cameroon because of the
business-friendly environment. If demand for cement increases, we will increase
the capacity of the plant and make the country self-sufficient in cement
production.”
Dangote Cement Cameroon SA, part of Dangote Cement Group was
commissioned six years ago, and has boosted domestic cement production, reduced
partly the domestic deficit, and helped in holding down the price of a bag of
cement in the country.
Dangote Cement is sub-Saharan Africa’s largest cement
producer with an installed capacity of 48.6Mta across 10 African countries and
operates a fully integrated “quarry-to-customer” business with activities
covering manufacturing, sales, and distribution of cement.
It has a long-term credit rating of AAA+ by GCR and Aa2.ng
by Moody’s due to its market leading position, significant operational scale
and strong financial profile evidenced by the company’s robust operating and
net profit margins relative to regional and global peers, adequate working capital,
satisfactory cash flow and low leverage.
Dangote Cement is a subsidiary of Dangote Industries
Limited, a diversified and fully integrated conglomerate as well as a leading
brand across Africa in businesses such as cement, sugar, salt, beverages, and real
estate.
The group’s $11 billion petrochemical complex will soon be
fully ready.
It recently rolled out its fertiliser products into the local market, with plans for export while meeting local demand to boost agriculture.