The President of Dangote Group, Aliko Dangote has said that despite the challenging economic situation in 2019, Dangote Cement was able to sustain 54,000 jobs in four African countries, where the company has its operations. The countries are Nigeria, Ethiopia, Senegal and South Africa.
He disclosed this to shareholders at the company’s 11th Annual General Meeting in Lagos where he said more jobs would be created as the company intensifies the export of clinker to other neighboring countries from Nigeria.
“According to our 2019 socio-economic impact assessment study specifically on our operations in Nigeria, Ethiopia, Senegal, and South Africa, we sustained 54,005 jobs (direct, indirect, and induced) in these four markets in the year under review,” he said.
He said the year 2019 was a strong year given the tough business environment across most of its operating geographic, disclosing that the group recorded volumes of 23.7 million metric tons and revenues of ₦891.7 billion.
He said: “We recorded a strong EBITDA margin of 44.3 percent. As a result of this performance, the board has recommended for your approval a dividend of ₦16.00 per ordinary 50 kobo share.
Speaking on the local Nigerian operations, he said: “Nigeria’s cement market grew slightly in 2019. We estimate that total market consumption was up between 2 per cent-3 percent on the 20.7Mt estimated in 2018.”