(Business in Cameroon) - Nigerian giant Dangote Cement reports that its Cameroonian subsidiary controlled 38% of the local cement market in the first quarter of 2020.
According to the company, its 1.5 million tonnes per annum (Mt) clinker grinding plant in Douala sold around 312 kilotonnes (312,000 tonnes) of cement in the first quarter of 2020. This represents an increase of 4.3% over the 299 kilotonnes (299,000 tonnes) sold in the first quarter of 2019.
“We estimate the total market for cement in Cameroon to have been about 819.9Kt in the first three months of 2020. The market is primarily driven by individual construction projects, government housing estate projects and the continuation of the African Cup of Nations’ developments,” the group writes.
Dangote Cement explains that in all of the African markets where it operates, 2020 started with strong growth, despite the first effects of the Covid-19 pandemic. “We achieved a record-high quarterly EBITDA margin in Pan-Africa and a record high quarter in Nigeria, with revenues of ₦179B and domestic volumes at 4.0Mt,” Dangote Cement adds.