Aliko Dangote, the Chairman of Dangote Cement Plc, has promised shareholders and other stakeholders higher returns by leveraging on strategic innovations for the continuous growth of their investments.
He made this promise at the 14th annual general meeting of his company in Lagos. Dangote said that the prospects for the cement company remained bright.
He said, “We will continue to make sure that we keep our shareholders happy, not only the shareholders but all our other stakeholders. Our strategy remains steadfast, focused on organic growth in Nigeria and Pan-Africa while ensuring that Africa’s regional integration becomes a reality.
“We will continue to contribute to improving regional trade within Africa by building plants across West and Central Africa, guided by our vision of making the region cement and clinker self-sufficient. In addition, we aim to deliver higher returns and value to our shareholders.”
He added that, “As a result, we recorded revenue and EBITDA growth of 17.0% and 3.5% from the prior year respectively, albeit under unprecedented inflationary pressure. We also achieved a profit after tax of N382.3bn, up 4.9% compared to 2021.”
Dangote believes that organic growth within Nigeria coupled with regional integration will be key to achieving these goals. To ensure that all stakeholders are satisfied he intends to focus on developing innovative strategies which will help drive further investment into the industry while also providing attractive returns to those already invested in it.
His optimism is based on a bright future outlook for cement production in Nigeria and across Africa as a whole.