Dangote Cement sustains 54,000 jobs in four African countries

President of Dangote Group, Aliko Dangote, 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.

The business mogul told shareholders at the company’s 11th Annual General Meeting in Lagos that more jobs would be created as the company intensifies export of clinker to other neighboring countries from Nigeria.

He said: “According to our 2019 socioeconomic impact assessment study specifically on our operations in Nigeria, Ethiopia, Senegal and South Africa, we sustained 54,005 jobs (direct, indirect, induced) in these four markets in the year under review.”

Dangote Group is the highest employer of labour in Nigeria, outside the Federal Government and with its Refinery project coming up, the company will have more than 100,000 Nigerians under his employment.

It would be recalled that Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, while lauding the investment drive of Dangote recently said he is excited with the progress made at Dangote Refinery and Petrochemical plant so far, and that when it becomes operational, the refinery and petrochemical plant will increase its workforce from the current 34,000 to over 70,000.

Briefing shareholders at the AGM, Dangote, told the shareholders that the year 2019 was a strong year given the tough business environment across most of its operating geographies, disclosing that the Group recorded volumes of 23.7 million metric tonnes and revenues of N891.7 billion.

He said: “We recorded a strong EBITDA margin of 44.3%. As a result of this performance, the Board has recommended for your approval a dividend of N16.00 per ordinary 50 kobo share.”