Real estate

November 15, 2017


128.7 million shares of Dangote Cement Sold to Dubai Investors

Dangote Industries Limited (DIL) has sold an additional stake in Dangote Cement to investors based in Dubai. 128.7 million shares were sold at a price of N210 per share with an estimated value of N27 billion.

DIL is the investment vehicle through which Aliko Dangote maintains a controlling stake in Dangote Cement and other companies within the Dangote Group.

DIL, had in"...

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November 6, 2017


Nigeria: Cement Importation Declines as Local Production Grows to $2bn‎ in 1yr

As Nigeria records massive reduction in cement importation, industry stakeholders‎ have confirmed that local production of cement has accounted for about $2 billion in the past one year.

The Chairman, BUA Group, Abdulsamad Rabiu, gave the indication while speaking to State House correspondents at the end of a Presidential Industrial Policy and Competitiveness Advisory Council (PIPCAC) meeting chaired by Vice President Yemi Osinbajo at the Presidential"...

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October 31, 2017


South African real estate market sees home prices fall and growing appetite for apartment living

Weaker demand and downward price corrections are seeing more owners withdraw properties from the market or decide against listing homes, according to First National Bank’s (FNB) latest House Price Index.

Released in August, the survey of the housing market reported that price rises had again returned to slow growth following a brief period of acceleration, and are expected to remain modest for the rest of 2017 – for the third successive"...

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October 28, 2017


Lafarge Begins Exportation of Cement to Ghana

Building solutions company, Lafarge Africa Plc, has commenced export of cement to Ghana. The move helped in growing its sales in the third quarter and nine-month period ended September 2017 by 39 per cent and 28 per cent, respectively.

Stable prices, fuel flexibility and, better logistics and commercial performance increased the company’s earnings before interest, tax, depreciation, and amortisation by four times to N41.7bn with margins stable"...

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October 26, 2017


New Algerian import rules likely to reduce demand for rebar imports

A new regulation affecting finished goods imported into Algeria is likely to reduce demand for rebar imports in the country, sources told Metal Bulletin on Wednesday October 25.

The regulation, introduced by the Algerian Central Bank on October 22, requires importers of finished goods for resale, to provide a financial guarantee worth 120% of the value of the imported products. This must be done at least 30 days prior to the shipment of the goods."...

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October 21, 2017


Dangote Cement Considering Eurobond Issue

Dangote Cement is considering issuing Eurobond or a local debt issue and will make a decision towards the end of the year, its chief financial officer, Brian Egan said yesterday.

Reuters quoted Egan to have said 70 percent of the company’s N389 billion debt was short-term and from its parent firm, Dangote Industries Limited, saying that the company wanted to move away from that.


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