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You are here:Home>>Strategic Research & Analysis>>Dangote Extols Jonathan's Policy and To build $400M cement plant in Kenya
Saturday, 07 September 2013 20:11

Dangote Extols Jonathan's Policy and To build $400M cement plant in Kenya

Written by Administrator
Aliko Dangote Aliko Dangote

Aliko Dangote,  Chief Executive Officer of Dangote Group and the richest African  with a wealth value of  $25 billion was in Kenya with President Jonathan of Nigeria. Dangote was part of business delegation that came with Nigerian president to Kenya on a official visit.

 

"(President Uhuru Kenyatta) particularly cited the ... the decision by Nigerian tycoon Aliko Dangote to invest $400 million in a cement processing plant as an indicator that an "exciting journey has begun"," according to official statement by Kenyatta's office.

 

Also in Kenya, when President Jonathan attended the  gathering of Nigerian citizens living in Kenya, Dangote in the meeting extol the favorable economic  policy of Jonathan administration that made it possible for his business to grow bountifully. Dangote in his words:

 

“I want to tell you what the president has been doing in Nigeria. He is very humble and may not want to sing about what he has been doing. We are very grateful for some of the policies he has introduced. As you all know, without the good policies of government, there is no way a person like me from a big town like Kano can rise from a humble beginning to become the 25th richest person on earth.

 

Without the policies of Mr President and also making sure that yes, there is consistency in the policies of government this could not have happened. If government has bad policies, the whole economy will crumble, and if they have good policies people will be able to prosper, and that is what it is now. Today, the company that we started, which was worth not more than four million dollars; by the grace of the Almighty and through the good policies of our government, this same company of ours is now worth 21 billion dollars.”

 

President Uhuru Kenyatta with his Nigerian President  Goodluck Jonathan (left) at State House in Nairobi, Thursday. Photo: Mbugua Kibera/Standard

 

Reuters reported that  Dangote investment in Kenya was not timeline:  " The statement did not give details on timelines, or the plant's capacity. There was no immediate comment from the company. Dangote Cement, Africa's biggest, said earlier this year it would expand its pan-African production capacity to 55 million tonnes by 2016, without giving a comparable figure.

 

Other countries the cement company has previously said it planned to venture into include Cameroon, Ethiopia, Zambia, Tanzania, Senegal and South Africa. Cement companies already operating in Kenya include Bamburi Cement, ARM Cement and East African Portland Cement."

 

It was further reported that "Kenya produced 412,529 tonnes of cement in July, up from 402,621 tonnes a month earlier, according to the Kenya National Bureau of Statistics. Cement consumption stood at 332,009 tonnes, from 341,942 tonnes a month earlier."

 

Earlier this year in May, Dangote had promised to invest  $5 billion in the rest of Africa building cement industries.

Last modified on Saturday, 07 September 2013 21:29

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