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Dangote to leverage expansion, new trade routes under AfCFTA

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With many countries strategizing for the African Continental Free Trade Area (AfCFTA) that kicked off at the beginning of this month, Dangote Industries Ltd, has stated that its cement expansion plan and fertilizer investments will open new trade routes for the company and Nigeria under the trade deal.
   Already, the cement company, despite an installed capacity of 29.3Mta in Nigeria, is targeting an expanded entity in-country and in Cameroon, while new plants will soon be ready for commissioning in Niger, Benin, Ghana, Cote d’Ivoire and Togo.
   According to President/Chief Executive, Dangote industries Ltd, Aliko Dangote, Africa needs to deliberately improve its per capita consumption of cement in order to aid infrastructural development by stimulating further demand and forcing down the cost of the commodity.
   With the United Nations Conference on Trade and Development (UNCTD) report for 2020 clearly stating that for the Africa free trade area to work, the deficit in infrastructure should be looked into, Dangote is hoping to leverage the deficit with his cement investment in the continent.
    For Dangote Industries Ltd, moving goods like cement by road from Nigeria where they are manufactured to Ghana, where there is a big market, is “unviable”, hence the need for new plants that will open multiple trade routes.
   Group Executive Director of Dangote Industries Limited, Devakumar Edwin, had earlier explained that the movement of products via road is expensive as the governments of Togo and Benin complained of the pollution that the trucks will bring to the environment as well as the toll on the roads.
   With the success of the Doula plant in Cameroon, the company is already doubling its capacity in Yaoundé and targeting three million tonnes in the country to check competition as well as earn foreign exchange.
  Last year, Dangote Cement’s Pan Africa performance has been strong for all its operations in terms of margin in local currency with a few exceptions due to Covid-19.
   As the restrictions in many economies are lifted, the company is hopeful of improved performance and earnings.
     In 2011, Dangote had announced plans to invest $100 million to build a cement factory in Cameroon, in a move that would come to check monopoly and impact the economy of the country.
    Dangote however described the plant as “our largest Greenfield project in a neighbouring country with which we not only share a boundary but also a long history of brotherly relationship dating from our colonial days. Owing to the rich culture and history that we share, we have a better understanding of Cameroon.”
   He had said: “Our desire to increase our investment with the Phase 2 project is based on not only the fast growth rate of the Cameroonian economy but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroon.
   “Our choice of Cameroon for this multi-million-dollar investment is quite strategic. Cameroon is the largest economy in Central Africa and is well endowed with abundant natural resources. The country also enjoys political stability, adequate security and growing infrastructural development. In addition, President Biya has created an enabling environment that has continued to attract investors both from within and outside the African continent.”
    He said that the desire to ensure that Africa becomes self-sufficient in cement production informed the signing of a $4.34 billion contract with Sinoma International Engineering Company Limited, a Chinese construction giant, for the construction of 11 new cement plants in 10 African countries, and Nepal in Asia.
    Pioneer Country Manager, Dangote Cement Cameroon SA, Abdullahi Baba, stated that the journey in the last five years has been excellent, noting that it was not easy to oversee a project from the drawing table until full actualization.
   “We came in and the market was already satisfied but we brought out high quality products at affordable prices. We are so proud at the way we have been received both by the government and the people of Cameroon and I want to say that as at today, we have become the household name and we have come to stay in the entire country.
   “There are so many high points for the company. The first was that we came into Cameroon with the best technology available in the industry anywhere in the world. The other was that we introduced products that were the trailblazer in Cameroon as at that time because our quality was up there.
   He however noted that though competition has been coming up fast in the country, the firm is not relenting on its oars, saying, “We are doing everything we can to ensure that we maintain this position, but the key thing is the market share, the profitability and the maximizing of the use of local raw materials in the production of cement.
   “As we continue to work on volume increase and cost reduction, our current programme of alternative fuel system for all of our plants is will equally change the game. By leveraging alternative energy, we hope to bring down our cost as much as possible considering that cement production is a high-energy intensive activity”, he added.
   Minister of Mines, Industry and Technological Development, Gabriel Dodo Ndocke stated that since Dangote Cement was established in Cameroon, accessibility to cement product, the price and the quality has been enhanced, adding that the impact of the company on the economy is huge.
  “Today you can get cement everywhere and the price is accessible for everyone and the market has been open to other investors creating job opportunities.
   “Dangote has thrown the market open and before he came to Cameroon, our market was with just one investor in the sector. The presence of other investors has made it easy for us to get cement in a good quality and at an accessible price”, he added.
   The firm’s Country Manager, Bertrand Thaïs Mbouck, said the cement company is completing a period of induction, going by the sustainable approach towards growth.
   “How I see our company is like a 20 to 25 years sustainable growth agenda. We have to ensure that our strategy is properly drawn and implemented by doubling our commitment, involvement, improving our attitude and everything we are doing. In essence, we are focusing on efficiency, performance and the right attitude in everything we do.
   “What has really surprised us in this pandemic is that in comparison with other industries, the cement industry in Cameroon has been improving with positive outcome. We tend to see growth in demand for our product compared to other industries.
   “What we have realised in this pandemic, people have focused on some important investments in their life like building a house, as they are not traveling like they used to do. Our team also gave us an additional edge compared to competition. Our workforce has been intensively tracing the customers, tracing the point of sale and that has given us an edge in the market”, he added.
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Okobi, Esomeju, Otaigbe Join Global Leaders to Discuss Sustainable Finance, Economic Transition at UNEP FI’s Regional Roundtable

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As part of its continued commitment to sustainability, Access Holdings PLC will be amongst the leading participants in the United Nations Environment Programme Finance Initiative (UNEP FI) Regional Roundtable on Sustainable Finance for Africa and Middle East. Taking place from May 6-7, 2025, in Marrakech, Morocco, the event will bring together regulators, policymakers, and key stakeholders from the financial sector to discuss and shape critical sustainability issues, including climate mitigation and adaptation, nature-positive finance, just transition and financial inclusion, carbon finance, among others.Amaechi Okobi, Chief Brand and Communications Officer of Access Holdings; Edmund Otaigbe, Group Head of Credit Administration, Governance & Project Monitoring, and Njideka Esomeju, Group Head of Products and Segments, will be contributing insights from their extensive experience in driving sustainability within the financial sector. Among the discussions will be sessions dedicated to accelerating the transition of real economy sectors towards sustainability, addressing climate risks, and ensuring financial inclusion. One of the focal points will be how financial institutions can support climate adaptation and resilience, particularly in vulnerable sectors across Africa and the Middle East. The event will further tackle the challenge of unlocking private finance for the Sustainable Development Goals (SDGs), exploring innovative ways to align capital flows with regional sustainability needs.Other high-level dialogues will explore regional collaboration to support sustainability goals, advancing action on climate adaptation, and the regulatory developments promoting sustainable finance across the region. Panels will focus on topics such as financing and insuring MSMEs for climate resilience and fostering an inclusive transition by ensuring that vulnerable communities and underserved populations are not left behind in the push for green growth.Prominent speakers at the event include Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Agenda; Louise Gardiner, Senior Operations Officer at the International Finance Corporation (IFC); Lily Burge, Policy Manager, Climate Bonds Initiative; Samuel Tiriongo, Director of Research and Policy, Kenya Bankers Association;Walid Ali, General Manager, Sustainability Department, Central Bank of Egypt; Yasser Mounsif, Director of Issuers, Moroccan Capital Market Authority, alongside other leaders in sustainable finance.
www.accessbankplc.com The UNEP FI Regional Roundtable promises to be a critical platform for deepening collaboration among stakeholders across Africa and the Middle East, with the shared goal of creating a resilient, sustainable future for the region.###Access Holdings PlcAccess Holdings Plc is a leading multinational financial services group that offers banking, lending, payment, insurance, and pensions services. Headquartered in Lagos, Nigeria, Access Holdings operates through a network of more than 700 branches and service outlets, spanning three continents, 24 countries, and 60+ million customers.Access transitioned into a holding company to drive rapid growth and become a full-scale ecosystem player offering interconnected services across customer needs. Established in 2022, Access Holdings Plc consists of the Access Bank Group; Access ARM Pensions; a Payment and Switching Services Company; a Digital Lending Company, and an Insurance Brokerage Company. The banking vertical serves its various markets through four business segments: Retail, Business, Commercial and Corporate, and has enjoyed what is it arguably Africa’s most successful banking growth trajectory in the last eighteen years, becoming one of Africa’s largest retail banks by customer base and Sub-Saharan Africa’s largest bank by total assets. Access Holdings strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.About Access Bank PLC Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 24 countries and over 60 million customers. The Bank employs over 28,000 people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.Access Bank’s parent company, Access Holdings Plc, has been listed on the Nigerian Stock Exchange since 1998. The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed
www.accessbankplc.com what is arguably Africa’s most successful banking growth trajectory in the last 20 years, becoming one of the continent’s largest retail banks.As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.

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GTCO SUSTAINS PROFITABILITY MOMENTUM WITH GROWTH IN CORE INCOME – DECLARES A PBT OF N300.4BILLION IN Q1 2025

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Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of 300.4billion on the back of strong performance posted on the core₦ earnings lines of interest income which grew y-o-y by 41.1% and fee income up by 41.2%. The strong performance enabled the group to douse the impact of the 331.6₦ billion fair value gains recognised in Q1-2024 which did not recur in Q1-2025. The Group’s loan book (net) increased by 15.6% from 2.79trillion recorded as at December 2024 to₦ 3.22trillion in March 2025, while deposit liabilities grew by 7.7% from 10.40trillion to 11.20trillion during₦ ₦ ₦ the same period. The Group recorded growths across all its asset lines and continues to maintain a robust, well-structured, highly de-risked, and well-diversified balance sheet in all the jurisdictions wherein it operates. Total assets and shareholders’ funds closed at 15.9trillion and 3.0trillion, respectively. Full₦ ₦ Impact Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 34.6%, equally asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.3% at Bank Level and 4.5% % at Group in Q1-2025 (Bank -3.5% (Group- 5.2% in December 2024) and Cost of Risk (COR) closed at 0.4% from 4.9% in December 2024. Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO), Mr. Segun Agbaje, said; “Our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings. While the fair value gains of N331.6billion reported in Q1 2024 did not recur this quarter, the Group recorded solid growth across most income lines, underpinned by a diversified revenue base and a healthy, well-structured balance sheet.”He further stated that, “We remain optimistic about the year ahead. The fundamentals of our business are strong, our customer base continues to grow, and we are executing with discipline across our strategic priorities. Importantly, at this pace, the Group is well-positioned to deliver the full year PBT of 2024 at the very minimum by the end of the 2025 FYE.”Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 42.2%, Pre-Tax Return on Assets (ROAA) of 7.8%, Full Impact Capital Adequacy Ratio (CAR) of 34.6% and Cost to Income ratio of 29.0%. Guaranty Trust Holding Company Plc (GTCO Plc) is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, GTCO Plc provides a wide range of banking and non-banking services, including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across It’s markets.

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GTCO Food and Drink Festival 2025: A Shared Experience of Culture, Cuisine, and Enterprise

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The stage is set for Africa’s most anticipated celebration of food, drink, and culture as Guaranty Trust Holding Company Plc (GTCO) announces the 8th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 2nd to Sunday, May 4th, 2025, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.

This year’s festival is themed “A Shared Experience”, highlighting how every meal tells a story—stories of culture, community, and tradition that unite people across generations and geographies. The 2025 edition will feature 204 free retail stalls, showcasing the rich diversity and creativity of our food culture—from traditional Nigerian dishes and regional delicacies to contemporary fusion cuisines, savory bites, refreshing beverages, and gourmet desserts. Attendees can also look forward to a series of masterclasses, where internationally renowned chefs and respected culinary experts will share practical insights, recipes, and techniques spanning a wide range of cuisines and disciplines.

In addition to the food exhibition and masterclasses, visitors will enjoy an expansive street food arena, offering a vibrant selection of popular local delicacies, and a dedicated children’s play area, ensuring a fun, safe, and memorable experience for the entire family.

Speaking on the significance of the festival, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc, said: “The GTCO Food and Drink Festival is a celebration of our rich cultural diversity and entrepreneurial spirit. Every meal shared is a reminder of our traditions and the universal language of food that connects us all. Beyond the festivities, the festival reflects our commitment to supporting local enterprise—creating a free business platform where food retailers can connect with consumers, share their unique offerings, and take meaningful steps toward growth and long-term sustainability.”

At the heart of the festival is GTCO’s vision of Promoting Enterprise in support of small businesses, especially indigenous foodpreneurs. It is part of the Group’s broader commitment to creating Great Experiences for customers by offering meaningful opportunities for connection, growth, and shared success.

Admission to the GTCO Food and Drink Festival is free, and everyone is welcome to join in this extraordinary celebration of food, culture, and enterprise.

For more information on the event, please visit: https://foodanddrink.gtcoplc.com

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