brand

Dangote to leverage expansion, new trade routes under AfCFTA

Published

5 years ago

January 10, 2021

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.

Post Views: 1,632

brand

ZENITH BANK RENEWS COMMITMENT TO CHILDREN WITH EDUCATION, INCLUSION & OPPORTUNITY AT THE CORE

Published

3 days ago

May 26, 2026

NewsThumb Magz

Much more than commemorating the annual Children’s Day marked every May 27, Zenith Bank Plc is championing the

narrativethatchildrenarethetrueleadersoftomorrow.TheBankhasdeepeneditsinvestmentincarefullycurated

initiativesthatelevatechildrenacrosseducation,financialliteracy,health,digitalinclusion,andsocialprotection,

building a generation equipped to thrive and lead. For Zenith Bank, every child matters, and the Bank’s footprint reflects

a deliberate, pan-African strategy to nurture potential from the earliest age.

Zenith Bank has been the financial institution partner to Kiddies Corner on Inspiration 92.3FM Lagos for over three

years, anchoring the Tuesday edition and Zenith Financial Literacy Friday show. The programme blends spelling bee

contestswithfinancialliteracyquestions,creatingawarenessandonboardingchildrenintotheZenithChildren’s

Account (ZECA). This partnership came alive at the Inspiration FM Children’s Day Carnival on Saturday, May 23, 2026,

whereZenithBankhostedover1,000childrenandtheirparents,celebratingZECAwinnerswithgames,skits,and

Zenith Bank branded gifts.

The Bank’s Zenith Financial Literacy Week, held quarterly, takes this mission into select schools across all 36 states

andtheFCT.Studentsaretrainedonsavings,budgeting,basicinvestments,anditsretailproducts,withthetop

performer in each school awarded N50,000. Complementing this is the Bank’s nationwide Financial Literacy Program

undertheCBN-mandatedGlobalMoneyWeek,whichin2025alonereached3,622studentsacross22LGAs,

deploying 137 bank employee volunteers as educators.

In alignment with the United Nation’s (UN) Sustainable Development Goal (SDG) 4 on Quality Education, Zenith Bank

hasdonatedstate-of-the-artICTcentresandcomputersystemstoschoolsanduniversitiesnationwide,includinga

ComputerCentretoBamainaAcademy,Dutse,JigawaState.Itstransformativeinterventionsincludefullyequipped

libraries,vocationalfacilities,andlarge-scaleschoolrenovations,fromOjotaSecondarySchoolandVictoriaIsland

Secondary School in Lagos to Hugallawa Primary School in Jigawa. Targeted financial support further breaks barriers

with N1 million cash donation to Louisville Girls High School, Ijebu-Itele, supporting girl-child education; infrastructure

upgrades at Maryland Comprehensive Secondary School; a N1 million scholarship endowment for St. Francis Catholic

Secondary School; and support for the North-East Children’s Fund to aid education in conflict-affected communities.

Through its Primary Healthcare Centre Initiative across all 774 LGAs, Zenith Bank educates parents on early childhood

savings during routine visits, linking health and financial well-being. The “PAD-A-QUEEN” Initiative commemorates the

International Day of the Girl Child, reaching5,000 girls in 10 schools withsanitary pads, hygiene kits, and menstrual

health education to keep girls in school and promote SDGs 3, 4, and 5.

The Bank’s compassion extends to the most vulnerable. At Bethesda Home and School for the Blind, Idi Oro, Lagos,

Zenith donatedbraille materials,food, and toiletries.For the2026 InternationalDay forStreet Children,it partneredwith

Bosco Child Protection Centre on medical check-ups, food, clothing, and counseling. Annual Christmas Charity Visits to

orphanagesdelivercash,toys,andessentialsupplies,whilesupportfortheSmileandShineChildrenFoundation’s

Strive Conference empowers over 2,000 adolescents with life skills and leadership training.

Commenting on the Bank’s intentionality towards the development of children, Dame Dr. Adaora Umeoji, OON, Group

Managing Director/CEO, ZenithBank Plc, said, “AtZenith Bank, weare deliberate about initiativesthat elevate children

becausetheyarenotjustourfuture,theyareourpresentresponsibility.AsWhitneyHoustonsopoignantlysang,‘I

believethechildrenarethefuture,teachthemwellandletthemleadtheway.’Thatisthephilosophydrivingour

investmentsineducation,financialliteracy,health,anddigitalinclusion.FromKiddiesCornertoICTcentres,from

PHCs to orphanages, we are teaching them well, equipping them early, and giving them the tools to lead. Zenith Bank

renews its commitment to every Nigerian child, to nurture their dreams, protect their dignity, and secure their tomorrow.”

Championing youth expression, the Zenith Annual Youth Parade, hosted by the Bank for 19 years, stands as a flagship

Corporate Social Responsibilityinitiative. Bringing togetherthousands of childrenand teenagers in avibrant showcase

of unity and discipline, the parade has remained dedicated since inception to the vital mission of supporting, nurturing,
andempoweringtheNigerianchild,reinforcingtheBank’sbeliefthatleadershipislearnedearlythroughteamwork,

confidence, and celebration of young Nigerian identity.

ForZenithBank,Children’sDayismorethanadateonthecalendar.Itisadailypledgetoempower,protect,and

prepareNigeria’schildrenforleadership.Fromclassroomstocommunities, the Bank’s initiatives are teaching them well

and letting them lead the way because the future belongs to children who are equipped today.

Post Views: 28

brand

ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING

Published

3 weeks ago

May 6, 2026

NewsThumb Magz

Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of

Directors.Theappointment,whichtakesimmediateeffect,hasbeenapprovedbytheCentralBankof

Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr.Bello’sappointmentrepresentsastrategicsteptoensurethecontinuity,stability,andsustained

effectivenessoftheBoard,whilereinforcingthehighstandardsofcorporategovernance,regulatory

compliance,andstrategicoversightforwhichZenithBankiswidelyrespected.HejoinedtheBoardof

Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board

Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as

Chairman of theBoard RiskManagementCommitteeuntilhisappointmentasChairmanof theBoardof

Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate

governanceprinciplesandregulatoryexpectations,andaproventrackrecordinstrategicoversightand

organisationalgrowth.Hehasconsistentlydemonstratedintegrity,independenceandsoundjudgement,

qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more

than four decades across the public and private sectors of the Nigerian economy. He served as Minister of

CommerceoftheFederalRepublicofNigeriafrom1999to2002underPresidentOlusegunObasanjo,

GCFR,whereheledthedevelopmentofNigeria’sWTO-consistentTradePolicy.Healsooversawthe

CorporateAffairsCommission(CAC)onlineprojectof2002,whichmodernisedthewaybusinesses

registerandoperateinthecountry.FromNovember2003toFebruary2014,heservedasExecutive

Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where

hewasinstrumentalinattractingforeigndirectinvestmentintoNigeria,buildingmultilateralandbilateral

partnerships, and representing the Federal Government at international conferences and missions.

HegraduatedfromAhmaduBelloUniversity(ABU),Zaria,in1978withaB.Engr.inCivilEngineering

(SecondClassUpperDivision),winningtheShellPrizeforthebestprojectandthesisintheFacultyof

Engineering.HebeganhiscareerwiththeNigerianArmy’sDirectorateofQuarteringandEngineering

Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer

from 1980 to 1983.

HeiscurrentlytheChairmanofInvest-in-NorthernNigeriaLimited,aspecialpurposevehicleforthe

economic and social transformation of the Northern Nigerian economy, and has previously served on the

boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina

WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of

Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as

well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).

Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations

acrossNigeria,theUnitedKingdom,theUnitedArabEmirates,Ghana,SierraLeone,TheGambiaand

Côte d’Ivoire.

Post Views: 113

brand

ZENITH BANK EXPANDS FOOTPRINT WITH CÔTE D’IVOIRE SUBSIDIARY LAUNCH

Published

1 month ago

April 29, 2026

NewsThumb Magz

Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.The new subsidiary, licensed in December 2025 by the Ministry of Finance and Budget, Republic of Côte d’Ivoire, and regulated by the UMOA Banking Commission, will commence operations from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.The launch represents a strategic move to deepen the Bank’s presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU). Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.Commenting on the launch, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said: “From the very beginning, our Founder and Chairman, Jim Ovia CFR, set out to build a truly global brand with a strong presence across Africa and key international markets. The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent. As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”The new subsidiary will be headed by MD/CEO Mr. Cédric Tano, a seasoned banking executive with over two decades of experience. Speaking ahead of the official opening, he said “We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration. Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight. We are well positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region.”The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy. In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the Bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point. With a footprint already spanning Nigeria, Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China, Zenith Bank continues to bridge African markets with global opportunities, enabling seamless trade and financial connectivity across the continent and beyond.

Founded in 1990, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a consistent track record of strong financial performance. For 16 consecutive years, the Bank has held the record of highest Tier-1 capital in the Nigerian banking industry. Built on the foundation of People, Technology, and Service, Zenith Bank continues to deliver innovative financial solutions while maintaining a disciplined approach to growth and risk management. Its performance has earned it numerous local and international recognitions and endorsements.

Post Views: 84