Cameroun: after cement, Aliko Dangote announces investments in the oil and gas sectors

The Dangote group will broaden its range of investments in Cameroon. Six years after the construction of a cement plant in Douala with a capacity of 1.5 million tonnes for an investment of around 80 billion FCFA ($ 145 million), and while the project for a cement plant in Yaoundé is progressing to big steps, the Nigerian industrialist Aliko Dangote announced in the short term, other investments in Cameroon.

Received in audience on June 23, 2021 by the Head of State Paul Biya who elevated him to the dignity of Commander of the Order of Value for his “successes in Africa and Cameroon”, the richest man of the continent is planning other investments, particularly interested in the production of hydrocarbons.

“We are established in Cameroon a few years ago and we will continue our investments not only in the cement sector, but also in oil and gas and other fields. I think it was a very good meeting with the President of the Republic, “said Aliko Dangote.

If the amount of the investment has not been revealed, the project should take shape in 2022, the Nigerian billionaire having welcomed the improvement in the business climate through the “facilities” offered by the incentives to private investment. This explains his optimism, especially as “this meeting also gave me the opportunity to say thank you to the President, who showed us that he is on the side of the investors. And that encourages us to invest more in Cameroon ”.

The investments underway in the cement sector should make it possible to double the production capacity of Dangote cement Cameroon (DCC), or 3 million tonnes of cement per year. The company, which has created more than 1,000 direct and derivative jobs, controls 38% of the market share after having notably dethroned Cimenteries du Cameroun (Cimencam), a subsidiary of the French group Lafarge-Holcim.

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