Dangote to Manufacture Cement, Fertiliser in Togo

  • Dangote to Manufacture Cement, Fertiliser in Togo

Dangote Group on Friday announced it has signed new deals with the Togolese government to manufacture fertiliser and build a cement factory in the West African country.

Togo knows for its rich phosphate, usually exports the mineral in its raw form prior to the new deal.

However, with the new deal, Dangote is about to change that narrative. The Group plans to process phosphate into fertiliser in the country and export it to other African nations in a project that will cost at least US$2 billion.

According to the Group, it will help job creation in the small West African country and support revenue generation on a long-term basis.

The second deal signed is the construction of a cement factory estimated to cost about US$60 million.

The company said the construction of the cement factory will commence in the first quarter of 2020 while it should start operating by the end of the same year.

Dangote Cement will be in competition with existing Germany’s Heidelberg Cement, presently operating three companies in Togo, and Fortia Cement.

With the new deal, Dangote Cement is now operating in 15 African countries.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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