March 31, 2011
Dangote Group says plans are underway for the listing of it’s cement company on the London Stock Exchange (LSE) by December
Dangote cement hit 12.3bn dollars market value in mid-March, making it the largest company in the West African sub-region.
Mr. Joseph Makoju, Special Adviser to the President of the Dangote Group, Aliko Dangote, disclosed this at the ongoing Business Forum tagged: “Making Nigeria Your Goal”, organised by the UK Trade and Investment in London.
“The proposed listing of Dangote Cement Plc on the London Stock Exchange (LSE) will provide foreign investors with an excellent opportunity to invest in Nigeria,’’ the News Agency of Nigeria (NAN) quoted Makoju as saying.
Makoju explained the success story of the Group, including its investment profile in Africa and urged UK investors to consider Nigeria as a preferred destination with one of the highest rates of returns in the world.
“The reality of the Nigeria Business Environment is by far better than its perception; doing business in Nigeria can be challenging but it is also quite rewarding,“ he stressed.
Earlier, the Director UKTI Lagos, Mr Peter Stephenson, while commenting on the preparations for the forthcoming elections, described the voter registration as a huge success and a sound basis for credible elections in Nigeria.
He said UK’s target was to double within the next five years, the current volume of trade with Nigeria estimated at about 3 million Pounds.
This, according to him, is in line with the objective of commercial diplomacy being pursued by the government in the UK.
He explained that the event demonstrated that Nigeria was “flourishing and wide open for business’’.
“I urge UK firms that are serious about growing their businesses internationally to consider this market and the wealth of opportunities it presents,’’ Stephenson said.
Participants at the two-day forum were drawn from the organised private sector in Nigeria, including the Lagos Chamber of Commerce and Industry, UK businesses, the banking sector as well as the Nigerian High Commission.