Building solutions company, Lafarge Africa Plc, has commenced export of cement to Ghana. The company, thus, grew its sales in the third quarter and nine-month period ended September 2017 by 39 per cent and 28 per cent, respectively.

This increase, the company explained in its financial statement, was partly attributed to the export of cement to Ghana.

Stable prices, fuel flexibility and, better logistics and commercial performance increased the company’s earnings before interest, tax, depreciation, and amortisation by four times to N41.7bn with margins stable at 30 per cent.

Commenting on the performance, the Chief Executive Officer, Lafarge Africa, Michel Puchercos, said, “Our company continues to recover since we implemented the turnaround plan in September 2016 and have delivered a good performance even in a challenging market. As of September 2017, the cement demand in Nigeria was significantly lower than prior year.

“Nevertheless, operating EBITDA for our Nigeria operations was up four times at N41.7bn and EBITDA margin stood at 30 per cent, thanks to stable pricing environment, steady industrial operations, fuel flexibility, execution of our commercial and logistics performance improvement plan. We shipped the first batch of cement to the Ghana market, which was well accepted.

“The South African economy exited a recession Q2 2017, supported by secondary and tertiary sectors. Cement revenue was up 30 per cent; supported by stable pricing and the strengthening of the rand against the naira. However, operations were impacted in the quarter by industrial challenges at the Lichtenburg plant.”

Overall, the company said cement demand in Nigeria was expected to close the year lower than the prior year, on account of the economic slowdown in the first half 2017.

SOURCE :https://brandspurng.com/lafarge-commences-export-to-ghana-grows-q3-sales/

Larfarge spreading tentacles.

Good for our economy, meanwhile Something is telling me to stand in front of a soldier and call him a soldier ant.

This company is growing fast..... Nice one

Mrchippychappy:
Lafarge and their useless cements wey no they ever dry properly. Lafarge products are substandard, the Ghanaians shouldn't allow Nigerians flood their country with sub standard products, next thing we would start hearing news of collapsed buildings in Ghana.

It is your type that has made this country the way it is today..... What have u ever produce in ur life ?

hezy4real01:
It is your type that has made this country the way it is today..... What have u ever produce in ur life ?

dont mind the idiot......he will still be the first to rush and buy chinese products.

Good move

Ghana already complaining about Dangote cement importation into the country,currently there is oversupply of cement in Ghana and more supply will lead to a glut in the market

Nigerian manufacturers are greedy ,why not keep the products in Nigeria so as to crash high cost of cement in The country?

I swear that Cement is the one I will always recommend anywhere.

If their own will not accept them because of "powers that be" let their quality product speak for them.

I thought Dangote is already in Ghana? Superb work by LAFARGE

Mrchippychappy:
Lafarge and their useless cements wey no they ever dry properly. Lafarge products are substandard, the Ghanaians shouldn't allow Nigerians flood their country with sub standard products, next thing we would start hearing news of collapsed buildings in Ghana.

Stone fall on your big Head

Mrchippychappy:
Lafarge and their useless cements wey no they ever dry properly. Lafarge products are substandard, the Ghanaians shouldn't allow Nigerians flood their country with sub standard products, next thing we would start hearing news of collapsed buildings in Ghana.

Are you sure of what you are saying?

I have used Lafarge on HUGE projects (not houses, far bigger structures) and I do lab tests on my concrete all the time.

How many times have you tested Lafarge products in the Lab, biko?

.

Chukazu:
Ghana already complaining about Dangote cement importation into the country,currently there is oversupply of cement in Ghana and more supply will lead to a glut in the market

Nigerian manufacturers are greedy ,why not keep the products in Nigeria so as to crash high cost of cement in The country?

.

So that they will start running at a loss and eventually fold up, as if they intentionally increased the price of cement. Na your life dem come live?

Mrchippychappy:
Lafarge and their useless cements wey no they ever dry properly. Lafarge products are substandard, the Ghanaians shouldn't allow Nigerians flood their country with sub standard products, next thing we would start hearing news of collapsed buildings in Ghana.

Don't say what you don't know and mislead others in the process. I have personally been on teams that conducted laboratory tests on various cements produced in Nigeria, and trust me (or the test results, if not me), Lafarge products have always performed very well and even ranked best under certain test parameters.

By the way, collapsed buildings are rarely caused by sub-standard cements but mainly caused by sub-standard practices.

Nice one.... Rest of West African countries watch out

Mrchippychappy:
Lafarge and their useless cements wey no they ever dry properly. Lafarge products are substandard, the Ghanaians shouldn't allow Nigerians flood their country with sub standard products, next thing we would start hearing news of collapsed buildings in Ghana.

Do you really know what you are talking about?. I will advise you to seek more knowledge about all Lafarge products. Or chat me to educate you more. 08068681087 whatsapp

Mrchippychappy:
Lafarge and their useless cements wey no they ever dry properly. Lafarge products are substandard, the Ghanaians shouldn't allow Nigerians flood their country with sub standard products, next thing we would start hearing news of collapsed buildings in Ghana.

Only the best products leaves the shores. Later you will be the one to complain we import everything

hezy4real01:
It is your type that has made this country the way it is today..... What have u ever produce in ur life ?

he had produced hate speach

My only problem with them is the destruction of roads in akpabuyo by their trucks.

hezy4real01:
It is your type that has made this country the way it is today..... What have u ever produce in ur life ?

That foool Mrchippychappy you quoted is one of those Igbos that gives no love or joy but expect to be loved.

Lafarge is a smart company, at least recently. Very good products from 2011 when Elephant Green was the block moulders choice till last year when they decided to buy UNICEM and Ashaka Cem.

Their merger with UNICEM AND ASHAKA enabled them.to.reduce cost of logistics (diesel) from long and tiring trips, from Lagos to North and South East.

They started producing at Calabar and Ashaka Factories saving huge costs in distribution.

Whyem15:
. .

So that they will start running at a loss and eventually fold up, as if they intentionally increased the price of cement. Na your life dem come live?

And that is exactly what is happening in Ghana... cement price in Nigeria is about the highest in World ... that's the life YOU are advocating




"The Ghanaian Ministry of Trade and Industry has announced that it is set to commence investigations into allegations raised by some Ghanaian cement manufacturing companies over Dangote Cement’s operations in the country.

Diamond Cement has been complaining for months of undue competition from Nigeria’s Dangote Cement.

The development is said to have reduced Diamond Cement’s annual production capacity of 1.8 million bags to 1.3 million bags.

The Deputy Communications Manager at the trade ministry, Ahmad Nasir, said the ministry would comply with the recommendations of the Tariff Advisory Board of the ministry mandated to conduct the investigations.

“Diamond cement’s point was that looking at the price of input into the manufacturing of cement, there was no way Dangote could produce in Nigeria, bring goods into Ghana, pay tariffs and still sell at a price lower than theirs. They are suspecting that something fishy was going on,” Ahmad Nasir stated.

“At this stage it is an allegation until it is investigated, no action can be taken, within two weeks or so, this issue should be dealt with,” he added.

News Express reports that there have also been street protests against Dangote Cement in parts of Ghana.

On Thursday, November 26, 2015 some rate youth of Aflao held a street protest against the importation of bagged Dangote Cement from Nigeria.

A report by Ghana’s leading newspaper, The graphic, said that the protesters complained that the importation of the already bagged cement from Nigeria by Dangote was collapsing local cement industries, including Diamond Cement. The protesters called on President John Dramani Mahama to intervene to address the situation.

The report said that the protesters went on a peaceful march from the streets of Denu to the Aflao Customs Park, holding placards with inscriptions such as: ‘Stop the importation of cheap cement’, ‘Mr Minister, please stop this unfair trade practice’, ‘Save Diamond Cement and Ghacem from unfair competition’, ‘Dangote, come and establish a factory in Ghana’, ‘Stop the dumping now’, ‘Ghana Youth need jobs’ and ‘Mr President, Diamond Cement is the only factory left in your World Bank’.

“In a five-page petition to the President and copied to the Volta Regional Minister, the Member of Parliament for the area and the Municipal Chief Executive, the youth lamented that the importation of Dangote Cement was a dangerous economic sabotage which needed to be addressed,” the report said.

It quoted the Spokesperson for the group, Mr Mengistu Agorbia, as saying that the influx of Dangote Cement had resulted in low patronage of Diamond Cement, causing the company to lose about 40 per cent of its income, while Dangote had reported huge profits, citing the importation of its cement to Ghana as the main driving force.

“He said if the trend continued, the youth from the area who worked with Diamond Cement would be laid off, while Dangote continued to create employment for Nigerians,” the report said.