Dangote Sugar |

Africa’s Richest Man Invests $4.6 Billion in Nigeria Farming

LAGOS (Capital Markets in Africa) – Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria. The conglomerate plans to increase its production of sugar to 1.5 million metric tons a year by 2020 from 100,000 tons now and is…

Dangote $700 Million Deal to Meet Third of Nigeria’s Sugar Needs

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A Dangote Industries Ltd. subsidiary will invest $700 million in a central Nigerian project that seeks to produce almost a third of the sugar consumed in Africa’s most populous nation. Tunga Sugar project, in the central state of Nasarawa, will be made up of a 60,000-hectare (148,260-acre) plantation and two factories with combined capacity of 430,000 metric tons of refined white sugar, Dangote Group’s president, Aliko Dangote, said in a…

DANGOTE SUGAR RELEASES FULL YEAR 2015 RESULTS – FIRST TAKE

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa — Dangote Sugar Refinery (DSR) (BUY. TP: N8.77) released its full year 2015 results yesterday. Revenue came in higher than our forecast, up 6.5% YoY to N101.1 billion (PAFR 2015E: N97.7 billion) while earnings were in line with our estimates with PBT up 8.3% YoY to N16.5 billion (PAFR 2015E: N17.1 billion) and PAT flat at N11.5 billion (PAFR 2015E: N11.3 billion). The top-line beat was on a stronger…