| Dubai’s sovereign-wealth fund said on Monday it is buying a minority stake in Nigeria’s Dangote Cement for $300 million as the Gulf emirate makes it first major investment in Africa’s largest economy.
Dangote Cement, which is listed on the Nigeria Stock Exchange and has a market value of around $23 billion, was founded and is still controlled by Nigerian business magnate Aliko Dangote. It is a leader in its domestic market and plans to nearly double production capacity by 2018 and expand abroad with new plants scheduled in South Africa, Senegal, Zambia, Cameroon and Sierra Leone...............................................Full Article: Source |