Dangote Cement earns over $85 mln income in concluded Ethiopian Fiscal Year

Addis Ababa, September 12, 2017 (FBC) – Dangote Cement PLC earned over 85.8 million US dollars (at (current exchange rate) income from its Ethiopia plant in the concluded Ethiopian Fiscal Year (2016/17) that ended on July 8.

The revenue was secured from the export of more than 2 million tonnes of cement, Tariku Alemayehu, sales and marketing deputy manager at the company told FBC.

More than one million US dollars of the total income was obtained from the export to Kenya and Djibouti, he said.

Dangote’s Ethiopia plant is the second top earner of all the plants controlled by Africa's richest man, Aliko Dangote, next to his plant in Nigeria. 

As part of the efforts to boost its income, the company has built cement-bag manufacturing plant, which could manufacture 120 million bags annually, at a cost of more than 21.5 million US dollars.

The bag factor could create 300-500 jobs.

Translated and posted by Amare Asrat