Dangote to invest US$ 150m in new cement factory in Yaounde

The Nigerian business magnate, Aliko Dangote, was received by Prime Minister Philemon Yang on Thursday at the Star Building.

150 million US Dollars (about FCFA 88.7 billion) will be invested by the Dangote Group, a Nigerian investment holding, to build a cement factory in Yaounde, after the smooth take-off of its first cement factory in Douala.

Speaking after an audience with the Prime Minister, Head of Government, Philemon Yang, yesterday, July 2, 2015 at the Star Building, the Board Chair and Chief Executive Officer of the Dangote Group, Aliko Dangote, said the investment’s aim will be to “totally eliminate” any future demand increase in cement in the country.

“Cameroon will not lack cement. We can assure the government that we are here to stay and will continue to invest,” stated the Nigerian business mogul to pressmen while his five-man delegation looked on. Assessing his multinational corporation’s investments in Cameroon, Aliko Dangote was full of gratitude to the Head of State, Paul Biya, the Prime Minister and all Ministers involved for assisting him to establish the Douala cement factory whose products are already on the Cameroonian market.

Aliko Dangote said he had a very good meeting with the Prime Minister who promised to continue supporting the group. His company is looking forward to other investment opportunities not only in oil and gas but also in agriculture especially sugar and rice production.

Earlier on, Philemon Yang received outgoing Ambassador of the Republic of Senegal to Cameroon, H.E. Alioune Ndao Fall, who is at the end of his two-year stay in Cameroon.

Besides showcasing achievements of cooperation ties between Cameroon and Senegal particularly in the domains of education, military training, housing, the Senegalese diplomat disclosed that the next Cameroon-Senegal Mixed Commission will hold in two months.