With infrastructure and urban growth accelerating across Africa, the usefulness of a humble building material like cement cannot be underestimated.
A recent $300 million investment by sovereign fund Investment Corporation of Dubai (ICD) into Nigeria’s largest publicly-traded company, Dangote Cement, underscores the sector’s growing importance on the continent.
“The average cement consumption in most of the region is currently low, and the process of catching up to international averages will facilitate future industry growth,” said Tom Harris, industrial automation and process control research analyst with Frost & Sullivan Africa..
Between population growth, urbanisation, housing development, and rising political stability, the firm expects cement consumption “to grow at a multiple of GDP over the next five to ten years.”
Headwinds notwithstanding, for the continent’s major cement producers, including rising star Dangote, numbers like these can only herald opportunity.
Written by Anna B. Wroblewska, for the full article go to: http://afkinsider.com/74842/cement-next-hot-industry-africa/
