Lafarge Africa Plc shareholders should reap from the company’s consolidation of African businesses as its Board of Directors is expected to propose a dividend of N16 billion at its forthcoming AGM.
The company’s current production capacity has grown from 4.5 million tons to 12 million tons.
In addition, 3.5 million cubic metres of ReadyMix concrete and over 5.0 million tons of Aggregates have been added to the portfolio. The improvement shows that the company’s consolidation has been a success.
Lafarge Africa Plc was renamed following the consolidation of Lafarge SA indirect assets in Nigeria and South Africa into the erstwhile Lafarge Cement WAPCO Nigeria Plc.
Lafarge S.A. of France, controls 72.74% of Lafarge Africa the remaining 27.26% is held by Nigerian and foreign, institutional and individual investors. Lafarge S.A. of France is a world leader in building materials with a presence in 62 countries across the Globe. Consequently, Lafarge Africa is able to take advantage of and benefit from Lafarge S.A.’s management and technical expertise.
Mobolaji Balogun will become chairman from May 23. He is CEO of Chapel Hill Denham, a leading independent investment bank in Nigeria and a Director of Lafarge Africa Plc and NAHCO Aviance Plc.
