• About
  • Advertise
  • Careers
  • Contact Us
Wednesday, June 18, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Mobility
    • Environment
    • Travel
    • StartUPs
  • Economy
  • TECHECONOMY TV
  • TBS
  • About Us
  • Contact Us
  • Telecoms
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Mobility
    • Environment
    • Travel
    • StartUPs
  • Economy
  • TECHECONOMY TV
  • TBS
  • About Us
  • Contact Us
  • Telecoms
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

NGX: Dangote Cement Hits N10tn, Displaces Airtel Africa as Most Capitalised Stock

by Techeconomy
January 23, 2024
in Finance
0
Dangote cement and Airtel africa
Dangote cement vs Airtel Africa

Dangote cement vs Airtel Africa

UBA
Advertisements

Dangote Cement has reached N10tn market capitalisation emerging as the first company to achieve that milestone on the Nigerian Exchange.

This is as billionaire businessman, Femi Otedola, who called the founder of the Dangote Group, Aliko Dangote, his “bestie”, had made a significant acquisition of Dangote Cement shares.

The firm closed trading with a N10.098tn market cap after gaining N917bn, following a 9.99 per cent rise in its stock.

The company closed in 2023 with a market cap worth N5.451tn.

Its share at the close of trading on Monday stood at N590.60 per unit.

This month, it displaced Airtel Africa as the most capitalised stock on the local bourse.

In terms of capital gains, Dangote Cement investors have seen 85.25 per cent appreciation in their investment.

Otedola, explaining his reasoning for buying stakes in Dangote Cement in a statement issued on Monday, said the potential of Dangote Cement to earn foreign exchange as well as its compliance with Environmental, Social, and Governance principles made it an ideal investment for him.

“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice.

“Dangote Cement’s strong corporate governance and impressive ESG compliance track record make it an ideal investment choice. It represents the type of company that not only contributes to Nigeria’s industrial strength but also aligns with my vision for ethical and sustainable business practices,” Otedola stated.

Otedola added that Dangote Cement’s track record of dividend payments and its commitment to sustainable business were major attractions. [Details]

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: Airtel Africadangote cementFemi Otedola
Techeconomy

Techeconomy

Next Post
Student Loan in Nigeria

FG Hints on Deploying Education Tax for Student Loan Scheme

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Fintech for Credit Unions, Kwara Raises $3 million, Partners KUSCCO for more reach

Fintech for Credit Unions, Kwara Raises $3 million, Partners KUSCCO for more reach

2 years ago
Delta Air Lines

Delta Air Lines Appoints Mary Gbobaniyi, As  New Manager for West Africa

9 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2017 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Mobility
      • Environment
      • Travel
      • StartUPs
    • Economy
    • TECHECONOMY TV
    • TBS
    • About Us
    • Contact Us

    © 2017 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.