Chapel Hill Denham, an investment bank, has ranked Nigerian cement giants Dangote Cement and BUA Cement as the two largest cement companies in Africa by market capitalization.
Market capitalization refers to the total value of a company’s shares. It is calculated by multiplying the price of a share by its total number of shares outstanding.
In a new report published on its website, Chapel Hill Denham noted that Dangote Cement retained its position as the largest cement producer in Africa with a market capitalization of $9.7 billion at the close of trading on Friday.
BUA Cement, on the other hand, has a market cap of $4.07 billion as of 2:00 p.m. on August 24 in Lagos.
Since BUA Cement went public with a market capitalization of $3.30 billion on January 9, 2020, the company has completed the merger of two strategic subsidiaries.
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The development has transformed the companies owned by billionaire businessman, Abdul Samad Rabiu, into one of the largest entities in Nigeria.
Also listed in the report are two Moroccan cement companies – Lafarge Holcim Marocsa ($4.01 billion) and Ciments du Maroc ($2.22 billion) as well as Nigeria’s Lafarge Africa Plc ($905 million) and PPC Limited d South Africa ($261 million).
Others are Tanzania’s Portland Cement CO ($295 million), Tunisia’s Carthage Cement ($180 million), Kenya’s Bamburi Cement Limited ($116 million) and the Egyptian pair of Arabian Cement Company ( $87 million) and Misr Beni Suef Cement ($105 million).
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