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The office of the President of Kenya, released a statement over the weekend, during President Goodluck Jonathan’s state visit to Kenya, that Dangote Group has signed an agreement to build a new cement factory in Kenya that will cost $400 million. The statement, as part of the renewed bilateral relations between Nigeria and Kenya, says, “The decision by Nigerian tycoon Aliko Dangote to invest $400 million in a cement processing plant is an indicator that an exciting journey has begun.” Aliko Dangote described Kenya as a key region in the East African market that provides enormous investment opportunities. “We have realised that if we really want to do something big in East Africa, we must operate in Kenya. We believe that in the next two and half years, we will be the dominant player in cement in Kenya.” Dangote Cement, quoted on the Nigerian Stock Exchange is the largest cement firm in Africa. The Group already said it plans a $5 billion investment across the continent.
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This article was first published on 9th September 2013

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