Dangote acquires 45% stake in South African cement firm
Billionaire Industrialist and CEO of Dangote group, Aliko Dangote.
Nigerian cement supplier Dangote Cement has struck a partnership agreement with a South African cement manuf-acturer, Sephaku Cement. The deal will see Dangote Industries acquiring a 45% minority stake in Sephaku Cement.
“The partnership with Sephaku Cement provides an early entry for the group to the exciting South African cement market with a group of like-minded entrepreneurs. ” said Akilo Dangote
Sephaku is more than 50% black owned by Safika Resources, part of Safika Holdings, and Vuwa Investments, headed by Bulelani Ngcuka. The partnership agreement comes after the company announced that it would list on the JSE in September this year.
Bulelani Ngcuka, Chairman of wholly Black owned South African Investment company, Vuwa Investments.
