Dangote Group posts record tax payment and eyes $46 bn Tanzania investment

Dangote Cement Plc, Nigeria's largest cement producer, reported a corporate tax charge of N97 billion for the 2020 financial year, nearly double the N50 billion paid in 2019. The company also posted a 49 % rise in Pan‑African EBITDA to N71.3 billion, a 12.9 % increase in cement and clinker sales to 15.9 Mt, and a 59 % EBITDA margin. CEO Michel Puchercos said 2020 was a good year, citing new capacity, export terminals and a gas power plant in Tanzania.

Aliko Dangote, President and CEO of the Dangote Group, announced the conglomerate’s intention to invest up to $46 billion in Tanzania by 2030 across strategic sectors, including energy. Speaking with a Tanzanian delegation, he praised recent reforms under President Samia Suluhu Hassan and reaffirmed commitment to the country’s industrialisation drive, stating “Tanzania is a country with enormous investment potential…”.