Chinwendu Obienyi
Africa’s largest listed company on the Nigerian Stock Exchange (NSE), Dangote Cement Plc (DCP) has released its 2019 Dangote Cement Sustainability Report, outlining its sustainability initiatives, activities and achievements during the 2019 financial year.
In a related development, the company said its outlook for 2020 remains positive while adding that it is on track to becoming Africa’s largest cement producer.
Speaking at the launch of the report yesterday via a virtual platform at the ‘Facts Behind the Figures and Sustainability Report’ (FBSR), an interactive forum created by the NSE to further promote Environmental, Social and Governance (ESG) performance and reporting among listed companies in Nigeria, Chief Executive Officer, the exchange, Oscar Onyema, while commending the board and management of DCP, said, the NSE has continued to remain resilient even in the face of the COVID-19 pandemic while leveraging digital platforms to disseminate information to the investing community.
“Better ESG reporting is key to strengthening capital markets and achieving a sustainable global economy. At the NSE, we believe that promoting transparency will help listed companies access sustainable capital in playing its role in Sustainable Development Goals (SDGs). The NSE will continue to position itself as African exchange of choice by incorporating policies that provide investors with an alignment”, Onyema said.
Responding, Chief Executive Officer, Dangote Cement, Michel Puchercos, stated that the COVID-19 pandemic has had a great impact on the global economy and added that the company has continued placing emphasis on health by implementing safety protocols for its staff. Puchercos noted that the company was fortunate to have a decent outing in its H1 2020 financial results despite the operating environment while adding that $1.9 billion has been spent to cushion the COVID-19 pandemic.
He announced the successful issuance of N100 billion Series 1 Fixed Rate Senior Unsecured Bonds due April 2025 under the company’s N300 billion Bond Programme. According to him, the transaction was 1.5 times oversubscribed and represents Dangote Cement’s debut bond issuance in the debt capital markets.