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Chapel Hill Denham, an investment banking firm, has ranked Nigeria’s cement giants, Dangote Cement and BUA Cement as the two biggest cement companies in Africa by market capitalization.
Market capitalization refers to the total value of a company’s shares of stock. It is calculated by multiplying the price of a stock by its total number of outstanding shares.
In a new report posted on its website, Chapel Hill Denham noted that Dangote Cement retained its position as the biggest cement maker in Africa with a market cap of $9.7 billion at the close of trading on Friday.
BUA Cement on the other hand has a market capitalization of $4.07 billion as of 2:00 p.m. on August 24 in Lagos.
Since BUA Cement was listed as a public firm with a market capitalization of $3.30 billion on January 9, 2020, the company has completed a merger of two strategic subsidiaries.
READ ALSO: Dangote, BUA to benefit from CBN’s $73 million sugar fund
The development has transformed the companies owned by billionaire businessman, Abdul Samad Rabiu, into one of the biggest entities in Nigeria.
Also listed in the report are two Moroccan cement makers – 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 from South Africa ($261 million).
Others are Tanzania’s Portland Cement CO ($295 million), Carthage Cement of Tunisia ($180 million), Bamburi Cement Limited from Kenya ($116 million) and Egypt’s pair of Arabian Cement Company ($87 million), and Misr Beni Suef Cement ($105 million).
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