Dangote Cement Hits N10trn Market Cap as Bulls Mimic Otedola’s Moves

Dangote Cement once again had major bullish sentiment bidding its shares up in todays trading as it crossed the N10 trillion market capitalisation mark as its stock closed trading up 9.9%.

Analysts told MoneyCentral investors are following the smart money trade such as the recent big money stake purchase of Dangote Cement shares by Billionaire Femi Otedola, with over 1.29 billion shares traded today by volume.

“They see what he did with Transcorp, how he moved FBN Holdings much higher after years of the shares stagnating, and don’t want to be left behind on the Dangote Cement train,” one buy side analyst with a major Pension Fund told MoneyCentral.

Otedola, a distinguished Nigerian entrepreneur and investor, has announced a significant acquisition of shares in Dangote Cement, the only cement company in Nigeria with two export terminals, with a combined export capacity of 8 million tons per annum.

The strategic investment underscores Otedola’s confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.

As Sub-Saharan Africa’s largest cement producer, Dangote Cement boasts an annual production capacity of 51.6 million tons across ten countries.

“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice,” said Otedola.

Dangote Cement’s track record of dividend payments, exceeding N2.1 trillion in recent years, and its commitment to sustainable business practices resonate with these principles. Otedola’s investment strategy prioritizes companies that are well-managed, have strong governance, and operate under the principle that no individual should be larger than the company.

“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” Otedola stated.

“Companies like Dangote Cement, which consistently deliver value to their shareholders, are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses that prioritize their shareholders.”

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