Dangote buys shares in a brewing company in Cameroon
- Source:: Apanews | July 03, 2017 at 16:07:38 | Read 1859 times | 2 Reviews
Dangote buys shares in a brewing company in Cameroon
Nigerian multi billionaire Aliko Dangote has bought shares in the capital of Cameroon's Union of Breweries (UCB), enabling the company to return to power in this sector of activity, it was learned Monday from sources concordantes.
After having built a cement plant in Douala Dangote Cement Cameroon (DCC) for more than 55 billion CFA francs for an annual production of 1.5 million tons, this investor intends to build another cement plant next year In Yaounde, the capital, took shares in the UCB, owned by the Cameroonian industrialist Joseph Kadji Defosso.
A presence that raised the capital of the UCB from 2.9 billion CFA francs to 25 billion CFA francs.
While it is true that the shareholders of the UCB have not yet published the shares of shares held by Dangote, the 2016 activity report of the Société des brasseries du Cameroun (SABC), owned by the French group Castel and Leader in the brewing sector with 74% of the market share, says more.
"UCB, which has capitalized on Dangote, has continued to communicate on the quality of its products and has continued its cyclical and ongoing program of promotional capsules on Kadji Beer in general and on the King Beer of Intermittent in some areas, "says the SABC report.
In addition, it is said that this alliance with Dangote enabled UCB to achieve sales growth of 31% in 2016 with a volume of 620 000 hl against 470 000 hl of beer in 2015.
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