Dangote invests in South Africa
Ms. Borha added that the Standard Bank team in Lagos and Johannesburg were delighted to have been able to help put together and invest in the landmark deal, which sees the Dangote Group making the largest ever foreign direct investment by an African company into South Africa. “This transaction goes to the heart of Standard Bank’s core strategy of encouraging investment in infrastructure development in our home market, Africa,” she stated.
Sephaku Cement was established in 2006 and is the first clinker producer in South Africa since 1934. It is an associate company of the Johannesburg Stoke Exchange (JSE)-listed Sephaku Holdings Limited and 64 percent-owned subsidiary of Dangote Cement Plc.
The Dangote group has invested more than US$ 125 million in the venture, representing the largest investment in a South African enterprise by an African company.
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