Dangote Cement launches new N150 billion Commercial Paper programme

Dangote Cement Plc, Africa’s largest cement producer, has announced the launching of a new N150 billion Commercial Paper (CP) programme.

This is according to a notice signed by the company’s secretary, Edward Imoedemhe, and sent to the Nigerian Exchange Limited (NGX).

According to the disclosure, the new CP programme combined with an existing N300 billion multi-instrument issuance Bond programme will help broaden the firm’s funding sources and further ease access to capital market funding.

In addition, the cement manufacturing giant stated that the new commercial paper will be used to match working capital requirements and meet up with general corporate obligations.

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