Latest news with #DangoteSugarRefineryPlc
Business Insider
3 days ago
- Business
- Business Insider
Africa's richest man, Aliko Dangote steps down from one of his major establishments
Aliko Dangote will retire as Chairman of the Board of Dangote Sugar Refinery Plc on June 16, 2025, marking the end of two decades of leadership at one of Nigeria's most significant corporations. Aliko Dangote will retire as Chairman of Dangote Sugar Refinery Plc on June 16, 2025, concluding over two decades of leadership. Under his tenure, Dangote Sugar became a major entity in Nigeria's food industry, achieving significant expansions and projects. The Board acknowledged his contribution to advancing domestic sugar production through back integration initiatives in several Nigerian states. The declaration was made on Wednesday in a statement signed by Temitope Hassan, the company's secretary. 'In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors of the Company, Alhaji Aliko Dangote (GCON), effective June 16, 2025,' the statement read. Dangote, who founded the company in 2005 as one of the Dangote Group's primary subsidiaries, played a crucial role in developing the business into the dominant player in Nigeria's food sector. Dangote Sugar, under his leadership, completed large expansion projects and grew the company into a major pan-African enterprise. As per the statement, the corporation undertook important Backward Integration Projects in Adamawa, Taraba, and Nasarawa States under his direction in order to boost domestic sugar output and lessen reliance on imports. To facilitate a smooth transition, the Board has selected Arnold Ekpe, an independent non-executive director, as the next chairman. Ekpe has extensive expertise in the post, having held executive roles in many African banking and industrial enterprises, as seen in the Punch. His appointment represents continuity and stability as the corporation navigates its next chapter of expansion beyond Dangote's legacy. 'Following a rigorous selection and transition process, the Board is pleased to announce the appointment of Mr. Arnold Ekpe, Independent Non-Executive Director, as the new Chairman of Dangote Sugar Refinery Plc. effective 16th June 2025,' the statement reads. 'We welcome Mr. Ekpe to his new role and look forward to the next chapter in our Company's journey under his leadership. We also express our deep appreciation to Alhaji Aliko Dangote for his years of exemplary service and unwavering commitment to excellence,' it added,
Business Insider
06-05-2025
- Business
- Business Insider
Dangote ventures into Ghana with $162 million sugar refinery to boost local industry
The project, led by Dangote Sugar Refinery Plc, marks a bold move to tap into Ghana's $162 million annual sugar import market while supporting the government's "One District, One Factory" industrialization policy. The state-of-the-art facility will have a capacity of 12,000 tons of sugarcane per day and will be supported by a 25,000-hectare irrigated plantation. In addition to refined sugar, the plant will also produce high-value by-products such as molasses and ethanol, creating opportunities in the agro-processing and biofuel sectors. In a LinkedIn post, the Dangote Group described the project as more than just a factory, calling it "a catalyst for self-sufficiency, employment, and continental transformation." A company source also confirmed to Africa Briefing that land has already been identified and agreements are in the pipeline. Ghana has historically relied on imports to meet its sugar needs. However, with growing concerns about food security and the volatility of global supply chains, the new refinery could mark a turning point. Dangote's entry is expected to create jobs, boost rural development and introduce advanced technology in sugar processing. The Bono East region, long underserved by industrial investment, could benefit from the initiative. The expansion is also part of Dangote's broader goal to expand integrated agriculture across Africa. Its Nigerian operation is already the country's largest sugar producer, with a crushing capacity of 1.44 million tonnes. For the quarter ended March 31, 2025, Dangote Sugar Refinery Plc reported a 74.3% increase in revenue to N213.9 billion ($133.2 million), compared with N122.7 billion a year earlier. Net loss narrowed to N23.6 billion ($14.7 million), reflecting improved operating efficiency and robust demand. Dangote's Ghana project marks a strategic expansion into West Africa at the right time and is in line with the AfCFTA's broader agenda of deepening regional integration. It reinforces efforts to boost intra-African trade, reduce import dependence, and build resilient, indigenous value chains in key sectors.
