Africa & The Middle East

African Investor has named Ahmed Heikal, Chairman and Founder of Qalaa Holdings, which owns ASEC Cement, African Business Leader of the Year.

Qalaa Holdings, which owns ASEC Cement, has signed up to the world’s largest voluntary corporate social responsibility initiative.

Raysut Cement has recorded an increase in profits for the third quarter, while Oman Cement, which has recently completed an upgrade project on line 1, reported a decline in profits for the period.

South Africa’s Competition Commission has granted approval for the LafargeHolcim merger on the condition that Holcim divests its stake in Afrisam.

PPC Ltd has entered into a partnership with the North West and Limpopo provinces and the Roads Agency Limpopo to upgrade an 82 km stretch of road.

Aliko Dangote is planning to invest an undisclosed sum in the development of the Mbinga coal mine in southwest Tanzania.

Cement importers and domestic producers have assured Cameroon’s government of a constant supply of cement for the remaining three months of 2014.

The value of cement imports into Algeria increased by 31% y/y to US$373.5 million in the first eight months of the year.

The Federal High Court has prevented the Standards Organisation of Nigeria from closing the facilities of Lafarge Cement WAPCO Nigeria Plc over failure to meet new directives pending a hearing.

Following the announcement in August that Donaldson planned to purchase the UAE’s Northern Technical L.L.C, the company has now confirmed that the acquisition has been completed.

Ghana Cement Company says that the appreciation of the local currency would help bring down cement prices, though power shortages are still an issue.

According to reports, Lafarge has temporarily halted operations at its cement plant in Syria in light of security concerns for its staff.

Local media is reporting that Benue State, Nigeria, is selling 30 million shares in Dangote Cement and plans to sell its total shareholding of 90 million shares.

The board of directors has approved the acquisition of a 100% stake in BMM Cements Limited.

Local reports suggest that the Federal High Court of Nigeria has urged the Standards Organisation of Nigeria to stay action pending a hearing.