Dangote Cement Plc has introduced the appointment of Dr. Gbenga Fapohunda as its substantive Group {Financial} Officer, efficient January 1, 2025.
The corporate confirmed this in a company submitting made by way of the Nigerian Change Ltd. on Wednesday.
In an official assertion signed by the Group Managing Director of Dangote Cement, Arvind Pathak, the corporate highlighted Dr. Fapohunda’s intensive experience in finance, gained from over twenty years of expertise within the area.
“We imagine Dr. Fapohunda’s expertise and strategic perception might be very important to Dangote Cement’s ongoing progress and success,” Pathak said.
Dr. Fapohunda’s skilled acumen encompasses {Financial} Management, Threat Administration, Treasury Administration, Funding Administration, Technique Improvement, Company Governance, and Company Finance. His tutorial background is equally spectacular.
A Confirmed Monitor Report in Finance Management
He earned a Doctorate in Strategic Administration from Rome Enterprise College, an MBA in Finance from London Enterprise College, and a B.Sc. in Accounting from the College of Lagos.
He’s a Fellow of the Institute of Chartered Accountants of Nigeria and an Affiliate of a number of skilled our bodies, together with the Institute of Credit score and Threat Administration, Institute of Value Administration Accountants, and the Chartered Institute of Taxation of Nigeria. His stellar contributions to the finance sector have been acknowledged by way of a number of awards.
Earlier than becoming a member of Dangote Cement, Dr. Fapohunda held government finance positions at globally famend corporations. He served as Govt Finance Director (West Africa) at Japan Tobacco Worldwide, Finance Director at United Parcel Service, and Govt Finance Director at British American Tobacco.
Earlier in his profession, he gained priceless expertise working in {financial} advisory at PwC and as a part of the Assurance Staff at KPMG Skilled Companies.
What it is best to know
Dangote Cement Plc reported a revenue earlier than tax of ₦732.537 billion for the fiscal 12 months ending December 31, 2024, reflecting a year-on-year improve of 32.44% in comparison with 2023.
- In keeping with its annual report and {financial} statements reviewed by Nairametrics, the corporate’s full-year income soared by 62.16% YoY to ₦3.581 trillion, pushed primarily by robust gross sales of cement and clinker in Nigeria, which accounted for 57% of the whole income.
- Regardless of rising uncooked materials and gasoline prices—key contributors to the price of gross sales that accounted for over 67% of complete expenditure—the corporate maintained a strong gross revenue margin of 54%.
Nonetheless, promoting, distribution, and administrative bills absorbed 56% of the gross revenue, resulting in a slight decline in its working revenue margin to 32% (down 3.24% in comparison with 2023). Nonetheless, the margin stays strong, demonstrating Dangote Cement’s skill to maintain profitability amidst value pressures.
In alignment with its dividend coverage, the Board of Administrators has really helpful a dividend of ₦30.00 for the 2024 {financial} 12 months, according to the payout for 2023. The Board believes this dividend displays the corporate’s dedication to strategic progress aims whereas reinforcing shareholder confidence.
