{"id":18502,"date":"2021-01-01T00:37:10","date_gmt":"2021-01-01T06:37:10","guid":{"rendered":"https:\/\/myboysay.com\/blog\/?p=18502"},"modified":"2021-01-01T00:37:10","modified_gmt":"2021-01-01T06:37:10","slug":"dangote-cement-market-capitalization-increased-by-28-in-november-2020-to-cross-n3-trillion-mark-in-november-how-aliko-dangote-became-the-richest-person-in-africa","status":"publish","type":"post","link":"https:\/\/myboysay.com\/blog\/?p=18502","title":{"rendered":"Dangote Cement market capitalization increased by 28% in november 2020, to cross N3 trillion mark in November, How Aliko Dangote Became the Richest Person in Africa"},"content":{"rendered":"<div id=\"mvp-site\" class=\"left relative\">\n<div id=\"mvp-site-wall\" class=\"left relative\">\n<div id=\"mvp-site-main\" class=\"left relative\">\n<div id=\"mvp-main-body-wrap\" class=\"left relative\">\n<article id=\"mvp-article-wrap\">\n<div id=\"mvp-article-cont\" class=\"left relative\">\n<div class=\"mvp-main-box\">\n<div id=\"mvp-post-main\" class=\"left relative\">\n<div class=\"mvp-post-main-out left relative\">\n<div class=\"mvp-post-main-in\">\n<div id=\"mvp-post-content\" class=\"left relative\">\n<header id=\"mvp-post-head\" class=\"left relative\">\n<div id=\"mvp-site\" class=\"left relative\">\n<div id=\"mvp-site-wall\" class=\"left relative\">\n<div id=\"mvp-site-main\" class=\"left relative\">\n<div id=\"mvp-main-body-wrap\" class=\"left relative\">\n<article id=\"mvp-article-wrap\">\n<div id=\"mvp-article-cont\" class=\"left relative\">\n<div class=\"mvp-main-box\">\n<div id=\"mvp-post-main\" class=\"left relative\">\n<div class=\"mvp-post-main-out left relative\">\n<div class=\"mvp-post-main-in\">\n<div id=\"mvp-post-content\" class=\"left relative\">\n<header id=\"mvp-post-head\" class=\"left relative\">\n<h1 class=\"mvp-post-title left entry-title\"><strong>Dangote Cement market capitalization increased by 28% to cross N3 trillion mark in November<\/strong><\/h1>\n<\/header>\n<div id=\"mvp-post-feat-img\" class=\"left relative mvp-post-feat-img-wide2\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"attachment- size- wp-post-image jetpack-lazy-image jetpack-lazy-image--handled\" src=\"https:\/\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg\" sizes=\"(max-width: 900px) 100vw, 900px\" srcset=\"https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?w=900&amp;ssl=1 900w, https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?resize=601%2C400&amp;ssl=1 601w, https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?resize=768%2C511&amp;ssl=1 768w, https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?resize=846%2C563&amp;ssl=1 846w\" alt=\"Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director\" width=\"900\" height=\"599\" data-lazy-loaded=\"1\" \/><\/strong><\/div>\n<div id=\"mvp-content-wrap\" class=\"left relative\">\n<div class=\"mvp-post-soc-out right relative\">\n<div class=\"mvp-post-soc-in\">\n<div id=\"mvp-content-body\" class=\"left relative\">\n<div id=\"mvp-content-body-top\" class=\"left relative\">\n<div id=\"mvp-content-main\" class=\"left relative\">\n<div id=\"tps_slideContainer_273323\" class=\"theiaPostSlider_slides\">\n<div class=\"theiaPostSlider_preloadedSlide\">\n<p><strong>The market capitalization of Dangote Cement Plc increased from N2.73 trillion at the open of trade on the 2nd of November 2020, to N3.49 trillion at the close of trade on the 30th of November.<\/strong><\/p>\n<p><strong>Further checks revealed that the market capitalization of Dangote Cement Plc increased by 28.13% during the period under review.<\/strong><\/p>\n<div class=\"code-block code-block-6 ai-viewport-1 ai-viewport-2\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-13701\" src=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/nintchdbpict000005133163-DANGOTE-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/nintchdbpict000005133163-DANGOTE-300x200.jpg 300w, https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/nintchdbpict000005133163-DANGOTE-768x511.jpg 768w, https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/nintchdbpict000005133163-DANGOTE.jpg 960w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div>\n<h3><strong>The drive behind the gains<\/strong><\/h3>\n<p><strong>It is important to note that the increase in Dangote Cement\u2019s market capitalization was driven by the renewed buying interests by investors in key Nigerian stocks with huge values and impressive fundamentals.<\/strong><\/p>\n<p><strong>This hunt for value on the bourse led to a wild increase in the<a href=\"http:\/\/www.nse.com.ng\/Issuers-section\/listed-securities\/company-details?symbol=DANGCEM\"> share price<\/a> and also the market capitalization of key companies on the Nigerian Stock Exchange in the month of November.<\/strong><\/p>\n<p><strong>However, the renewed buying interest can be attributed to the strong performance which Dangote Cement displayed in the third quarter of 2020, despite the challenging macroeconomic environment.<\/strong><\/p>\n<p><strong>Given the strategic positioning of the cement producer in the industry,<\/strong><\/p>\n<ul>\n<li><strong>Dangote cement reached a record high EBITDA <a href=\"https:\/\/nairametrics.com\/2020\/11\/06\/real-estate-investment-and-infrastructure-spending-drove-our-profits-up-dangote-cement\/\">margin<\/a> of 24% in the third quarter of 2020.<\/strong><\/li>\n<li><strong>Group net profit of N82 billion, which is 135.1% higher than the profit reported by the Group in the third quarter of 2019.<\/strong><\/li>\n<\/ul>\n<p><strong>This strong performance made analyst review their models, and also the Group\u2019s valuation, this however triggered buying pressures in the shares of Dangote Cement, with its market capitalization increasing by 28.13% in the period under consideration.<\/strong><\/p>\n<h3><strong>What you should know<\/strong><\/h3>\n<ul>\n<li><strong>Market capitalization is the aggregate valuation of a company based on its current share price and the total number of outstanding stocks.<\/strong><\/li>\n<li><strong>Market capitalization tells how much investors value a company, and gives an idea of what a company is worth on the stock exchange, as well as investors\u2019 perception of a company\u2019s future prospectus.<\/strong><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"mvp-post-add-box\">\n<div id=\"mvp-post-add-wrap\" class=\"left relative\">\n<div class=\"mvp-post-add-story left relative\">\n<div class=\"mvp-post-add-body left relative\">\n<div class=\"mvp-post-add-cont left relative\">\n<div class=\"mvp-post-add-main right relative\">\n<div id=\"tps_slideContainer_279655\" class=\"theiaPostSlider_slides\">\n<div class=\"theiaPostSlider_preloadedSlide\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mvp-post-add-story left relative\">\n<div id=\"attachment_13709\" style=\"width: 310px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-13709\" class=\"size-medium wp-image-13709\" src=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/Dangote-Lagos-refinery-all-set-in-2017-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/Dangote-Lagos-refinery-all-set-in-2017-300x200.jpg 300w, https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/Dangote-Lagos-refinery-all-set-in-2017.jpg 400w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-13709\" class=\"wp-caption-text\"><strong>Dangote Lagos refinery all set in 2017<\/strong><\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h1 class=\"mvp-post-title left entry-title\"><strong>Understanding the Dangote Cement share buyback<\/strong><\/h1>\n<p><strong>Dangote Cement made headlines recently with news of its share buyback, but how well do you understand the concept?<\/strong><\/p>\n<div class=\"mvp-author-info-wrap left relative\">\n<div class=\"mvp-author-info-text left relative\">\n<div class=\"mvp-author-info-name left relative\"><\/div>\n<\/div>\n<\/div>\n<\/header>\n<div id=\"mvp-post-feat-img\" class=\"left relative mvp-post-feat-img-wide2\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"attachment- size- wp-post-image jetpack-lazy-image jetpack-lazy-image--handled\" src=\"https:\/\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg\" sizes=\"(max-width: 900px) 100vw, 900px\" srcset=\"https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?w=900&amp;ssl=1 900w, https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?resize=601%2C400&amp;ssl=1 601w, https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?resize=768%2C511&amp;ssl=1 768w, https:\/\/i1.wp.com\/nairametrics.com\/wp-content\/uploads\/2020\/07\/Dangote-Cement.jpg?resize=846%2C563&amp;ssl=1 846w\" alt=\"Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director\" width=\"900\" height=\"599\" data-lazy-loaded=\"1\" \/><\/strong><\/div>\n<div id=\"mvp-content-wrap\" class=\"left relative\">\n<div class=\"mvp-post-soc-out right relative\">\n<div class=\"mvp-post-soc-in\">\n<div id=\"mvp-content-body\" class=\"left relative\">\n<div id=\"mvp-content-body-top\" class=\"left relative\">\n<div id=\"mvp-content-main\" class=\"left relative\">\n<div id=\"tps_slideContainer_281250\" class=\"theiaPostSlider_slides\">\n<div class=\"theiaPostSlider_preloadedSlide\">\n<p><strong>Dangote Cement Plc (DCP), Nigeria\u2019s most capitalized stock, announced it will buy back up to 10% of her issued 10.04billion ordinary shares on December 30.<\/strong><\/p>\n<p><strong>Dangote says these shares bought back will be held as Treasury Shares and subsequently canceled.<\/strong><\/p>\n<h3><strong>Ok, what\u2019s Dangote GOAL?<\/strong><\/h3>\n<p><strong>It is called a Share Buy-Back (SBB). The process of an SBB involves the company buying back her issued shares from shareholders at market prices, in effect the company is investing in itself.<\/strong><\/p>\n<p><strong>The company accomplishes this by utilizing her assets to exchange for shares from investors. Assets could be cash in the company\u2019s bank account or even fixed assets that can be sold to fund the purchase.<\/strong><\/p>\n<h3><strong>Is this a good legal manuver?<\/strong><\/h3>\n<p><strong>Yes, Section 161 of the Corporate and Allied Matters Act lays out the process for a company to execute an SBB, also Rule 398 (3)(xiv) of the Securities and Exchange Commission\u2019s Rules and Regulations with Rule 13.18 of the Rulebook of The Nigerian Stock Exchange gives Regulatory backing to this action<\/strong><\/p>\n<h3><strong>Why a Share Buyback<\/strong><\/h3>\n<p><strong>A share buyback improves the financial statements of the company by boosting Shareholder Equity and Return on Assets. The SBB does this by decreasing the number of shares on the stock markets, which then boost reported earnings per share.<\/strong><\/p>\n<p><strong>When a company buys shares, those shares cannot be traded on anymore, essentially those shares are extinguished which then increases the price per existing share.<\/strong><\/p>\n<p><strong>Look at it this way, a company that has five company cars bought with a loan must buy gas every month, budget is N50,000 or N10,000 per car. What happens if the company decided to use the cash in their bank account, pay off the one car loan 100%<\/strong><\/p>\n<h3><strong>Two things will happen<\/strong><\/h3>\n<ol>\n<li><strong>There will only be four cars, which means the N50,000 will be divided by 4 not 5, meaning each car gets 12,500 not 10,000.<\/strong><\/li>\n<li><strong>The company\u2019s cash position will reduce because it took cash from her bank account to pay off the loan<\/strong><br \/>\n<strong>If you think of those cars as shareholders and the budget for fuel as dividends, you can see that when the company takes its assets and reduces the number of shareholders, then the shareholders left will get a large share of dividends.<\/strong><\/li>\n<\/ol>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-13706\" src=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/aliko-dangote-300x225.png\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/aliko-dangote-300x225.png 300w, https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/aliko-dangote.png 480w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p><strong>Also, instead of the company buying new tires for 5 cars, it will only buy tires for 4 cars, this cost reduction improves Earnings per Share and the Price Earnings Ratio.<\/strong><\/p>\n<p><strong>That is why SBB tends to make the market share price go up because investors can project a bump in share prices, again note, even if revenues stay the same.<\/strong><\/p>\n<p><strong>However, shares shall only be purchased out of profits of the company, which would otherwise be available for a dividend.<\/strong><\/p>\n<p><strong>So, share buybacks are a form of dividend payment to existing shareholders because going forward they get a larger share, even if profits stay the same.<\/strong><\/p>\n<h3><strong>There are three reasons a company buys back its shares<\/strong><\/h3>\n<p><strong>The company believes her share price is too cheap. To measure cheap, I will relate DCP market price to earnings or the PE Ratio, DCP is trading at PE of 16, its competition WAPCO is trading at 17, the overall Nigeran Stock market is trading at 14.66.<\/strong><\/p>\n<p><strong>A company can also wish to improve its financial ratios. Dangote EPS (TTM) is about 14.94 and easily beats WAPCO her nearest competitor that posts an EPS of 1.28 (TTM). Again Dangote does well.<\/strong><\/p>\n<p><strong>Another key reason for a company to do a share buyback is if it has sufficient reserves or cash and can see no other viable options. In this instance, Dangote does carry far more debt on her books than WAPCO.<\/strong><\/p>\n<p><strong>DCP Debt to Equity Is 0.56 compared to 0.15 for WAPCO, Dangote Debt is about N271.33b. The argument can be made as to why DCP cannot utilize the cash for the buyback to pay off debt.<\/strong><\/p>\n<p><strong>However, in closing, keep in mind the tax treatment of Share Buy Backs to the Company, there is no effect; but to the holders of Dangote stock, they are taxed differently (lower) on dividends received because these dividends have already been taxed as part of company profits.<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-13699\" src=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/ALIKO-DANGOTE-300x224.jpg\" alt=\"\" width=\"300\" height=\"224\" srcset=\"https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/ALIKO-DANGOTE-300x224.jpg 300w, https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/ALIKO-DANGOTE-768x574.jpg 768w, https:\/\/myboysay.com\/blog\/wp-content\/uploads\/2017\/10\/ALIKO-DANGOTE.jpg 960w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p><strong>WHO IS ALIKO DANGOTE<\/strong><\/p>\n<section class=\"dangote-details\">\n<div class=\"container\">\n<div class=\"row\">\n<div class=\"col-md-6 align-self-center\">\n<h1>Aliko Dangote, GCON<\/h1>\n<h2>President &amp; Chief Executive<\/h2>\n<hr \/>\n<p><strong>Aliko Dangote is the founder and president\/chief executive of the Dangote Group, the largest conglomerate in West Africa. The Group currently has a presence in 17 African countries and is a market leader in cement on the continent. One of the Group&#8217;s subsidiaries, Dangote Cement Plc, is the largest listed company in West Africa and the first Nigerian company to join the Forbes Global 2000 Companies list.<\/strong><\/p>\n<p><strong>The Group has diversified into other sectors of the Nigerian economy including agriculture and is currently constructing the largest petroleum refinery, petrochemical plant and fertilizer complex in Africa.<\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"row\">\n<div class=\"col-md-12\">\n<h3>Internationally, Dangote sits on the board of the Corporate Council on Africa and is a member of the Steering Committee of the United Nations Secretary-General&#8217;s Global Education First Initiative, the Clinton Global Initiative, the McKinsey Advisory Council, and the International Business Council of the World Economic Forum. He was named Co-chair of the US-Africa Business Center, in September 2016, by the US Chamber of Commerce. In April 2017, he joined the Board of Directors of the Clinton Health Access Initiative, which is helping countries build the systems necessary to provide health services to their people.<\/h3>\n<h3>A dedicated philanthropist, Dangote made an initial endowment of $1.25 billion to the Dangote Foundation in March 2014, enabling it to scale up its work in health, education and economic empowerment. In addition, he is collaborating with the Bill and Melinda Gates Foundation to fight polio. He is also on the Board of ONE, the anti-poverty group, co-founded by Bono.<\/h3>\n<h3>A graduate of Al-Azahar University in Cairo, Egypt, Dangote began his business career in 1978, trading in rice, sugar and cement, before he ventured into full-scale manufacturing. In 2013, Forbes listed him as the &#8216;Most Powerful Man in Africa.&#8217; In April 2014, TIME Magazine listed him among its 100 &#8216;Most Influential People in the World.&#8217; He also made the list of CNBC&#8217;s &#8216;Top 25 Businessmen in the World&#8217; that changed and shaped the century.<\/h3>\n<section class=\"bg-grey\">\n<div class=\"container\">\n<div class=\"row\">\n<div class=\"col-sm-12 col-md-10 offset-md-1\">\n<div class=\"row row-grid\">\n<div class=\"col-md-4\">\n<div class=\"business-news-new\">\n<div class=\"text-center\"><img decoding=\"async\" src=\"https:\/\/www.dangote.com\/wp-content\/uploads\/2020\/02\/money.png\" width=\"40px\" \/><\/div>\n<h5>Total Group Earnings: NOVEMBER\u00a0 2020 YTD<\/h5>\n<h1>$4.3 billion<\/h1>\n<\/div>\n<\/div>\n<div class=\"col-md-4\">\n<div class=\"business-news-new\">\n<div class=\"text-center\"><img decoding=\"async\" src=\"https:\/\/www.dangote.com\/wp-content\/uploads\/2020\/02\/sub.png\" width=\"40px\" \/><\/div>\n<h5><\/h5>\n<h1>15 Subsidiaries<\/h1>\n<\/div>\n<\/div>\n<div class=\"col-md-4\">\n<div class=\"business-news-new\">\n<div class=\"text-center\"><img decoding=\"async\" src=\"https:\/\/www.dangote.com\/wp-content\/uploads\/2020\/02\/public.png\" width=\"40px\" \/><\/div>\n<h5><\/h5>\n<h1>3 Public Listed Companies<\/h1>\n<\/div>\n<h2><span id=\"Awards_and_memberships\" class=\"mw-headline\">Awards and memberships<\/span><span id=\"Awards\" class=\"mw-headline\"><\/span><\/h2>\n<ul>\n<li><strong>Dangote was awarded Nigeria&#8217;s second-highest honour, the Grand Commander of the Order of the Niger (<a class=\"mw-redirect\" title=\"Nigerian National Honours\" href=\"https:\/\/en.wikipedia.org\/wiki\/Nigerian_National_Honours\">GCON<\/a>) by the former president, <a title=\"Goodluck Jonathan\" href=\"https:\/\/en.wikipedia.org\/wiki\/Goodluck_Jonathan\">Goodluck Jonathan<\/a>.<sup id=\"cite_ref-25\" class=\"reference\"><\/sup><\/strong><\/li>\n<li><strong>Dangote was named as the <a title=\"Forbes\" href=\"https:\/\/en.wikipedia.org\/wiki\/Forbes\">Forbes<\/a> Africa Person of the Year 2014.<sup id=\"cite_ref-26\" class=\"reference\"><\/sup><\/strong><\/li>\n<li><strong>For six consecutive years, 2013,<sup id=\"cite_ref-27\" class=\"reference\"><\/sup> 2014, 2015, 2016, 2017, and 2018 Forbes listed him as the &#8216;Most Powerful Man in Africa&#8217;.<\/strong><\/li>\n<li><strong>In 2014, he was listed <a title=\"CNBC\" href=\"https:\/\/en.wikipedia.org\/wiki\/CNBC\">CNBC<\/a>&#8216;s &#8216;Top 25 Businessmen in the World&#8217; that changed and shaped the century.<sup id=\"cite_ref-33\" class=\"reference\"><\/sup><\/strong><\/li>\n<li><strong>In April 2014, <a title=\"Time (magazine)\" href=\"https:\/\/en.wikipedia.org\/wiki\/Time_(magazine)\">TIME Magazine<\/a> listed him among its 100 Most Influential People in the World.<sup id=\"cite_ref-35\" class=\"reference\"><\/sup><\/strong><\/li>\n<li><strong>In October 2015, Dangote was listed among &#8217;50 Most Influential Individuals in the World&#8217; by <a title=\"Bloomberg Markets\" href=\"https:\/\/en.wikipedia.org\/wiki\/Bloomberg_Markets\">Bloomberg Markets<\/a>.<sup id=\"cite_ref-38\" class=\"reference\"><\/sup><\/strong><\/li>\n<li><strong>He won &#8216;The <a title=\"The Guardian (Nigeria)\" href=\"https:\/\/en.wikipedia.org\/wiki\/The_Guardian_(Nigeria)\">Guardian<\/a> Man of the Year 2015&#8242;.<sup id=\"cite_ref-40\" class=\"reference\"><\/sup><\/strong><\/li>\n<li><strong>He won the &#8216;2016 African Business Leader Award,\u2019 organised by the Africa-America Institute (AAI).<sup id=\"cite_ref-41\" class=\"reference\"><\/sup><\/strong><\/li>\n<\/ul>\n<h3><strong><span id=\"Memberships\" class=\"mw-headline\">Memberships<\/span><\/strong><\/h3>\n<p><strong>Dangote sits on the board of the Corporate Council on Africa, and is a member of the steering committee of the <a title=\"United Nations\" href=\"https:\/\/en.wikipedia.org\/wiki\/United_Nations\">United Nations<\/a> Secretary-General&#8217;s Global Education First Initiative,<sup id=\"cite_ref-43\" class=\"reference\"><\/sup> the <a title=\"Clinton Foundation\" href=\"https:\/\/en.wikipedia.org\/wiki\/Clinton_Foundation\">Clinton Global Initiative<\/a> and the International Business Council of the <a title=\"World Economic Forum\" href=\"https:\/\/en.wikipedia.org\/wiki\/World_Economic_Forum\">World Economic Forum<\/a>. He was named Co-chair of the US-Africa Business Center, in September 2016, by the <a title=\"United States Chamber of Commerce\" href=\"https:\/\/en.wikipedia.org\/wiki\/United_States_Chamber_of_Commerce\">US Chamber of Commerce<\/a>. In April 2017, he joined the Board of Directors of the <a class=\"mw-redirect\" title=\"Clinton Health Access Initiative\" href=\"https:\/\/en.wikipedia.org\/wiki\/Clinton_Health_Access_Initiative\">Clinton Health Access Initiative<\/a>. He is also on the Board of <a class=\"mw-redirect\" title=\"ONE Campaign\" href=\"https:\/\/en.wikipedia.org\/wiki\/ONE_Campaign\">One Campaign<\/a>.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"footer-move foot-push\">\n<div class=\"container\">\n<div class=\"row\">\n<div class=\"col-sm-4 col-md-3 col-6 mb-5 mb-md-0\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<h3><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"wtgSticky\" class=\"slideFromBottom animated\">\n<div id=\"wtgStickyWrapper\">\n<div id=\"wtgStickyScrollMobileDivInner\" class=\"wtgStickyInner\">\n<div id=\"\/26225854\/Dotaudience\/nairametrics.com\/AnchorAd\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dangote Cement market capitalization increased by 28% to cross N3 trillion mark in November The market capitalization of Dangote Cement Plc increased from N2.73 trillion at the open of trade on the 2nd of November 2020, to N3.49 trillion at the close of trade on the 30th of November. Further checks revealed that the market [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13707,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2405,11,8,1314,1456,1156,14,1,12,7,9,10],"tags":[3032,3473,2110,3472,3471],"class_list":["post-18502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-business","category-entertainment","category-global-business-entrepreneurs","category-global-news-updates-and-more","category-global-sports","category-most-commented","category-news","category-scitech","category-sports","category-us","category-world","tag-aliko-dangote-mfr","tag-dangote-at-the-world-economic-forum","tag-forbes-richest-men","tag-gcon-aliko-dangote","tag-richest-african-in-the-world","et-has-post-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/18502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18502"}],"version-history":[{"count":0,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/18502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/13707"}],"wp:attachment":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}