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Dangote launches a circular economy programme, trains traders on financial literacy

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Dangote launches a circular economy programme, trains traders on financial literacy

Dangote launches a circular economy programme, trains traders on financial literacy

 

 

 

 

Dangote Cement has launched a circular economy programme, called “DangCircular”. The new initiative aims to promote recycling and reuse of scarce resources in society to reduce landfilling and create wealth as a contribution to environmental sustainability.

 

 

 

Dangote launches a circular economy programme, trains traders on financial literacy

 

 

DangCircular was rolled out during this year’s Dangote Sustainability Week, targeting students of Nigerian higher institutions. The company partnered with the Yaba College of Technology, Lagos, and UNESCO-UNEVOC (UNESCO International Centre for Technical and Vocational Education and Training) in a competition tagged ‘Yaba Green Challenge’.

 

 

 

 

 

Dangote employee Volunteers and Executives graced the finale of the competition to witness the presentation of 10 sustainability innovations the students created from waste after a screening of over 30 entries.

 

 

 

 

 

 

 

 

Among the panel of judges were the academic staff of Yabatech, officials, and UNESCO UNEVOC, as well Dangote Cement Technical Director Mr. Duraisamy Anandam and General Manager Regional Sales, Mr. Johnson Olaniyi. The judges engaged finalists on their projects which include: 1) Mixed media painting from sawdust 2) Fungal growth medium from industrial wheat waste 3) Medicinal mushrooms from sawdust and water hyacinth. Others were mycelia blocks from spent mushroom substrate,

 

 

 

 

 

 

 

 

Wearable art from the aluminum beverage can pull tab wastes, and sculpture from metal scraps. The students also made a paving interlocking block project with plastics, Hollow sandcrete blocks from plastics, and a mixed media painting made with waste plastics and paper, as well as animal feed produced from water hyacinth.

 

 

 

 

 

 

 

The event began with a tour of the Yabatech art museum, a courtesy visit to the College Rector, and a donation of waste segregation bins made to the management of the school. At the finale of the Yaba Green Challenge competition which had over 300 staff and students, the Rector of the College Engr Obafemi Omokungbe endorsed the initiative, describing the partnership between Yabatech and Dangote as a very strategic and exciting one. He stated that “talks are ongoing to obtain patent rights for the innovations showcased at the event to share with the private sector for adoption”.

 

 

 

 

 

 

 

 

Leading the Dangote delegation was General Manager Sustainability, Dr. Igazeuma Okoroba expressed satisfaction at the exhibition. In her remarks, she stated that “the goal of DangCircular was to spur Nigeria’s transition to a circular economy and support wealth creation through waste.” She also encouraged the institution to carry out cutting-edge research for the economic growth of society.

The winner of the grand prize of the competition was Ms. Ajide Comfort of the Fashion Design Department. In a very emotional reaction, Ms. Comfort whose project was Wearable art from an aluminum beverage can pull-tab waste, expressed her gratitude to Dangote Cement and pledged to continue finding ways to integrate waste recycling in her designs.

In the same vein, the company implemented “The Obalende Smart Money Campaign”, a financial literacy awareness campaign, to help over 300 traders of the Obada Obalende market to gain insight into managing money and limited resources sustainably. The initiative was part of activities to mark Sustainability Week in Nigeria and Pan Africa.

Speaking on the financial literacy campaign, the Lead, Health, and Safety Mr. James Adenuga said the theme of the yearly programme: ‘People, Planet and Profit – The Dangote Way’ is driven by employee volunteers. In his remarks, he explained to the traders the meaning of sustainable development and why it was a topic of concern for traders. Sighting examples with relatable stories, the Head of Sustainability, Dr. Okoroba explained that “While seeking for their daily bread, it was important that the traders ensure that the needs of the present and future generations are not threatened by poor treatment of land, water, and natural resources available to us”.

 

 

 

 

 

Diversity and inclusion were other aspects Dangote Cement sought to make an impact on society during Sustainability Week as the Dangote volunteers engaged in a charity outreach targeting the Down syndrome community and the visually impaired. The campaign for the visually impaired was to commemorate White Cane Safety day, an annual event celebrated worldwide every 15th of October.

 

 

 

 

 

 

The Dangote volunteers visited the Women and Children with Disability Initiative (WCWDI) home for visually impaired children, interacting with the children. The company made donations of food items, beverages, and specialized educational materials for the blind including white canes, slates, and marbouqs. Following this, the team of volunteers conducted a sensitization walk of the neighbouring community to enlighten residents on the white cane as a right of passage for the visually impaired which should be respected.

 

 

 

 

 

 

In another outreach to the Down Syndrome Foundation Nigeria (DSFN) located at Iju Fagba, Lagos, the Volunteers toured the vocational centres where persons with Down syndrome were trained in life skills. The National President of the Downs syndrome Association, Mrs. Rose Mordi, noted that ‘Down syndrome is not a disease but a condition which can happen to anyone”. She also gave insight on the theme of Down Syndrome Awareness Month – “Nothing About Us Without Us”, acknowledging Dangote’s support and calling for other private sectors to follow in the same vein.

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2023: Dangote Cement increases shareholder’s dividend by 50%, to N30 per share

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Dangote Cement Trucks Wrongfully Intercepted In Adamawa

2023: Dangote Cement increases shareholder’s dividend by 50%, to N30 per share

sales from African subsidiaries rose by 12.7%

 

 

 

In line with the promise of Chairman, Dangote Cement, Aliko Dangote at the company’s 2022 Annual General Meeting (AGM), of an enhanced return on Investments to all the shareholders and other stakeholders in Dangote Cement, Plc, the company’s Management for the year ended December 31, 2023, has proposed an increase in the dividend payout to the shareholders, by 50 percent, to N30 per share.

The proposed increase in dividend is subject to ratification by the shareholders at the forthcoming, AGM. Proposing a dividend of N30 per share at a period when many firms are declaring losses is an indication of the resilience of Dangote Cement and the prospects it holds for investors.

A breakdown of the results indicated that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 percent to ₦2,208.1 billion while Profit after tax (PAT) was up by 19.2 percent to ₦455.6 billion. Earnings per share went up by 18.8 percent at ₦26.47.

Dangote Cement is garnering more market share across the continent with pan-Africa volumes going up by 12.7 percent to 11.3Mt.

Group Managing Director, Dangote Cement, Arvind Pathak speaking on the results said “This positive full-year outcome is a combination of the strength in the diversity of our operations across Africa and our sustained drive to contain cost amidst an accelerating inflationary environment. The Group achieved double-digit growth in revenue at ₦2,208.1 billion, while Group EBITDA reached a record high, increasing 25.1 percent to ₦886.0 billion.

Despite the challenging macroeconomic conditions, 2023 was yet another testament to the effectiveness of our diversification strategy. Our diverse operations acted as a cushion, providing resilience to country-specific risks. Pan-African volumes were up 12.7 percent and now account for 41.2 percent of Group volume. Consequently, pan-African revenue increased by a record 123.2 percent to ₦925.9 billion, while EBITDA surged by over four-fold to ₦263.7 billion.”

He added, “In response to the heightened inflationary environment, we implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins. These initiatives included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels. We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks.

Looking ahead, following the commissioning of our 0.45Mta grinding plant in Takoradi, we are focusing on our “export to import” strategy in West and Central Africa, while concurrently optimising assets in Eastern Africa. Our strategy remains centered on enhancing our value proposition through the production of high-quality cement and delivering sustainable value to our stakeholders.”

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Harvard Business School Launches Tony Elumelu Foundation Case Study

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Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum 

Harvard Business School Launches Tony Elumelu Foundation Case Study

 

 

 

Spotlights Role of African Philanthropy in Transforming the Development Agenda in Africa

 

 

At a time of renewed geopolitical interest in Africa, and an increasing questioning of traditional development finance models, Harvard Business School today released a case study examining the role and impact of the Tony Elumelu Foundation (TEF), and its unique approach to catalysing entrepreneurship in Africa.

 

 

Harvard Business School Launches Tony Elumelu Foundation Case Study

The Foundation, Africa’s leading funder of young entrepreneurs, has pioneered an innovative approach to seeding, capacitising and networking young entrepreneurs across Africa. Drawing directly from Tony Elumelu’s entrepreneurial journey, his acknowledgement that luck and chance played an important role in his success, the Foundation democratises luck, spreads opportunity, in a sector agnostic approach, and has developed a bespoke infrastructure that reaches every country in Africa. The Foundation is a direct expression of Elumelu’s philosophy of Africapitalism, that the private sector must play a pivotal role in Africa’s development, and that investment must seek social, as well as economic returns.

The case study, the first of its kind focused on African philanthropy, was launched today, Thursday, February 29, 2024, before a class of graduate students at Harvard Business School and explored the Foundation’s unique approaches and transformative initiatives, showcasing how the strategic philanthropy offered by TEF, is driving positive change and elevating countries and communities.

The case study recognises challenges the Foundation faces, and its responses, as it developed its mission, since founding in 2010. The track record is impressive, with over 20,000 entrepreneurs funded, over a million connected digitally and the development of an impact assessment capacity. TEF has disbursed over USD$100 million, reaching every African country. The Foundation is increasingly developing a partnership-based approach, working with institutions such as the EU, US agencies, the UNDP, the ICRC, the Ikea Foundation, and others to develop bespoke programmes focused on fragile states, female entrepreneurs and sustainability initiatives.

Tony Elumelu, who spoke at Harvard said, “TEF is creating economic hope and opportunity for African entrepreneurs. We know that entrepreneurship is the solution to youth unemployment and insecurity. Through the intervention of the Foundation, we are transforming our young people, giving them hope. Collectively, all of us can resolve the challenges that we have on the continent.

It is wonderful to have had the opportunity to work with HBS, to spotlight our successes, acknowledge the challenges that we have at times faced, and provide the opportunity to spread our experience, for the benefit of others.”

The Harvard Business School session provided an opportunity to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies. As the world grapples with complex challenges around demographics, climate and sustainability, the Tony Elumelu Foundation model offers a fascinating model of how strategic philanthropy can be a driving force for positive change.

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Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum

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Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum 

Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sahara Weekly Reports That In an unprecedented move, the Harvard Business School, the graduate business school of Harvard University, is set to cast the spotlight on the Tony Elumelu Foundation (TEF), recognising the Foundation’s extraordinary philanthropic achievement in a ground-breaking case study.

 

 

 

 

 

 

 

 

 

Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum 

 

 

 

 

 

 

 

 

The case study, first of its kind on any philanthropic organisation in Africa, is to be launched on Thursday, February 29, 2024, before a class of graduate students in Boston, Massachusetts and will explore the Foundation’s unique approaches and transformative initiatives, showcasing how strategic philanthropy offered by TEF is driving positive change and elevating countries and communities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This move by Harvard underscores the Foundation’s pivotal role in empowering young African entrepreneurs across all 54 African countries and places the Foundation at the forefront of global discussions on transformative and catalytic philanthropy, acknowledging its significant contributions towards fostering entrepreneurship in Africa.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In addition to delving into the foundation’s innovative approaches and the resultant impact it has garnered over the years, the event will also feature an exclusive acknowledgment of the Founder of TEF, Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Tony Elumelu Foundation is the leading philanthropy, empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and increasing inclusive economic empowerment.

 

Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over USD$100 million in direct funding to 20,000 young African women and men, who have collectively created over 400,000 direct and indirect jobs.

 

Tony Elumelu who spoke on the impact of TEF on the African youth said, “TEF is creating economic hope and opportunity for African Entrepreneurs. We know that entrepreneurship is the antidote to poverty, youth unemployment and insecurity. Through the intervention of the Tony Elumelu Foundation, we are encouraging our young people, giving them hope through the seed capital we provide, capacitising them through the training and mentoring we provide and setting them up to create businesses that will succeed and create even more jobs. Collectively we are fixing the challenges that we have on the continent.

 

Continuing, he said, “the Tony Elumelu Foundation was set up to create more successful African business leaders. We want to replicate our own success and create entrepreneurs who will build more prosperity on the continent and for the continent. It’s all about transforming our society and making sure that we leave the society better than we met it. It is not about the money that we have in our bank accounts, it is about the legacy that we make and the impact we create. Prosperity for all is what will create the security, harmony and peace that we need.”

 

The Harvard Business School session will provide a platform for thought leaders, scholars, and business enthusiasts to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies. As the world grapples with complex challenges, the Tony Elumelu Foundation stands as a beacon of hope, showcasing how strategic philanthropy can be a driving force for positive change.

 

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