SSA -Macro-economic environment
- Sub-Saharan Africa (SSA) is estimated to have grown at 3.8% in2022, slower than the 4.7% rebound in 2021.
- The slower than expected growth is premised on the huge supply shocks from the Russia-Ukraine crisis and accelerating inflation at apace not seen in decades.
- For our operations, Dangote Cement experienced a surge in prices of our inputs costs; significant foreign exchange fluctuation in our countries of operation; and a dropping as availability in Nigeria.
- However, our countries of operation all grew in 2022, with Tanzania, Congo and Senegal growing at the highest rates. This growth supported cement demand across our operations.