Dangote signs $2bn Chinese bank loan for two cement plants

Dangote

Aliko Dangote, President Dangote Group

Aliko Dangote, President Dangote Group
Aliko Dangote, President Dangote Group

Dangote Group, the company owned by Africa’s richest man Aliko Dangote, signed a deal on Tuesday for a $2 billion loan from the Industrial Commercial Bank of China Ltd for two cement plants, he told Reuters.

“The interest rate is okay, quite favorable with me,” Dangote said, without elaborating. “It’s for my two cement companies that we are establishing in Nigeria.”

Related News

The deal included China Export & Credit Insurance Corporation.