9M:2022 Cement Sector Report: Sustaining Growth Amid Headwinds
The Global Cement Space
Over time, the demand for cement has continued to be driven by population and urbanization, infrastructure, housing growth and government spending. The United Nations estimated the world population to be around 9.7 billion by 2050 (currently at 7.7 billion, of which Sub-Saharan Africa has an estimated population of c. 1.1billion people). By 2050, 6.6 billion people, which represents twenty-six (68%) of this population, are expected to move to urban areas and African cities are expected to add additional 950million people. The world bank describes Africa as the fastest-growing and youngest region globally. An increasing population need massive infrastructure and rapid real estate development (both residential and commercial). The region's most promising prospects stem from the new African Continental Free Trade Area, a potential market of 1.3 billion people with a combined GDP of almost $3.5 trillion in 2021.
ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape.
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