FY’24 SSA Industrials Outlook: A glimpse of hope
Price hikes offset declining volumes
In 2023, the cement industry experienced a decline in volumes attributed to cash shortages, election uncertainties, and prolonged heavy rainfall, which impeded construction activities… .
Price cut triggers industry uncertainty
In October, BUA Cement made a surprising announcement to reduce the ex-factory price of cement in Nigeria from ₦4,200 to ₦3,500 per bag. While this was met with excitement as it was seen as a potential relief to Nigeria’s housing cost crisis, there were concerns about the sustainability of BUA Cement’s decision, considering the industry’s cost dynamics, market competition, and the strategic advantages held by Dangote Cement….
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