Finance

After Socimat in Cote d’Ivoire, LafargeHolcim Maroc Afrique proceeds to two new acquisitions in Benin and Cameroon

Wednesday, 12 October 2016 18:18

After buying Socimat in Cote d’Ivoire in July 2016, cement maker LafargeHolcim Maroc Afrique (LHMA) continues its expansion in Africa by acquiring two new firms in sub-Saharan Africa.

Indeed, LMHA, which is a joint-venture between the Société nationale d’investissement (SNI) and LafargeHolcim, just bought a 50% stake in SCB Lafarge Benin and 54.7% in Cimencam in Cameroon. Amounts for the deals have however not yet been disclosed.

In terms of output, SCB Lafarge in Benin produces about 600,000 tons of cement each year. As for Cimencam, it produces a total of around 1.7 million tons each year.

The new acquisitions are part of LHMA’s expansion strategy across Africa. Under the strategy, the group is to enter economies with growth potential such as Burkina Faso, Gabon, Mali, Mauritania, Congo, DRC and Senegal.

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