Renowned business magnate, Femi Otedola, has said that his choice of investment in Dangote Cement is determined by long-term wealth preservation, export potential and shareholder value in Dangote Cement share acquisition.
Daily Trust reports that Otedola recently acquired shares worth N6 billion in Nigeria’s largest company by market capitalization, Dangote Cement Plc.
Dangote Cement is one of the Stocks Worth Over One Trillion (SWOOT) with a current market capitalization of above N9 trillion.
Otedola, a serial investor and chairman of Geregu Power Plc, is renowned for his stock-picking boldness and was one of the major drivers of the stock market’s bull run in 2023, after his interest in Transcorp.
Otedola in a statement said his investment in the cement company is a testament to his confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development
“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” he stated.
Otedola said his investment aligned with his vision of long-term wealth preservation and the belief that shareholders should be the primary beneficiaries of a company’s success.
“Companies like Dangote Cement, which consistently deliver value to their shareholders, are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses that prioritize their shareholders,” he added.
Otedola, who argued that Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy, stressed that this along with the company’s pan-African presence, makes it an ideal investment choice
“Dangote Cement’s strong corporate governance and impressive ESG compliance track record make it an ideal investment choice. It represents the type of company that not only contributes to Nigeria’s industrial strength but also aligns with my vision for ethical and sustainable business practices,” added Otedola.
He opined that Dangote Cement’s export capabilities and extensive operations across Sub-Saharan Africa are essential for regional economic integration and growth.