Seminar: Dangote Cement Plc: An African Success Story?
Globally, market and non-market forces influence business decisions. In economies with weak institutions, however, the importance of non-market factors is usually elevated. This discourages long-term planning and investments by many businesses. This seminar critiques developments in the Nigerian cement industry in the context of the above theory. It shows how the above dynamics created opportunity for an indigenous cement company, Dangote Cement Plc, to displace long-established cement multinationals and become the dominant player in the Nigerian cement industry. The company achieved this by exploiting its close relationship with the government to champion a ‘backward integration policy’ for the industry. The result was that in less than 12 years Nigeria moved from being heavily dependent on imported cement to become the leader in cement production in Africa. Although it is often cheaper to manufacture than import cement in the country, cement multinationals have been unwilling to undertake the capital investment necessary to exploit this opportunity.
Chibuike Uche has extensive research experience in Nigeria, Ghana and Sierra Leone in the fields of political economy, business and financial history, financial institutions regulation and regional integration. His current research interest is foreign business operations in Africa. Prior to joining the ASC, he was Professor of Banking and Financial Institutions at the University of Nigeria and a member of the Monetary Policy Committee of the Central Bank of Nigeria. He has a PhD in Accounting and Finance from the London School of Economics.
Akinyinka Akinyoade is a Hydrologist turned Demographer. He obtained a Doctoral degree in Development Studies with emphasis on Population and Rural Development at the International Institute of Social Studies (ISS), The Hague. His research activities are on population health and development, with special attention on fertility dynamics and family planning in West Africa; migration (human trafficking and forced labor in Nigeria); decentralization (public service delivery in education and health sectors of Nigeria, Cameroon, Tanzania and Indonesia).
Discussant
Date, time and location
21 May 2015
15.30 - 17.00
Pieter de la Courtgebouw / Faculty of Social Sciences, Wassenaarseweg 52, 2333 AK Leiden
Room 5A47 (5th floor)
Registration
Posted on 17 April 2015, last modified on 19 May 2015