Biography Of inoussa Kanazoe (Age , Wife , Net Worth) - Inoussa Kanazoe, a Burkinabe entrepreneur, hopes to gain a major part of Togo’s cement industry through the Lome-based subsidiary of his cement company, Cim Metal Group.
inoussa Kanazoe
Dangote Cement, owned by Africa’s wealthiest man, Aliko Dangote, has a sizable market share.
Kanazoe has targeted the Togolese market following the successful development of Cim Metal Group in Burkina Faso, according to My Engineers. The move is part of the tycoon’s strategy to control a significant portion of the cement sector in Francophone Africa.
Cim Metal Group granted Intercem Engineering of Germany a contract in January 2020 to develop a 2.5-metric-tonne-per-year cement-grinding mill in Lome.
According to Global Cement, the factory will begin operations in early 2021. According to My Engineers, Kanazoe has already begun distributing cement through its Togolese affiliate in September 2020.
Cim Metal has active operations in Burkina Faso via its CimFaso and Cimasso factories, as well as in Cote d’Ivoire via its CimIvoire factory.
Kanazoe also began rolling out Cim Metal in Mali in 2019 after reaching an agreement with the Malian government, according to Jeune Afrique.
Competition
Dangote Cement is Africa’s largest cement manufacturer, having operations in ten countries. According to the company, it earns more than $2.3 billion in sales and has a manufacturing capacity of up to 48.6 million tons per year in Africa by 2020.
Kanazoe’s operations in Togo come at a time when some players in Nigeria’s cement sector and the Senate are seeking to liberalize the industry.
They intend to develop measures to attract market entrants and increase output in order to fulfill Nigeria’s cement shortfall. Their ultimate objective is to significantly lower the commodity’s price in Nigeria.
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