KATSINA WOMAN REWARDED WITH N500, 000 FOR DISPLAY OF HONESTY. (PHOTO).

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 Katsina woman rewarded with N500,000 for display of honesty A woman identified as Malama Amina Abdulkadir-Yanmaman has been rewarded with N500,000 and certificate of commendation for returning N748,320 wrongly credited to her account to the coffers of Katsina state government. Abdulkadir-Yanmaman was wrongly credited with N748,320 meant for the Federal Government’s Home Grown School feeding programme in the state, according to Executive Director, Katsina State Social Investment Programme Agency (KASIPA), Dr Mudassir Nasir. Nasir presented the reward to Abdulkadir-Yanmaman on behalf of Katsina State government. “She told us that she received alert with a narration titled payment for vendors who were providing primary school pupils with free food. “The woman decided to come to our office because she was not on the register for vendors who provide food for our pupils and she was not part of such a programme. “We requested for her bank statement and the office of the auditor-general v...
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SWISS CEMENT MAKER HOLCIM EXITS NIGERIA, SELLS BUSINESS TO CHINESE FIRM. (PHOTO).

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 Swiss cement maker Holcim exits Nigeria, sells business to Chinese firm


Swiss cement maker Holcim will exit its Nigerian business through the sale of its nearly 84% stake in Lafarge Africa to China’s Huaxin Cement, it was announced on Sunday.


The sale price is $1 billion for a 100% stake.


The sale aligns with Holcim’s strategy to streamline its portfolio and focus on high-growth regions, including the upcoming spin-off of its North American business, which remains on track for a U.S. listing in the first half of 2025.


The transaction is expected to close in 2025, subject to regulatory approval, according to Holcim’s statement, which did not provide further details on the reason for this specific sale.


In November 2023, Holcim said it had signed deals to sell its businesses in Uganda and Tanzania, further advancing its strategy to consolidate leadership in core markets as the global leader in innovative and sustainable building solutions.


According to Reuters, The deal marks the latest in a series of African acquisitions by Huaxin Cement. In 2021, Huaxin Cement announced it had agreed to buy two businesses that were part of Lafarge, which merged with Holcim in 2015: a 75% stake in Lafarge Zambia and all of Lafarge Cement Malawi.

Last year, it also announced the purchase of South Africa’s Natal Portland Cement Company.


Holcim has been focusing on sustainable growth in its core markets, higher-margin products, and strategic infrastructure investments. The company is also working to enhance its environmental credentials, having taken a stake in Sublime Systems, a U.S. tech start-up focused on low-carbon cement.


In October, Holcim reported a slightly better-than-expected recurring operating profit of 1.67 billion Swiss francs ($1.90 billion) for the third quarter.

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