Dangote Sugar to raise over $33m through commercial paper
By MWorld TeamDangote Sugar Refinery Plc is set to raise approximately N50 billion through the issuance of its Series 8 and 9 Commercial Paper (CP) under its N150 billion Commercial Paper Issuance Programme.
The company, recognized as Sub-Saharan Africa’s largest sugar refinery, boasts a combined installed refining capacity of 1.49 million metric tonnes (MMT) per annum.
A subsidiary of Dangote Industries Limited, Dangote Sugar Refinery engages in the refining, distribution, and marketing of granulated sugar to wholesalers and major players in the skincare, food and beverage, and pharmaceutical industries.
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The commercial paper issuance, which remains open, is scheduled to close today, Thursday, February 20, 2025.
Looking ahead, Dangote Sugar Refinery is pursuing an expansion strategy aimed at producing an additional 1.5 MMT of refined sugar from locally grown sugarcane. This aligns with its long-term goal of becoming a leading global integrated sugar producer through its backward integration plan.
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