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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Dividend for the entire year touched $254-million while income before interest, taxes, diminishment and amortization $254 million) reached $57.8-million and net profits after tax reached $75.6-million. The firm noted that rutile production from its operation of 75.6 million Leone had risen by virtually 9000 tons the prior corresponding period, to 136,000 tons, with rutile sales up 9% to 142,000 tons. “This was a strong year for Sierra Rutile, with consistently improved operations and demand and higher prices for rutile supporting our revenue, Ebitda, and net profit after tax growth,” announced Sierra Rutile Managing Director and Chief Executive Officer – Theuns de Bruyn. “Despite the record rainfall at...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Income for the past year (2022) rose by 16.96% year on year while its net profit thrived 4.90%. The cement manufactory’s expense of production similarly soars during the assessment period, as Dangote Cement expended N662.89 billion to guarantee its products are accessible in the market. However, it was huddled that the production expenditure boosted by 20.30% when correlated to the N551.01 billion spent in 2021, the financial statements exhibited. This implies, the cost of production rose rapidly than the popover of Dangote Cement within the early quarter and fourth quarters of 2022. Furthermore, the revenue after tax fell behind the revenue and cost of production growth, as the manufacturer reported a 4.90%...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- Manufacturers have called on the Government to develop and implement policies that will accelerate the transition to a circular economy. This was during the Loop Forum, hosted by Kenya Association of Manufacturers (KAM) in partnership with Royal Danish Embassy in Nairobi; the Embassy of the Kingdom of the Netherlands to Kenya; and the Ministry of Environment, Climate Change, and Forestry. Speaking during the Loop Forum, the Cabinet Secretary, Ministry of Environment, Climate Change and Forestry, Ms. Soipan Tuya, reiterated Government’s commitment to transition Kenya from the linear model to a circular economy. “Our plan focuses on people, the planet, and profits. The idea is to ensure that the goods of today become the...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Algerian President Abdelmadjid Tebboune said on last Sunday the North African country will allot billion dollars to fund development programs across the landmass through the Algerian Agency of International Cooperation for Solidarity and Development. According to sources, the President’s opinion was declared openly in a speech read by Prime Minister Aimene Benabderrahmane at the annual African Union summit of leaders in the Ethiopian capital, Addis Ababa. “I have decided to inject one billion US dollars for the benefit of the Algerian Agency of International Cooperation for Solidarity and Development to finance development projects in African countries.” It is asserted interest would be...