In a year marked by hyperinflation, currency devaluation, and geopolitical instability across several African markets, Ethiopia stood out as Dangote Cement Plc’s most operationally profitable Pan-African operation in 2024 at least on an inflation-adjusted basis.
Ethiopia reported an inflation-adjusted revenue of N252.56 billion, pre-tax profit of N122.5 billion and post-tax profit of N91.8 billion, according to Dangote Cement’s 2024 full-year report.
Ethiopia’s standout performance is particularly noteworthy given its classification as a hyperinflationary economy, triggering the application of IAS 29 in Dangote Cement’s 2024 full-year earnings.
