Business
Dangote Industries wins FMDQ largest Corporate Lodgment Award
The Pan-African conglomerate, Dangote Industries Limited (DIL) and its Africa’s leading cement manufacturer subsidiary, Dangote Cement Plc, have been adjudged the Largest Corporate Bond lodgment on FMDQ in gold category and the 2022 Most Trusted Brand of the Year, respectively.
On the back of the Largest Corporate Bond lodgment on FMDQ award came another recognition with the Dangote Group named as the Most Outstanding Conglomerate in Environmental Sustainability.
The cement giant came tops in the stock market for its unprecedented N116 billion Series 2 Bond issuance back in May this year.
The FMDQ Gold Awards recognizes excellence in Fixed Income, Currencies and Derivatives market. It also recognizes demonstrated resilience and agility of the Nigerian financial market participants and acknowledges the valuable efforts of the stakeholders and their participation in the FMDQ markets and across the financial market. It is also given to the corporate entity for the highest total bond value admitted on FMDQ Depository.
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During the annual Most Trusted Brand Award, organized by leading research firm Brand Health Ltd, Dangote Cement was chosen as the most trusted cement brand in a survey of 13,000 consumers.
The Chief Executive Officer, Brand Health Ltd, Emman Udowoima commended Dangote Cement for the achievement, describing it as a brand of trust and choice indeed.
According to him “four out of ten consumers who took part in the study voted Dangote Cement as the Most Trusted Cement Brand in Nigeria. The popularity and the confidence in the brand is overwhelming as its closest rival scored just 12% while Dangote scored 41%.”
Other cement brands with substantial mentions scored between 3% and 8%. Some of the elements of the survey include questions like ‘the brand that you feel most confident in, the brand that offers you what you want, the brand that offers highest quality, the brand that is distinctive, and the brand you would recommend to your friends and relatives.
Udowoima stated that about 13,000 respondents participated in the 2022 survey and were interviewed across 12 states in Nigeria, including the Federal Capital Territory.
The States are: Lagos, Oyo, Enugu, Abia, Akwa Ibom, Rivers, Plateau, Adamawa, Borno, Kaduna and Kano and the respondents were drawn from both urban and rural communities.
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The survey, he said, used quantitative method to elicit responses from the consumers, and also focused on such demographics as gender – Male 50%, Female 50%; Social Class: AB 15%, C1 C2 40%, DE 45%; Age: 18-25, 30%, 26-35, 30%, 36-50, 25%, 51+ 15%.
He explained that “The Most Trusted Brands (MTB)” Awards was instituted in 2010 to reward brands that keep promises to the consumers. The award is an enabler for brands to do more for consumers, knowing full well that consumers either reward or punish brands according to their experiences.
The Dangote Industries Limited also received the award of the Most Outstanding Conglomerate in Environmental Sustainability. The award was given by the Environmental Sustainability Conference, Expo and Awards (ECOSEA) initiated by Brand Communicator, a frontline brands and marketing publication.
Joshua Ajayi, the convener of the conference and awards said, “corporate sustainability practices evolved rapidly in the country’s business space, from just being a cosmetic charity activity into organised sustainability needs built into a vision with specific goals.”
Dangote Industries, a fully diversified conglomerate with annual group turnover of US$4billion has invested heavily in building a sustainable business which cuts across Cement, Sugar, Salt, Petroleum, Fertiliser and food.