Burkina’s CimMetalgroup could soon invest more than €150 million in Togo

Investments
Tuesday, 04 February 2020 18:24
Burkina’s CimMetalgroup could soon invest more than €150 million in Togo

(Togo First) - CimMetalgroup, owned by Burkinabe mogul Inoussa Kanazoé, could spend around XOF100 billion (€152.4 million) in Togo’s cement and iron sectors. According to Jeune Afrique, the group inked an agreement last month to build an industrial complex in the country. 

It was allowed to fund iron and cement factories in Togo. However, the two parties disclosed no detail on the matter. Still, if it is true, this would greatly contribute to the sectors concerned and the national development plan (PND). 

CimMetalgroup’s financing reinforced Togo’s foreign investment portfolio in the past few months. One of these major investments was made by Africa’s richest Aliko Dangote. The Nigerian billionaire has invested more than $2 billion in the cement and phosphate-to-fertilizer sector. 

Ayi Renaud Dossavi

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