Lafarge Africa notifies NSE of 35% divestment shareholding in CBI Ghana

By Kayode Tokede

Lafarge Africa Plc, a cement manufacturer headquartered in Lagos and majorly controlled by LafargeHolcim has  notified the Nigerian Stock Exchange (NSE) of its decision to divest its 35per cent shareholding in Continental Blue Investment Ghana Limited (CBI Ghana).

Lafarge  in a notification at the Nigerian Stock Exchange signed by Adewunmi Alode (Mrs.) General Counsel & Company Secretary, the decision was taken at the emergency meeting of its Board on Wednesday, 20th January 2021.

Lafarge Africa in its 2019 Annual report said “As at December 31, 2019, the carrying amount of the company’s investment in Continental Blue Investment (CBI) has been fully depleted, as the losses reported over the years exceeded the carrying amount of the investment,” the financial results pointed out.