Dangote sugar refinery launches N50bn commercial paper offer

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Dangote Sugar Refinery PLC (DSR) has introduced Series 2 and 3 Commercial Paper offers totaling up to N50 billion under its N150 billion Commercial Paper Issuance Programme. The offer is currently open and is set to close on Friday, April 5, 2024.

As a subsidiary of the Dangote Group, DSR specializes in refining, distributing, and marketing granulated sugar to wholesalers and key players in various industries including skincare, food and beverage, and pharmaceuticals. It holds the title of Sub-Saharan Africa’s largest sugar refinery, boasting a combined installed refining capacity of 1.44 million metric tonnes per annum and commanding a market share of approximately 55% in the retail sector.

With 47,364 hectares of sugar plantation, DSR aims to produce 1.5 million metric tonnes of refined sugar annually from its sugarcane in the medium term.

Source; Daily Trust

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