Coronavirus: Dangote reportedly loses N240 billion (GHS3.94bn) in 5hrs

Africa’s richest man, Aliko Dangote has reportedly suffered a huge loss of N240 billion in five hours due to coronavirus on Wednesday March 11, 2020.
This is equivalent to about GHS3.94 billion.
The ‘Dangote Group’ suffered huge losses just after the World Health Organisation (WHO) declared coronavirus a pandemic (spreading in multiple countries around the world at the same time) which orignated from Wuhan, China.
According to the Nation, Dangote Cement Plc which is Nigeria’s most capitalised quoted company and accounts for more than 20 per cent of the total market capitalization, led the decline with the maximum daily allowable drop of 10 per cent or N17, which is equivalent to net depreciation of N289.68 billion.
Dangote Sugar Refinery (DSR) Plc and NASCON Allied Industries Plc lost N1.8 billion and N3.05 billion. Dangote Cement’s share price dropped by N17 from N170 to close at N153. NASCON Allied Industries declined by N1.15 to close at N3.05 while DSR lost 15 kobo to close at N9.75 per share.
Source: www.yabaleftonline.ng
Trending Business
SIC Insurance PLC to provide rewards system to high-performing agents
16:17Don’t oversimplify Cedi gains – Prof. Gatsi caution Ghanaians
16:55Tano North MP credits Bawumia, NPP for strong reserves buffering Cedi
12:15Petrol price should have gone lower than what we’re experiencing at the pumps-Energy expert
13:42Mahama attributes Cedi stability to strong economic policies and rising reserves
07:30NLA corporate affairs head defends KGL contract amid calls for review
11:31GPRTU announces 15% reduction in transport fares May 25
09:00TAGG grabs strategic trade partnerships at SelectUSA 2025 Summit
03:4613-member board of directors of GoldBod sworn in – Finance Minister tasks new team to strengthen Ghana’s economic recovery
01:27Cedi’s 16.7% surge marks major economic turnaround – Finance Minister
12:26