Bernard Koné Dossongui, the founder and controlling shareholder of Atlantic Financial Group (AFG), a financial holding company with interests in banks and insurance companies across French-speaking Africa, has extended his reach into the cement industry through Société de ciment de Madagascar.
This move introduces competition to Cementis, the largest cement manufacturer on the island. Additionally, Dossongui’s ownership includes Societe Ciment Cote d’Ivoire (SCCI), a cement plant located in Cote d’Ivoire.
According to an official filing on the Economic Development Board of Madagascar’s website, Bernard Koné Dossongui’s latest enterprise, backed with a capital of 1.3 billion Ariary ($285,000), will undertake the establishment and operation of cement, lime, and related hydraulic binder facilities in Madagascar, with potential plans for expansion into other countries.
The company’s scope encompasses various functions, including manufacturing, trade, and the utilization of hydraulic binders and construction materials.
What you should know about AFG
Established in 2006 by Dossongui, AFG is a holding company with diverse investments spanning banking, insurance, agriculture (particularly cocoa processing), industry (including cement and flour milling), hotels, and telecommunications.
As a holiday destination, Africa stands out for its blend of natural beauty, wildlife enco…