HBM Plc Launches Distributor Recruitment Amid Rising Cement Prices

HBM Plc, formerly known as Lafarge Africa Plc, has launched a significant recruitment campaign for distributors in Nigeria to expand its market presence amid rising competition and cement prices, which have reached up to N15,000 per 50kg bag. The company, now part of Huaxin after acquiring an 83.81% stake in Lafarge Africa, requires prospective distributors to have a minimum of N250 million in working capital, a warehouse of at least 500 square meters, and access to five trucks with capacities of either 20 or 40 tonnes.

Successful applicants will also need to complete training at the company's Development Academy. This recruitment strategy marks a shift from the previous approach in 2020, which focused on market knowledge and financial net worth.

Proshare estimates that the total investment for a distributor could range from N595 million to N1.25 billion. The current retail price of cement has significantly increased, raising concerns among consumers, builders, and property developers.