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Nigeria's Dangote signs Chinese bank loan

Beijing - Dangote Group, the company owned by Africa's richest man Aliko Dangote, signed a deal on Tuesday for a $2bn loan from the Industrial Commercial Bank of China for two cement plants, he told Reuters.

"The interest rate is okay, quite favourable with me," Dangote said, without elaborating. "It's for my two cement companies that we are establishing in Nigeria."

The deal included China Export & Credit Insurance Corporation.

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