CYPE REVERSE MERGER WITH
Ibeto Cement Company Limited
PRESS RELEASES ABOUT THE MERGER
WHAT OUR NEW BILLIONAIRE CEO, DR. CLETUS IBETO HAS TO SAY ABOUT THE MERGER
Dr. Cletus Ibeto, The Chairman of The Ibeto Group, the parent company of Ibeto Cement Company Limited, Nigeria, opined that:
“Our key strategic objective in the vast and extensive development of Cement business in Nigeria and West African sub-region is to make cement affordable to all Nigerians and tiers of government in such a way that they should be able to develop modest homes for themselves and their families inclusive of road infrastructure. As far as I am concerned and with the knowledge I have and what I know in this business, the cement business is an investors’ haven especially in Nigeria and a much more profitable business than crude oil where a lot of people think is the best place to invest. This probably explains why the few people in the business have deliberately created very strong barrier to entry into the industry for prospective investors. It is therefore my honest belief that this reverse merger will enable us to accomplish this objective. In the end and, in line with our strategic intent and objective, we are geared to be a world-class cement company in terms of quality, affordability, innovation, service, environment, safety, and corporate governance and also to be a part of building the country’s needed infrastructure.
Dr Ibeto continued, it has been a long journey since I have been in business and none of my companies or businesses has been public. I have a desire to build a formidable structure for companies that will outlive me.
Moving on, everybody knows that I have had great success investing in Nigeria for myself, my family and the communities in which my businesses operate, but then the time has come for me to replicate the successes I have enjoyed in Africa on a global scale. My plan is to share my wealth of experience that has made me a leader in business today so as to ensure that which God has given to me as a gift, building successful businesses, benefits God’s people beyond Africa.
For me, this is a legacy I am building for generations to come. Century Petroleum Corp is the vehicle I plan to use as a catalyst of empowerment for all Nigerians and people all over the world as the shares of the company will be traded internationally”.
I am extremely excited to have Century Petroleum Corp as future part of the IBETO group and having taken over the reigns as the Chairman of the Board of Directors of the company will enable me to put together teams that will help grow the company and propel it and also members of the board that will help me breathe life into what Century Petroleum will ultimately become.
It is also my wish to state here that my years of experience in business as well as my success record, prove that I have the ability to build companies/businesses organically as I had done with the businesses that I have started from ground up and inorganically through businesses that I have acquired as means to grow swiftly in my vertical integration strategy.
Articles about our new CEO
"Cletus was for the first time this year named the 11th richest man in Africa by Ventures Africa with a valuation of $3.7 billion in net worth."
"Cletus’s Ibeto Group, worth of $5 billion, houses some of the country’s leading companies. One of its subsidiaries is Ibeto Cement, the second largest indigenous cement manufacturer in Nigeria."