Browsing: Cement

As of October last year, Tanzania, East Africa’s Largest producer of cement, was facing so much shortage that prices almost doubled.

A 50kg bag of cement that would, on normal market weather conditions go for about USD 6 the price shot up 30 per cent to a little over USD 8, show the National Bureau of Statistics data for October 2020.

It was a paradox, and the hardliner government wouldn’t have it, newly re-appointed into power, Tanzania’s Prime Minister Kassim Majaliwa was swift to act.  He ordered a nationwide inspection of all known cement factories, warehouses, distribution points and even retail shops.…

Twiga Cement (TPCC on the Dar es Salaam Stock Exchange) on Friday, May 22, 2020, released its Annual Report and audited accounts for the year ended 2019. Revenues grew 6% and net profits rose 5% in 2019 from the year earlier. Dividends were steady at TZS 290 per share for the third year running.  

Twiga is the dominant cement company in Tanzania. It is the 19th-biggest company overall in East Africa by market value and the fifth-biggest in Tanzania, according to the latest African Business rankings. 

The company is a subsidiary of German multinational Heidelberg Cement, which owns 69.3%. The other 30.7% trades on the DSE and is owned by thousands of small shareholders and investment funds.  

Twiga has a huge competitive advantage over the other cement industry players in Tanzania, because its production facilities are on the outskirts of Dar es Salaam. Cement is heavy and expensive …