Tanzania: Tanga Cement seeks to cut costs as profits fall

Tanzania: Tanga Cement seeks to cut costs as profits fall
Published: 17 May 2016


Tanga Cement has said that it will concentrate on cutting costs in an effort to counteract falling revenues, the Citizen reports.

The company, whose profit fell to TZS8.24bn (US$3.8m) in 2015, held its annual general meeting this week. Speaking at the event, Board Chairman, Lau Masha, said: "Improving operational efficiency and containing production costs continues to be a major focus for the company... we have spent a lot of money in the last few years so as to ultimately reduce costs and become the most competitive cement producer in the region".

Tanga Cement also said that interruptions in electricity supply had affected its performance in 2015. Mr Masha told the AGM that as a result the company had invested in back-up generation capacity to ensure it could continue production when electricity supplies were irregular.