Cement News tagged under: East Africa
CIMERWA to list on stock market02 June 2020, Published under Cement NewsCIMERWA has said that it is currently in the process of listing its shares on the Rwanda Stock Exchange (RSE). Mr Sigei, CEO, said that the transaction is currently in the hands of the relevant regulators and will be announced in due course. The listing of the company will also depend on its market performance, which has been affected by the coronavirus pandemic despite a significantly financial book last year, reports KT Press. If listed, CIMERWA will be come the ninth company on the RS... |
CIMERWA appoints new CEO01 June 2020, Published under Cement NewsRwandan cement company, CIMERWA, recently appointed Albert Kipkemoi Sigei as its new CEO, succeeding Bheki Mthembu, whose term ended. Mr Sigei, with more than 17 years of experience in the building materials sector, has a degree in Mechanical Engineering from the University of Nairobi, Kenya, as well as professional qualifications in accounting and information technology management. He comes to CIMERWA after a position as CEO of LafargeHolcim Malawi, following posts in Kenya, Egypt and Nig... |
Huaxin Cement acquires ARM Cement's Tanzanian unit20 May 2020, Published under Cement NewsThe Tanzanian unit of Kenya's ARM Cement has been sold to China's Huaxin Cement, according to its administrator PricewaterhouseCoopers. Huaxin is expected to invest US$116m into Maweni Limestone Ltd to settle liabilities and another US$30m to complete a plant construction and upgrade. "Securing a suitable investor with the ability to make the requisite investments and inject much-needed capital to boost Maweni's operations [...] was a top priority [...] given Maweni's dire financial si... |
Abay Cement plant now 60% complete19 May 2020, Published under Cement NewsThe construction of Abay Cement Factory in Amhara, Ethiopia, is now 60 per cent complete and will commence operations next year, according to Samuel Halala, director of the Ethiopian Chemical and Construction Inputs Industry Development Institute. The 2.5Mta project is being developed by Abay Industrial Development Association. On average, cement plants in the country are using around 60 per cent of their production capacity, stated Mr Halala. He also noted that the price of cement has su... |
Bamburi sees 37% drop in net profit in 201911 May 2020, Published under Cement NewsKenya-based Bamburi Cement has posted a 37 per cent YoY fall in net profit in 2019. Net profit declined to KES359m (US$3.39m) from KES572m in 2018. The company attributed the decrease in profit to reduced domestic cement consumption, low prices and an inability to access the Rwandan market due to the closure of the border with Uganda, denying its Uganda subsidiary Hima Cement access to the Rwandan market early last year. Bamburi’s revenues slipped by 1.2 per cent to KES36.79bn in 2019 fro... |
Celebrating industry excellence02 April 2020, Published under Cement NewsCemtech Middle East and Africa 2020 welcomed delegates from over 35 nations to the Grand Hyatt Dubai, UAE, on 16-19 February. The conference and exhibition offered a comprehensive overview of the regional cement industry and gave attendees the opportunity to network with cement producers and international industry specialists. The conference opened with a discussion of the GCC cement markets and global prospects The 15th Cemtech MEA conference and exhibition was successfully hel... |
Turbulent times for Africa?17 September 2019, Published under Cement NewsFor the cement sector, turmoil has probably come to a head in many parts of Africa. Cement demand has slowed or fallen back into the red in many African countries, while overcapacity and low utilisation rates are characteristic of many markets. However, much of this turmoil is self-inflicted. Tony Hadley provides an uncompromising assessment of the industry on the continent and examines the root causes of business failure in some key markets. By Tony Hadley African Advisory. A perfect... |
LafargeHolcim lines up Middle East Africa assets for US$8bn divestment08 February 2019, Published under Cement NewsJust a week after closing the US$1.75bn divestment of Holcim Indonesia, LafargeHolcim is understood to be contemplating the sale of its Middle East-Africa business unit, according to Bloomberg. The sale of the group's Middle East-Africa unit would take divestments well beyond the group's announced target of CHF2bn (US$2bn). In 2018 LafargeHolcim's Middle East-Africa operations are forecast to contribute 13.5 per cent (CHF816m) of group EBITDA and 11.2 per cent (CHF3090m) of group revenue ... |
National Cement continues to plot a successful course in east Africa28 January 2019, Published under Cement NewsThis week, China's Sinoma Energy Conservation announced that it has a contract with National Cement Co Ltd (Devki Group) to build a new waste-heat power project at its Athi River cement plant. The leading east African cement producer will provide a KES25.5bn (US$251m) investment for Sinoma to provide power for its Athi cement plant as well as a power unit for its raw steel processing factory in Mombasa. "The total installed capacity of the two projects is 53.5MW… The project (over a pe... |
Gunmen kill Dangote Cement's country manager in Ethiopia17 May 2018, Published under Cement NewsDeep Kamara, Dangote Cement’s country manager in Ethiopia, was killed by gunmen on Wednesday while returning to Addis Ababa from the facility which he managed in the country, according to Reuters. Reports suggest that Mr Kamara’s secretary and driver were also shot in the incident which occurred in the unstable Oromiya region. "The company’s director died following an attack by unknown gunmen that took place while he was returning to Addis Ababa from the factory alongside two company emp... |