CIMERWA reports 20% sales increase

CIMERWA reports 20% sales increase
06 December 2019

Rwanda-based CIMERWA posted a 20 per cent YoY increase in its sales volumes and a 28 per cent growth in revenues to RWF514m (US$560,342) in the 9M2019, attributed to the maintenance and upgrade of its 0.6Mta cement plant in Rusizi, Western Province, in 2018.

CIMERWA currently produces 480,000t of cement, a significant advance when compared with an output of 364,864t of cement in 2018, less than 60 per cent of the country’s cement demand. Cement shortages saw domestic cement prices surge by 50 per cent in some parts of Rwanda. To meet the demand of 640,455t around 318,854t of cement was imported, according to data from the National Bank of Rwanda. In addition, the government subsidised the cement producer to increase its production.

However, CIMERWA attributed the result to stakeholder support and the ramp-up of the plant to achieve a capacity utilisation level of 80 per cent in 2019, compared to 65 per cent in 2018. By mid-2020 the company expects to lift this further to 90 per cent and achieve full capacity by mid-2021.

Published under Cement News

Tagged Under: Rwanda Cimerwa business result