Cement News tagged under: Cimerwa

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Rwanda's cement shortage sparked by classroom building

21 July 2020, Published under Cement News

Cimerwa is seeing a sharp rise in cement prices in Rwanda, following a cement shortage that has been driven by the Ministry of Education's programme for 20,000 classrooms to be built before September in the country. Cement prices have climbed from RWF8500 (US$8.92) to RWF13,000 (US$13.64) in recent days. Cimerwa's retail prices for cement are lower at RWF8800 for Surewall, RWF9800 for Surecem and RWF10,800 for Surebuild. The company expressed displeasure at traders selling cement at h...

CIMERWA to list on stock market

02 June 2020, Published under Cement News

CIMERWA 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 CEO

01 June 2020, Published under Cement News

Rwandan 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...

CIMERWA reports 20% sales increase

06 December 2019, Published under Cement News

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 b...

PPC

28 August 2019, Published under Cement News

South Africa’s PPC has failed to submit a bid for the Rwandan government’s 46 per cent stake in cement producer Cimerwa, forcing the government to seek an alternative investor. PPC had indicated it would be making a bid and was given until 5 July 2019 to do so. Cimerwa has been persistently underperforming for a number of years now, manufacturing just 364,864t of cement in 2018, despite its production capacity of 0.6Mta. Meanwhile, cement demand in Rwanda has grown steadily on the back of...

Government extends deadline for Cimerwa stake

18 July 2019, Published under Cement News

The Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwandan government had initially given PPC an opportunity to buy the remaining shares . According to...

PPC

27 June 2019, Published under Cement News

PPC, the majority shareholder in Cimerwa cement, is considering buying the Rwandan government’s stake in the company. PPC has held a 51 per cent share in Cimerwa since 2012. The Rwandan government has a 16.54 per cent share, held through Agaciro Development Fund, Rwanda’s sovereign wealth fund. Other shareholders include the Rwanda Social Security Board (20.24 per cent), Rwanda Investment Group (11.45 per cent) and Sonarwa Group (0.76 per cent).  The government has set the deadline of 5 J...

PPC to consider buying remaining stake in Cimerwa

26 June 2019, Published under Cement News

Cimerwa's main shareholder, Pretoria Portland Cement Co (PPC), is considering buying the shares in Cimerwa that are currently held by the Rwandan government and minority shareholders. The government has set a deadline of 5 July for investors to bid for its stake in Cimerwa.

 The Rwandan government hold a 16.54 per cent share in the cement producer and PPC owns 51 per cent of the company, while the Rwanda Social Security Board (20.24 per cent), Rwanda Investment Group (11.45 per cent) and S...

Rwandan government to divest Cimerwa stake

11 March 2019, Published under Cement News

The state of Rwanda has put up its 49 per cent stake in Cimerwa up for sale, according to an announcement made by the country’s Prime Minister, Edouard Ngirente on 9 March 2019. An auction will be organised at the end of the month. South Africa-based PPC currently holds a majority stake of 51 per cent in the Rwandan cement producer, but has not expressed an interest in acquiring the 49 per cent shareholding for sale. Cimerwa operates a 0.6Mta integrated plant in Rusizi. The government is ...

Cimerwa hires consultants to improve house construction projects

17 August 2018, Published under Cement News

Rwanda's largest cement manufacturer, Cimerwa, has hired three construction consultants with an aim to improve standards in the property market. The consultants offer free advice to Cimerwa clients, largely on issues related to which material to use when constructing a house or implementing any construction project. The initiative was unveiled during the just-concluded Rwanda International Trade Fair, commonly known as the Expo. Cimerwa officials said that the partnership with the consultan...