Cement News tagged under: East Africa
Mbeya Cement Co Ltd appoints a new CEO12 July 2024, Published under Cement NewsMbeya Cement Co Ltd , a member of Amsons Group and building materials manufacturer, under the 'Tembo Cement' brand has appointed Dr Mohamed Ismail Elsaidy as its new CEO and member of the Executive Committee. Dr Elsaidy brings 25 years of multinational experience in heavy industry manufacturing and business management to the company. His appointment represents the company’s continued commitment to growth and value creation. |
Bamburi Cement receives acquisition deal11 July 2024, Published under Cement NewsAmsons Group, Tanzania's leading manufacturing and energy giant, has offered to acquire a 100 per cent share in Bamburi Cement of Kenya in a proposed US$180m deal. The offer has been made by the Amsons Industries (k) Ltd subsidiary to buy the shares at KES65 (US$0.51)/share. The cash offer represents a 42.39 per cent premium share price as of the closing of NSE trade in 9 July 2024. Bamburi Cement is currently majority owned by Holcim (58 per cent) and listed on the Nairobi Secur... |
Kenyan cement demand drops 13% in 4M2408 July 2024, Published under Cement NewsCement consumption in Kenya fell 12.7 per cent YoY to 1,949,900t in the 4M24 from 2,234,200t in the 4M23, according to the Kenya National Bureau of Statistics (KNBS). The drop in cement consumption raises significant concerns about construction activity.“During the quarter under review, the construction sector registered a decelerated growth of 0.1 per cent, down from the 3.0 per cent growth recorded in the first quarter of 2023,” said KNBS. In the first three months of 2023, construction g... |
Atlantic Group to open new plant in Madagascar28 June 2024, Published under Cement NewsAtlantic Group has laid the foundation stone on a new cement plant in Tamatava, Madagascar. This latest project forms part of the cement producer’s plans to develop its activities in the region, reports FratMat.Info. The new plant will have a cement production capacity of more than 500,000tpa and is expected to begin operations in the second quarter of 2025. To help protect the local environment, Atlantic has said that it intends to use cutting-edge technology to reduce the facility’s ... |
PPC FY23-24 results bolstered by strong Zimbabwe performance25 June 2024, Published under Cement NewsPPC has reported revenue of ZAR10,058m (US$551.8m) in FY23-24 (ended 31 March 2024), marking a 20.6 per cent increase from ZAR8339m in the same period a year earlier. According to the company, this was primarily driven by the strong performance in its Zimbabwean operations. EBITDA over the same time frame improved 38.6 per cent from ZAR896m to ZAR1242n, with the EBITDA margin up 1.6 percentage points to 12.3 per cent in FY23-24. In the South Africa and Botswana business, cement revenue... |
Dangote ramps up investment in Zambia with second plant24 June 2024, Published under Cement NewsDangote Cement has announced plans to double its investment in Zambia by building a second cement plant. The company has already constructed one plant in Masaita at a cost of US$450m but this investment will now be boosted to US$900m with plans for a second facility, reports The Guardian. The Masaita works is designed to have a cement production capacity of 1.5Mta and is scheduled to reach full capacity by the end of 2024. The new plant is expected to be commissioned soon. |
Khayah Cement highlights energy challenges20 June 2024, Published under Cement NewsKhayah Cement has said high energy costs along with cheap imports are threatening Zimbabwe’s cement producers, reports AllAfrica. According to the company, although power supply has remained relatively stable, power voltage fluctuations continue to affect the smooth running of its cement plant. “The high power costs compared to neighbouring Zambia continue to pose a significant challenge,” said Arnold Chikazhe, company secretary, Khayah Cement. According to Mr Chikazhe, c heaper cement... |
PPC Africa predicts 20% YoY increase in earnings17 June 2024, Published under Cement NewsPPC Africa has predicted a 20 per cent increase in earnings for the fiscal year ended 31 March 2024, driven by a strong performance by its Zimbabwe operations. According to The Zimbabwe Mail, the previous year saw PPC Zimbabwe hit by a prolonged kiln shutdown, which had a negative impact on profit. Compared to that prior year, the latest fiscal is expected to see the headline earnings per share jump by 20 per cent. In the 10 months to January 2024, PPC Zimbabwe reported volumes up by ... |
Chilanga Cement inaugurates kiln upgrade17 June 2024, Published under Cement NewsZambia-based Chilanga Cement has inaugurated its Ndola kiln upgrade project. The project will not only enhance the cement plant’s production capacity but also its environmental sustainability. According to News Invasion 24, the upgrade will enable greater use of renewable energy sources as well as improving product standards. Jianping Chai, CEO of Chilanga Cement, said the investment confirms the company’s dedication to fostering economic growth in the region. The project is reported... |
Kenya's cabinet approves sales of its share in East African Portland Cement13 June 2024, Published under Cement NewsKenya's cabinet has approved a government proposal to offload the 25.3 per cent share it holds in Kenya-based cement manufacturer, East African Portland Cement Co . This comes as part of a wider plan by the Kenyan government to offload shares in a number of state-owned companies. In November, the country’s President, William Ruto, announced plans to privatise 35 state-controlled companies after enacting legislation in October guiding this process. However, this plan did run into issue... |