Cement News tagged under: East Africa
CIMERWA set to list shares on stock exchange30 July 2020, Published under Cement NewsRwandan cement producer CIMERWA is set to list its shares on the Rwandan Stock Exchange on 3 August, the company said in a press statement. Each share is trading at RWF120 (US¢12.6), the government expects to raise a total of RWF41.3bn. The step is part of the government to sell its stake in the cement company, joining other shareholders that have expressed an interest in exiting from the business. The government owns a stake through Agaciro Development Fund, Rwanda Social Security Board, ... |
East Africa: keeping the lights on28 July 2020, Published under Cement NewsWith overcapacity and pricing pressures weighing in on the east African cement industry, cement producers are setting their sights on the return of strong demand by 2023. In the meantime, will they prepare by taking up a stronger position, possibly through industry consolidation? By Standard Investment Bank, Kenya. The Tanzanian cement industry is expected to see an improving landscape from 2021 The East African Community (EAC) recorded real GDP growth of 5.9 per cent in 2019, s... |
Dangote's 1H20 results see 2% revenue growth27 July 2020, Published under Cement NewsDangote Cement reported group revenue up two per cent to NGN476.9bn (US$1.23bn) in the 1H20. Group EBITDA rose to NGN218.1bn and pan-African EBITDA increased by 31.6 per cent to NGN31.5bn. Profit before tax was up 4.7 per cent to NGN162.9bn and net debt stood at NGN372.1bn at the end of 30 June 2020. Michel Puchercos, Group CEO, said: "I am humbled by the fact that we continue to be in a strong position despite the economic downturn that the world is facing due to COVID-19. Although April ... |
Twiga sees 33% rise in net profit for 1H2022 July 2020, Published under Cement NewsTanzania Portland Cement (Twiga) has reported a 33 per cent YoY increase in net profit to TZS34.94bn (US$15.05m) in the first half of 2020, against TZS26.19bn in the 1H19. "Despite strong competition in the cement manufacturing industry and uncertainties brought about by COVID-19, [we] delivered a strong operational result compared to [last year]," said Hakan Gurdal, chairman. The company also saw a 13 per cent rise in revenue to TZS181.45bn. "[We are] well positioned to meet this growin... |
Ethiopia starts online cement sales14 July 2020, Published under Cement NewsCement customers in Ethiopia can now gain access to buying cement online with the start-up of Dumbulo Shopping Solutions. The online shopping platform founded by Dr Gemechu Waktola will boost cement sales in the region around Addis Ababa. The company has entered into an agreement with National Cement, which has a central cement warehouse in Addis Ababa, and is in discussions with other cement producers. "Big investment projects and government infrastructure development projects can dir... |
Rwanda's Prime Cement set to begin operations14 July 2020, Published under Cement NewsA new cement plant under construction in Musanze, Rwanda, is set to begin marketing its product next month. Prime Cement Ltd is expected to begin production at around 50,000tpm or 600,000tpa of cement. "Preparations are on high gear. Most of the equipment and machinery are in their place and a few remaining are on their way from Mombasa. No wonder, we shall be on the market next month," said Eric Rutabana, the plant manager. The works is expected to begin selling cement at RWF9000/bag (U... |
The dangers of debt13 July 2020, Published under Cement NewsIn this month’s Technical Forum, Dr Michael Clark considers how the history of the Kenyan cement industry can serve as a case study for some of the dos and don’ts of the sector. Going forward, impaired sales performances may increase company debt levels but this is far from the only reason why debt can be easily accrued. ARM Cement fell into bankruptcy after building up debt through an ambitious expansion programme and then being hit by both a demand contraction and price war in 20... |
Mozambique's new 1.8Mta plant now 90% complete13 July 2020, Published under Cement NewsMozambique's Minister of Industry and Trade, Carlos Mesquita, has visited the site of the new 1.8Mta Dugong Cimentos plant in Matutuine, noting that when commissioned it should lead to a downward pressure on prices, according to All Africa. The plant is now 90 per cent complete and represents a Chinese investment of around US$330m. It will use around 400,000tpa of coal in its production process. "We recognise that this cement factory, when it comes into production, will, without a doubt... |
Bamburi Cement donates KES15.6m in the fight against COVID-1913 July 2020, Published under Cement NewsBamburi Cement (LafargeHoldim group) has donated KES15.6m (US$145,600) in the fight against coronavirus to the Kenyan government's COVID-19 Emergency Response Fund. KES5m of the donation is a direct cash contribution for immediate assistance, KES5.2m is directed at personal protective equipment (PPE) and KES2.4m will support communities in Mombasa, Kilifi, Machakos, Kwale and Kjiado which need water tanks for hand washing, face masks and hand sanitisers. A further KES3m is set aside for f... |
Maweni Limestone upgrades kiln line09 July 2020, Published under Cement NewsHuaxin Cement’s Maweni Limestone subsidiary has ignited the kiln and begun trial production at its recently-upgraded 0.75Mta plant. Huaxin Cement acquired the Tanzanian company in May this year and began work on the kiln line on 1 June. The grinding section of the facility is not expected to be upgraded. Subject to developments related to the COVID-19 pandemic, Huaxin is now planning to send a management team to implement the advanced cement process technology, according to reports. |