Cement News tagged under: Rwanda

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Rwanda's Prime Cement set to begin operations

14 July 2020, Published under Cement News

A 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...

East African prospects

16 June 2020, Published under Cement News

The east African cement markets of Uganda, Rwanda, Malawi and Burundi have continued to experience rising levels of cement consumption over recent years with investments in infrastructure and affordable housing. However, the COVID-19 crisis is likely to take its toll on cement consumption growth in 2020. Uganda has both one of the largest economies and cement industries in East Africa, with capacity growth fuelled by growing confidence on the back of expected oil revenues The...

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...

Bamburi sees 37% drop in net profit in 2019

11 May 2020, Published under Cement News

Kenya-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...

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...