Cement News tagged under: Tanzania

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Tanga Cement reduces loss

12 September 2018, Published under Cement News

Tanga Cement reported a net loss after tax of TZS1.8bn (US$ 788,135) for the first half of 2018, a marked improvement of its business results when compared to 1H17 when losses reached TZS14.6bn. The company’s operating profit for the six-month period reached TZS6.7bn, an advance when compared with the TZS4.3bn operating loss for the equivalent period in 2017. “Our interim half year results will be published in the coming two weeks….They will show you a clear picture of how our turnaroun...

Tanzania's Government says super-dealers must be kept in check

28 August 2018, Published under Cement News

Tanzania's Government has put out a strong message to the country's cement producers that their licenses will be revoked if they do not keep their super-dealer's price rises in check. Unwarranted price hikes are a feature of the market that the government is now seeking to stamp out. Mr Charles Mwiijage, trade and investment minister said, recent price hikes were the work of distributors who buy in bulk from super-dealers. The super-dealers are the middlemen who buy directly from the factor...

Dangote doubles output at its Tanzanian factory

21 August 2018, Published under Cement News

Dangote Cement has doubled its cement production in Dar es Salaam in response to Tanzania's cement shortage, which has resulted in higher cement prices. Routine maintenance at some factories has meant lower production and retail cement prices have risen from TZS12,000 (US$5.25) per 50kg bag to TZS22,000 (US$9.63) in recent weeks, reports The Citizen. Dangote Cement's Country Manager, Mr Jagat Rathee said the company has increased its output from 2500tpd to 5000tpd of cement. "We were s...

Cement prices rise in Tanzania as Twiga Cement suspends production

17 August 2018, Published under Cement News

Cement buyers in Tanzania are finding it difficult to buy adequate supplies of cement since Tanzania Portland Cement Ltd (Twiga Cement) suspended production on technical grounds. In July the price for a 50kg bag of cement was US$5.60 but is reported to have risen to US$8.70 (TZS TZS20,000, despite the fact Tanzania has 12 cement factories which produce approximately 7.1Mta. Cement buyers are reported to be turning to Kenya for cheaper imports of cement, according to KTN News.

Tanzania government meets with stakeholders over cement prices

16 August 2018, Published under Cement News

The Tanzanian government called an emergency meeting with stakeholders in Dar es Salaam to discuss the rising cement prices and the lack of product availability in the country’s market, according to a report in The Citizen. The closed-door meeting was chaired by the Deputy Minister for Industries, Trade and Investment, Stella Manyanya, who wanted producers to explain why there was scarcity of cement in the market. "We conducted a quick survey in the market and established that cement i...

ARM negotiating US$120m loan deal with IFC

12 July 2018, Published under Cement News

ARM Cement Ltd of Kenya is trying to reach an agreement with the International Finance Corp about a capital injection of US$120m in loans, acccording to ARM's Chief Executive Officer, Pradeep Paunrana. "Nobody just gives you US$120m without conditions," Mr Paunrana said. "We are in discussions, it is not a facility, it is a term sheet. There are conditions attached to this." The main conditions include a return to profitability and getting an equity investor during the next nine to 12 mont...

ARM Cement to relinquish Tanzania assets

18 June 2018, Published under Cement News

ARM Cement will include KES854.6m (US$8.45m) of additional assets in Tanzania to sweeten the deal for buyers of the company’s non-cement business, according to The Citizen. The company reached an agreement to sell its fertiliser and mineral production businesses in Kenya to Swiss firm Omya and Pinner Heights Ltd (PHL), a company owned by its CEO, Pradeed Paunrana, for KES1.6bn. Its latest annual report ARM said that the buyers could also acquire its non-cement operations in Tanzania for f...

Dangote Cement Group's revenue up 16% in 1Q18

25 April 2018, Published under Cement News

Dangote Cement group released its 1Q18 results and reported revenue up 16.3 per cent to NGN242.1bn (US$672m). This gives Dangote a market share of approximately 66 per cent. Group EBITDA rose by 22.2 per cent to NGN 125.9bn, while Pan-African EBITDA increased by 77.3 per cent to NGN13.1bn. In the domestic market of Nigeria, Dangote sold 3.7Mt of cement in the 1Q18, up 5.3 per cent on 1Q17 after slightly lower sales in January and February. Of Nigeria’s total 1Q18 sales, nearly 211,000t was...

Tanzania Portland Cement's profits fall to TZS35.5bn in FY17

03 April 2018, Published under Cement News

Tanzania Portland Cement Company Ltd (TPCC), also known as Twiga Cement, recorded a net profit of TZS35.5bn (US$15.6m) last year, lower than TZS39.8bn (US$17.6m) recorded in 2016.

 According to unaudited financial results for the year ending December 2017, the fall of net profit was a result of increase income tax, decrease in price and sale costs.

 Income tax nearly doubled to TZS30bn in 2017 from TZS17.6bn in 2016, while costs of sale also went up to TZS184bn from TZS170bn in 2016. ...

Investment minister explains cement price rises in Tanzania

21 March 2018, Published under Cement News

Tanzania's Trade and Investment minister Charles Mwijage has clarified the reasons behind the recent rise in building materials in the country. He explained that the local increase in cement prices was partly caused by a breakdown at the Dangote factory in Mtwara. Mr Mwijage added that the breakdown would be fixed within six to seven days. "Dangote is a game changer. They use the market penetration strategy. The approach is to manufacture more and distribute large quantities of cement coun...