Cement News tagged under: Tanzania
Tanzania government meets with stakeholders over cement prices16 August 2018, Published under Cement NewsThe 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 IFC12 July 2018, Published under Cement NewsARM 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 assets18 June 2018, Published under Cement NewsARM 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 1Q1825 April 2018, Published under Cement NewsDangote 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 FY1703 April 2018, Published under Cement NewsTanzania 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 Tanzania21 March 2018, Published under Cement NewsTanzania'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... |
Tanzania Portland Cement given ultimatum over dust emissions08 March 2018, Published under Cement NewsTanzania Portland Cement Company Ltd (TPCCL) has been issued a two-month ultimatum from the government to improve its dust control or face a ban. The Deputy Minister of State in the Vice President's Office (Union and Environment), Alphaxard Kangi Lugola, said local residents in Dar es Salaam faced health concerns due to the dust emissions from the plant. "Having listened from both sides, I am now convinced that the dust problem is real. I am, therefore giving a two-month ultimatum for the ... |
Tanga Cement wins awards from the NBAA12 December 2017, Published under Cement NewsTanga Cement has won an award for the ‘Best Presented Financial Statements’ from the National Board of Accountants and Auditors Board (NBAA), reports All Africa. This is the second year running that the company has received the award, which was presented at the NBAA gala dinner in Dar es Salaam. In addition, Tanga Cement won in the manufacturing category. "As a leading producer of cement, our most top priority is on quality. We put quality above the rest... and these awards can bear witness... |
New 7Mta cement facility planned in Tanzania06 December 2017, Published under Cement NewsTanzania is expected to see the construction of a new 7Mta cement plant as part of a two-phase US$2.35bn Chinese investment over 10 years that will also include the building of a coal-fired power station. Some US$1bn will be invested in a new cement works in the first five years of the initiative, according to the Tanzania Investment Centre (TIC). Sinoma and Hengya Cement’s new plant is expected to raise capacity in the country to 17.8Mt. Tanzania’s government expects to earn at least US... |
Will ARM secure a firmer financial footing?17 November 2017, Published under Cement NewsThe increasing trend of African sector mergers reflects the tightening economic pressures on African cement producers and their challenging prospects going forward. In the past week, ICR has reported on the merger between Unicem and Atlas Cement in Nigeria as well as CRH's interest in acquiring PPC Cement of South Africa. Meanwhile, the Kenyan and Tanzanian markets could also see a change in structure with ARM looking for new investors to stave off becoming the latest takeover target. ... |