Tanzania: Twiga Cement acquires limestone firm Mamba for $16mln
Tanzania Portland Cement Company (TPC Plc), also known as Twiga Cement, acquired a 95 percent stake in limestone extractor Mamba Cement Company for Tsh42 billion ($15.94 million).
According to the company's latest annual report for 2024, the acquisition aims to secure access to vital limestone reserves — a key raw material for cement production — and to strengthen Twiga Cement's financial position.'During the year, TPC Plc acquired a controlling interest in Mamba Cement Company Limited, a company whose principal activity is to extract limestone,' Twiga says.
The investment provides the company with access to significant limestone deposits, addressing limited reserves at its current quarry at the Tegeta–Wazo Hill in Dar es Salaam.'This will give the company access to the largest limestone deposits near Dar es Salaam, approximately 125km from TPC Plc plant.'The shares were acquired from United Arab Emirates-based Sura Holdings Ltd, a private investment company with extensive operations in regional economies, international markets and various industry sectors.
The transaction comprised a cash investment of Tsh39.69 billion ($15.06 million) and Tsh2.32 billion ($880,672) for the transfer of property, plant and equipment.'The acquisition was done with the intention of vertical integration of Mamba Cement's operations with TPC Plc,' the company said.
Dividend payoutDespite a 42.9 percent decline in net profit, the Dar es Salaam Stock Exchange (DSE)-listed company enhanced its dividend payout to shareholders by 53.84 percent to Tsh107.95 billion ($40.97 million), or Tsh600 ($0.22) per share. This is an increase on the Tsh70.17 billion (Tsh390 per share) paid in 2023.
The dividend is expected to be approved by shareholders and paid in June 2025.
The company recorded a net profit of Tsh56.67 billion ($21.51 million) in 2024, down from Tsh99.18 billion ($37.64 million) the previous year.
Its total revenues declined by 8.5 percent to Tsh448.58 billion ($170.28 million) in last year, down from Tsh490.17 billion ($186.06 million) in 2023, attributed to overall market shrinkage and increased competition.
Production costs, particularly those relating to energy and raw materials, also strained profitability. Twiga's clinker production declined by 1.4 percent during the year, while cement output increased by a marginal 0.3 percent.
Tanzania's cement market is highly competitive, with 13 plants operating below 60 percent capacity utilisation as of December 2024.'Despite a challenging market environment and higher energy and raw material prices, cash inflow from operating activities in the 2024 financial year increased by 13.6 percent to Tsh108.6 billion ($41.22 million) from Tsh95.6 billion ($36.28 million) in 2023, surpassing the previous year's level. This improvement was primarily driven by better working capital management compared to the prior year,' the company says.
© Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
a day ago
- Zawya
Powering Women's Economic Transformation in Tanzania
In Kigoma, Tanzania, where over 80 per cent of livelihoods rely on small-scale farming, fishing, and informal trade, women constitute the majority of the agricultural workforce and are the backbone of the region's economy. However, in an increasingly digital economy, limited digital literacy remains a major barrier to unlocking women's full economic potential, with many women in the region lacking the necessary skills to use mobile platforms, digital financial services, or online marketplaces, impeding the growth and formalization of women-led businesses. Amid these challenges, women like Chichi Ramadhani Kamandwa are increasingly harnessing digital tools to grow their businesses. A 39-year-old mother of three and a determined entrepreneur living in Kigoma town, Kamandwa runs a small-scale agro-processing business specializing in the milling and packaging of maize, cassava, and nutrient-rich flours. In 2024, she participated in a Digital Literacy and Branding workshop organized by UN Women to equip women entrepreneurs in the region with practical skills to expand their businesses and access wider markets through digital platforms. The initiative formed part of the second phase of the UN Kigoma Joint Programme (KJP II) - a collaborative effort of 17 UN agencies working with local authorities and communities to advance development and human security in Kigoma - and engaged beneficiaries of UN Women's "Binti Dijitali" African Girls Can Code Initiative (AGCCI), who facilitated sessions with hands-on technical expertise and peer-led guidance. 'Before the training, I only used my phone for calls and taking pictures. I didn't know it could be a marketing tool for my business, helping me showcase my products online, reach more customers, and improve my record-keeping,' said Kamandwa. With the skills she has acquired, Chichi is now transforming her business. 'I learned how to create product labels, list ingredients and registration numbers to build customer trust, and package my products attractively,' said Kamandwa, adding that the most beneficial change she made was improving my packaging. 'I realized how much the look of a product matters. After updating my logo and labels and switching to better-quality packaging, my sales increased significantly, because customers had more confidence in my brand,' she explains. Kamandwa also began using accessible platforms such as WhatsApp to reach new customers, advertise her products, and receive orders. In Kigoma, many women entrepreneurs navigate complex social and economic realities. Alongside their business efforts, they often carry the primary responsibility for household care and income generation, frequently without consistent support from partners. 'Once a woman begins to earn, she is often left to shoulder everything alone,' Kamadwa explains. 'Some men leave for work in other towns, return only briefly, and then leave again, while the woman is left behind to care for the children, run the household, and manage her business on her own.' Additionally, limited access to financial services or reliable support systems leaves women vulnerable to unfair treatment or exploitative arrangements, particularly when trying to access markets or services. 'When you lack information or tools, people take advantage of you,' says Kamandwa. Through strategic partnerships with local government authorities, trade officers, mobile service providers, and private sector actors, UN Women, under KJP II, is working to create an inclusive and enabling business environment for women and youth. 'Initiatives such as the digital literacy workshop aim to strengthen the capacity of women-led enterprises to adopt innovative, market-driven practices, build resilience, and transition into formal markets for sustainable growth,' says Ms. Lilian Mwamdanga, UN Women Specialist for Women's Economic Empowerment. According to Kamandwa, the benefits of workshops like these extend well beyond the knowledge they gain. They create opportunities for women to connect with peers, share experiences, and establish lasting support networks. 'We have even formed small groups to support and uplift one another,' she shares. 'I have also started teaching other women how to use their phones for business. It might seem like a small thing, but it can really transform how we work and sell.' The use of digital platforms has also empowered women like Kamandwa to manage their sales independently, reducing reliance on informal and often unreliable intermediaries. With increased visibility and growing sales, Kamandwa has expanded her inventory and begun selling her products in bulk. She also hopes to continue mentoring others and to start providing training for young women interested in business, so they too can build a future of their own. 'If I can do this, I believe other women can too. We just need the right support and a chance to grow,' she says. Distributed by APO Group on behalf of UN Women - Africa.
Zawya
a day ago
- Zawya
How New Regional Pipeline Deals are Driving Africa's Energy Future
Three significant developments in Africa's energy landscape made headlines this past month: the East African Crude Oil Pipeline (EACOP) reached 60% completion, the Republic of Congo finalized a pipeline cooperation agreement with Russia, and Nigeria and Equatorial Guinea signed a deal to advance a joint natural gas pipeline. These milestones underscore increasing momentum behind transnational pipeline projects in Africa, which are not only critical to unlocking hydrocarbon value chains, but also pivotal to industrial growth, regional cooperation and efforts to end energy poverty. With African Energy Week (AEW) 2025: Invest in African Energies set to take place in Cape Town from September 29 to October 3, recent advances in the midstream sector underscore the growing role of large-scale infrastructure in securing Africa's energy future. AEW 2025 will provide a platform to unpack how strategic partnerships and regional integration can transform pipelines from isolated projects into engines of inclusive development. EACOP: Connecting Uganda to Global Markets The 1,443-km EACOP is set to link Uganda's oil fields in the Lake Albert region to the port of Tanga in Tanzania, facilitating the export of up to 246,000 barrels per day. With 60% of the project now completed – including land acquisition, environmental approvals and construction – EACOP is on track to become the longest heated crude oil pipeline in the world. More than just a logistical asset, EACOP represents a critical economic corridor. It is expected to generate thousands of jobs, stimulate local content and unlock ancillary infrastructure such as roads, storage facilities and power lines. By enabling Uganda to monetize its crude reserves, the pipeline also enhances fiscal revenues that can be reinvested into energy access, education and healthcare. At AEW 2025, stakeholders will explore how flagship projects like EACOP can be used as case studies for balancing investment, environmental responsibility and community development, while ensuring African nations retain sovereignty over their resources. Russia-Congo Deal: A New Axis in Pipeline Diplomacy Just days after the EACOP update, Russia ratified a bilateral agreement with the Republic of Congo for the construction of the Pointe-Noire-Loutete-Maloukou-Trechot oil pipeline. The agreement lays the groundwork for joint efforts in planning, financing, construction and operation of the pipeline, set to be completed in three years. The move strengthens energy ties between the two countries and opens the door for Russian investment in Congo's midstream sector, potentially accelerating the development of critical infrastructure needed to monetize and export the country's hydrocarbon resources. It also signals a shift in Africa's external energy partnerships, with Congo turning to non-Western allies to build out its infrastructure and secure long-term offtake agreements. It reinforces the idea that diversified geopolitical engagement can help African nations close the infrastructure gap faster, provided partnerships are structured transparently and with shared development objectives. As African countries look to strengthen global cooperation, AEW 2025 will offer a space to evaluate new alliances, discuss risk-sharing mechanisms and align infrastructure development with continental priorities under the African Union's Agenda 2063. Nigeria-Equatorial Guinea: A Boost for West African Gas Integration A recent agreement between Nigeria and Equatorial Guinea, signed on June 18, aims to fast-track the development of a joint natural gas pipeline, designed to increase cross-border gas trade and support export capacity. This project is expected to deepen energy cooperation between the two countries, facilitate access to cleaner fuels and contribute to the diversification of energy sources in the region. It also exemplifies how collaborative infrastructure development can unlock new economic opportunities, stimulate investments and enhance regional energy security. Midstream infrastructure companies are also stepping up efforts to improve regional gas trade and distribution. The West African Gas Pipeline Company, backed by Chevron among other shareholders, operates a vital pipeline that transports Nigerian gas to Benin, Togo and Ghana. This pipeline supports power generation and industrial use across multiple West African countries and plays a key role in diversifying the regional energy mix and promoting cross-border gas trade. Meanwhile, the Republic of Mozambique Pipeline Investments Company, which manages the Mozambique-South Africa Gas Pipeline, recently opened a new office in Maputo, aiming to strengthen regional gas connectivity and market integration. Pipelines and the Fight Against Energy Poverty While Africa accounts for 17% of the global population, it accounts for just 3.3% of global power generation. Energy poverty remains a major constraint on industrialization, education, healthcare and entrepreneurship. Pipelines, by moving fuel to where it is needed most – across borders and into domestic markets – can help address this imbalance. 'In addition to exporting crude, new pipelines have the potential to deliver LPG and natural gas to underserved regions, reducing dependence on biomass and accelerating the shift toward cleaner household and industrial energy,' says NJ Ayuk, Executive Chairman, African Energy Chamber, adding that coordinated planning between countries can ensure pipelines are multi-purpose and scalable, with clear economic multipliers for local populations. 'AEW 2025 will shine a light on the role of pipelines in achieving universal energy access, examining regulatory frameworks, project finance models and technology solutions that can make these developments more inclusive and efficient,' he notes. Distributed by APO Group on behalf of African Energy Chamber. AEW: Invest in African Energies AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Zawya
a day ago
- Zawya
Powering Women's Economic Transformation in Kigoma
In Kigoma, Tanzania, where over 80 per cent of livelihoods rely on small-scale farming, fishing, and informal trade, women constitute the majority of the agricultural workforce and are the backbone of the region's economy. However, in an increasingly digital economy, limited digital literacy remains a major barrier to unlocking women's full economic potential, with many women in the region lacking the necessary skills to use mobile platforms, digital financial services, or online marketplaces, impeding the growth and formalization of women-led businesses. Amid these challenges, women like Chichi Ramadhani Kamandwa are increasingly harnessing digital tools to grow their businesses. A 39-year-old mother of three and a determined entrepreneur living in Kigoma town, Kamandwa runs a small-scale agro-processing business specializing in the milling and packaging of maize, cassava, and nutrient-rich flours. In 2024, she participated in a Digital Literacy and Branding workshop organized by UN Women to equip women entrepreneurs in the region with practical skills to expand their businesses and access wider markets through digital platforms. The initiative formed part of the second phase of the UN Kigoma Joint Programme (KJP II) - a collaborative effort of 17 UN agencies working with local authorities and communities to advance development and human security in Kigoma - and engaged beneficiaries of UN Women's African Girls Can Code Initiative (AGCCI), who facilitated sessions with hands-on technical expertise and peer-led guidance. 'Before the training, I only used my phone for calls and taking pictures. I didn't know it could be a marketing tool for my business, helping me showcase my products online, reach more customers, and improve my record-keeping,' said Kamandwa. With the skills she has acquired, Chichi is now transforming her business. 'I learned how to create product labels, list ingredients and registration numbers to build customer trust, and package my products attractively,' said Kamandwa, adding that the most beneficial change she made was improving my packaging. 'I realized how much the look of a product matters. After updating my logo and labels and switching to better-quality packaging, my sales increased significantly, because customers had more confidence in my brand,' she explains. Kamandwa also began using accessible platforms such as WhatsApp to reach new customers, advertise her products, and receive orders. In Kigoma, many women entrepreneurs navigate complex social and economic realities. Alongside their business efforts, they often carry the primary responsibility for household care and income generation, frequently without consistent support from partners. 'Once a woman begins to earn, she is often left to shoulder everything alone,' Kamadwa explains. 'Some men leave for work in other towns, return only briefly, and then leave again, while the woman is left behind to care for the children, run the household, and manage her business on her own.' Additionally, limited access to financial services or reliable support systems leaves women vulnerable to unfair treatment or exploitative arrangements, particularly when trying to access markets or services. 'When you lack information or tools, people take advantage of you,' says Kamandwa. Through strategic partnerships with local government authorities, trade officers, mobile service providers, and private sector actors, UN Women, under KJP II, is working to create an inclusive and enabling business environment for women and youth. 'Initiatives such as the digital literacy workshop aim to strengthen the capacity of women-led enterprises to adopt innovative, market-driven practices, build resilience, and transition into formal markets for sustainable growth,' says Ms. Lilian Mwamdanga, UN Women Specialist for Women's Economic Empowerment. According to Kamandwa, the benefits of workshops like these extend well beyond the knowledge they gain. They create opportunities for women to connect with peers, share experiences, and establish lasting support networks. 'We have even formed small groups to support and uplift one another,' she shares. 'I have also started teaching other women how to use their phones for business. It might seem like a small thing, but it can really transform how we work and sell.' The use of digital platforms has also empowered women like Kamandwa to manage their sales independently, reducing reliance on informal and often unreliable intermediaries. With increased visibility and growing sales, Kamandwa has expanded her inventory and begun selling her products in bulk. She also hopes to continue mentoring others and to start providing training for young women interested in business, so they too can build a future of their own. 'If I can do this, I believe other women can too. We just need the right support and a chance to grow,' she says. Distributed by APO Group on behalf of UN Women - Africa.
