Twiga Cement

Tanzania Portland Cement Company Limited (TPCC), also Twiga Cement is a cement-manufacturing company in Tanzania. It is the first company in Tanzania to start manufacturing cement; in 1966.[2]

Tanzania Portland Cement Company Limited

Type	Public
Traded as	DSE:: TWIGA
Industry	Cement
Founded	1966 (1966)
Headquarters	Dar es Salaam, Tanzania
Key people	Hakan Gurdal Chairman Alfonso Velez Managing Director
Products	Twiga Cement
Revenue	Aftertax:TZS:56.46 billion (US$25 million) (2018)[1]
Total assets	TZS:322.76 billion (US$141 million) (2018)[1]
Number of employees	285 (2018)[1]
Parent	Heidelberg Group
Website	Company website

As of 2020, Twiga Cement is a member of the Heidelberg Group and Twiga's shares of stock are listed on the Dar es Salaam Stock Exchange, where they trade under the symbol:TWIGA.[3]

Location

The factory of Tanzania Portland Cement Public Limited Company is located on Wazo Hill, along the Dar es Salaam–Bagamoyo Road, approximately 18 kilometres (11 mi), by road, northwest of downtown Dar es Salaam, Tanzania's commercial and financial capital.[4] The geographical coordinates of the Twiga Cement factory are:06°39'47.0"S, 39°10'03.0"E (Latitude:-6.663064; Longitude:39.167502).[5]

Overview

Twiga Cement is large cement manufacturer, that manufactures three brands of portland cement; (a) Twiga Ordinary (b) Twiga Plus+ and (c) Twiga Extra. In 2014, the factory expanded and increased its manufacturing capacity to 1,900,000 tonnes (2,094,391 tons) annually.[2]

According to the company's annual report, in December 2018, the company's total assets were TSh:322.76 billion (US$141 million), with shareholders' equity of TSh:224.94 billion (US$98 million). That year, the company employed 285 people.[1]

History

The company was founded in 1959 as Tanzania Portland Cement Company, producing its first bag of cement in mid-1966. It was a joint venture between Cementia AG of Switzerland, with 80 percent shareholding and the government of Tanzania, through the Tanzania Development Corporation, owning 20 percent. In 1967, the government increased its ownership to 50 percent. In 1973 the company was nationalized with the government of Tanzania now owning 100 percent of the company.[6]

In 1992, the government sold 13 percent ownership to Scancem International ANS of Norway and noter 13 percent to Swedfund International AB of Sweden. The government retained 74 percent ownership. In 1998 the company was re-privatized. At that time, the shareholding in the company was as illustrated in the table below.[6]

Twiga Cement Stock Ownership In 1998

Rank	Name of Owner	Percentage Ownership
1	Government of Tanzania	39.4
2	TPCPLC Employees	0.6
3	Scancem International	41.0
4	Swedfund International	19.0
	Total	100.0

Ownership

In 2006, the government of Tanzania divested from the company by floating its shareholding on the Dar es Salaam Stock Exchange, where the company stock trades under the symbol TWIGA.[7]

As of December 2018, the shareholding in the company stock was as depicted in the table below.[1]

Twiga Cement Shareholding As At 31 December 2018

Rank	Name of Owner	Domicile	Percentage Ownership
1	Scancem International DA	Norway	69.25
2	Parastatal Pension Fund	Tanzania	5.42
3	Standard Chartered Bank Uganda	Uganda	5.28
4	Public Service Pension Fund	Tanzania	1.76
5	National Social Security Fund	Tanzania	1.24
6	Murtaza Basheer Nasser	Tanzania	0.90
7	Umoja Unit Trust Scheme	Tanzania	0.79
8	Sayed H. Kadri & Group	Tanzania	0.59
9	Government Employees Provident Fund	Tanzania	0.56
10	Said Salim Awadh Bakhresa	Tanzania	0.51
11	9,487 Other Investors		13.70
	Total		100.00

Governance

Hakan Gurdal serves as the Chairman of the board of directors. Alfonso Velez serves as the Managing Director.[1]

See also

• Tanga Cement
• Cement in Africa

References

1. Twiga Cement (8 April 2019). "Annual Report for the Year Ended 31 December 2018". Dar es Salaam: Twiga Cement Limited. Retrieved 21 May 2020.
2. Phoebe Calver (2020). "Profile of Tanzania Portland Cement Company Limited (Twiga Cement)". Norwich, Norfolk, United Kingdom: Africa Outlook Magazine. Retrieved 21 May 2020.
3. Wilfred Edwin (17 September 2007). "Twiga Cement stops dividends, opts for $100m expansion". The East African. Nairobi. Retrieved 21 May 2020.
4. Google (21 May 2020). "Road Distance Between Downtown Dar es Salaam And Wazo Hill" (Map). Google Maps. Google. Retrieved 21 May 2020.
5. Google (21 May 2020). "Location of the Factory of Tanzania Portland Cement Public Limited Company" (Map). Google Maps. Google. Retrieved 21 May 2020.
6. Tanzania Portland Cement Company (22 May 2020). "History of Tanzania Portland Cement Company Limited". Dar es Salaam. Retrieved 22 May 2020.
7. Cement News (27 July 2006). "Government sells off Portland Cement, Tanzania". Cement.com. Retrieved 22 May 2020.

External links

• Official Webpage
• Company Page At Dar es Salaam Stock Exchange