Twiga Cement

Last updated
Tanzania Portland Cement Company Limited
Type Public
DSE:  TWIGA
Industry Cement
Founded1966;56 years ago (1966)
Headquarters Dar es Salaam, Tanzania
Key people
Hakan Gurdal
Chairman
Alfonso Velez
Managing Director
ProductsTwiga Cement
RevenueIncrease2.svgAftertax: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

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]

Contents

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
RankName of OwnerPercentage Ownership
1Government of Tanzania
39.4
2TPCPLC Employees
0.6
3Scancem International
41.0
4Swedfund 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
RankName of OwnerDomicilePercentage Ownership
1Scancem International DA Norway
69.25
2Parastatal Pension Fund Tanzania
5.42
3 Standard Chartered Bank Uganda Uganda
5.28
4Public Service Pension FundTanzania
1.76
5 National Social Security Fund Tanzania
1.24
6Murtaza Basheer NasserTanzania
0.90
7Umoja Unit Trust SchemeTanzania
0.79
8Sayed H. Kadri & GroupTanzania
0.59
9Government Employees Provident FundTanzania
0.56
10Said Salim Awadh BakhresaTanzania
0.51
119,487 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

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References

  1. 1 2 3 4 5 6 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. 1 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. 1 2 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.

Coordinates: 06°39′47″S39°10′03″E / 6.66306°S 39.16750°E / -6.66306; 39.16750

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