Tanzania Cigarette Company

Last updated
Tanzania Cigarette Public Limited Company
Type Public limited company
DSE:  TCC
ISIN TZ1996100032
Industry Tobacco
Founded1961;62 years ago (1961)
HeadquartersDar es salaam, Tanzania
Area served
Tanzania and Neighboring countries
Key people
Mr. Takashi Araki
(Chairman & CEO)
Products Cigarettes
RevenueIncrease2.svg TSh 499.5 billion (2016)
Decrease2.svg TSh 95.3 billion (2016)
Increase2.svg TSh 68.7 billion (2016)
Number of employees
445+ [1]
Parent Japan Tobacco International
Subsidiaries TCC (Kenya) Ltd.
Website TCC PLC Profile

Tanzania Cigarette Company Ltd. ("TCC"; DSE: TCC) is a tobacco company operating in Tanzania. The company started operations in 1961 as the East African Tobacco. Years later the government bought a large stake in the company and nationalized the company during the Ujamaa movement in 1975. [2] [3]

Contents

TCC has been listed on the Dar es Salaam Stock Exchange since 16 November 2000. 75% of the company is owned by Japan Tobacco International. [4]

History

Incorporation

The Company was established as East African Tobacco in 1961. [3] The factory was officially opened by Mwalimu Julius K. Nyerere on December 4, 1961. [5] The Company now British American Tobacco (BAT) operated the company post-independence. In 1967, the government of Tanzania acquired a 60% stake in the company. During the socialist movement in Tanzania, in 1975 the government acquired the renaming 40% of the stake from the company and becomes the sole owner of the company. The company is renamed to Tanzania Cigarette Company ltd. [5]

Privatization

After years of poor operation and management, the government sells 51% of its stake in the company to RJ Reynolds in 1995. As part of its purchase of some of the assets of RJ Reynolds in 1999, Japan Tobacco Inc. (JT) acquired a 51% interest in TCC. In September 2000, JT purchased an additional 24% of the shares through its international tobacco division, Japan Tobacco International (JTI), increasing its holdings to 75% of the shares. [3] [6]

Public offering

Months after the acquisition of TCC by Japan Tobacco International, TCC was listed on the Dar Brouse with JTI still holding a 75% majority stake.

Corporate affairs

TCC is the only producer of cigarettes in the country. In 2011 TCC brands conquer 90% of the Tanzanian market, while 5% is controlled by British American Tobacco whose factory is in neighboring Kenya, and 5% by foreign brands. [7]

Ownership

Tanzania Cigarette Company (TCC:DSE) is traded on the Stock Exchange since November 2000. Japan Tobacco International has held majority stake of 75% since September 2000. [8]
As of December 2016 the stock of TCC is owned by the following institutions: [5]

ShareholderInterest
JT International Holding B.V. 75.0%
Kingsway Fund9.3%
General Public7.0%
Parastatal Pension Fund (PPF)3.0%
Government of Tanzania 2.2%
Public Service Pension Fund (PSPF)1.0%
Others2.5%

Below are the recent business trends for TCC. TCC financial year ends on 31 December.

2010201120122013201420152016
Gross Turnover (TSh million)321,777376,778422,594445,633461,720496,675499,457
Net Sales (TSh million)211,008250,344281,419290,601283,910300,550300,962
Net Income (TSh million)60,20070,94285,94178,05868,60065,71168,669
Debt Ratio (TL/TA)27%27%27%27%28%24%27%
Dividend per share (TSh)300/=600/=750/=750/=650/=600/=600/=
Notes/sources [5] [5] [5] [5] [9] [5] [10] [11] [5] [10]

Brands

See also

Related Research Articles

Precision Air Services Plc is a Tanzanian airline based at Julius Nyerere International Airport in Dar es Salaam. The airline operates scheduled passenger services to Nairobi, Entebbe, and to various airports and airstrips throughout Tanzania.

Gallaher Group was a United Kingdom-based multinational tobacco company which traded on the London Stock Exchange and was a constituent of the FTSE 100 Index, prior to its acquisition by Japan Tobacco in April 2007. Japan Tobacco trades in the United Kingdom as Gallaher Ltd.

<span class="mw-page-title-main">Dar es Salaam Stock Exchange</span> Stock exchange in Tanzania

The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association and the World Federation of Exchanges. The exchange is open five days a week, from Monday through Friday. The trading days are weekly from Monday to Friday, starting from 10.00 am to 14.00 pm.

<span class="mw-page-title-main">LD (cigarette)</span> Russian cigarette brand

LD is an international brand of cigarettes, currently owned by Japan Tobacco. In the United States, it is manufactured in Turkey for JT International U.S.A.

<span class="mw-page-title-main">Vodacom Tanzania</span>

Vodacom Tanzania Limited is Tanzania's leading cellular network company. As of December 2020, Vodacom Tanzania had over 15.6 million customers and was the largest wireless telecommunications network in Tanzania. Vodacom Tanzania is the second telecom company in Africa, after Vodacom, to switch on its 3G High-Speed Downlink Packet Access (HSDPA) which was available only in Dar Es Salaam in early 2007.

<span class="mw-page-title-main">Airtel Tanzania</span>

Airtel Tanzania Limited is the third-largest mobile network operator in Tanzania operated by Airtel Africa, which is a subsidiary of Bharti Airtel of India, behind Vodacom Tanzania and Tigo Tanzania. As of September 2017, Airtel Tanzania had 10.6 million voice subscribers. As of December 2017 according to data provided by the Tanzania Communications Regulatory Authority, Airtel Tanzania controlled 27.1 percent of Tanzania's mobile telephone market by customer numbers, at that time estimated at 10.86 million.

<span class="mw-page-title-main">MIC Tanzania Limited</span>

Tigo is a telecommunication company in Tanzania.

<span class="mw-page-title-main">Jubilee Insurance Company Limited</span> Insurance company in Kenya

The Jubilee Insurance Company of Kenya (JICK), mostly known as Jubilee Insurance, is an insurance company in Kenya, which has the largest economy in the East African Community. It is a wholly owned subsidiary of Jubilee Holdings Limited, a multinational insurance holding company, which maintains its headquarters in Nairobi, the capital of Kenya, with subsidiaries in Kenya, Tanzania, Uganda, Burundi, and Mauritius, with plans to expand on the African continent.

CRDB Bank Plc is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator. As of September 2022, CRDB Bank was the largest commercial bank in Tanzania.

<span class="mw-page-title-main">NMB Bank Tanzania</span> Commercial bank in Tanzania

NMB Bank Plc., is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania, the central bank and national banking regulator.

<span class="mw-page-title-main">Mkombozi Commercial Bank</span> Tanzanian banking and financial service corporation

Mkombozi Commercial Bank Plc. is a commercial bank in Tanzania. It is licensed by Bank of Tanzania, the central bank and national banking regulator. Mkombozi is a Swahili word meaning Savior

<span class="mw-page-title-main">Rwanda Stock Exchange</span> Stock exchange located in Kigali, Rwanda

The Rwanda Stock Exchange Limited was incorporated on 7 October 2005 with the objective of carrying out stock market operations. The Stock Exchange was demutualized from the start as it was registered as a company limited by shares. The company was officially launched on 31 January 2011.

Michael Ngaleku Shirima was a Tanzanian businessman, entrepreneur, and philanthropist. He was the founder and chairman of Precision Air, Tanzania's largest privately owned airline. He served in that role from 1993 until his death on 9 June 2023, at the age of 80.

Tanzania Women Bank Limited (TWBL) is a Tanzanian bank that specialises in providing financial services to women. It is listed as a "Registered Financial Institution" by the Bank of Tanzania, the central bank and national banking regulator.

<span class="mw-page-title-main">Tanzania Breweries Limited</span>

Tanzania Breweries Limited, also referred to as TBL, is the oldest and largest brewing company in Tanzania.

<span class="mw-page-title-main">Beer in Tanzania</span>

Beer and alcohol is an integral part of Tanzanian society and local brands hold a strong sense of national pride among the Tanzanian population. There is a considerable amount of brewing and drinking done in the country. Tanzania ranks 6th in Africa for beer consumption and contributes to over 3% of the African consumption. However, over 90% of the national consumption is either homemade or from the informal sector. Bottled beer is expensive for the majority of the population and is almost 6 times more expensive than the maize beers. Nonetheless, beer sales and taxes are a vital part of the Tanzanian economy.

Swissport Tanzania is an aviation service provider in Tanzania. The company entered the Tanzanian market in 2001 after the acquisition of Dar es Salaam Airports Handling Company (DAHACO) by the parent company Swissport International. The company currently operates Ground handling, Cargo Handling, Aircraft maintenance and Fueling services at Julius Nyerere International Airport and Kilimanjaro International Airport. The company has also recently expanded its footprint due to the current growth saturation at the major airports into Songwe Airport and Mtwara Airport. The company is a public company and was listed on the Dar Stock Exchange in 2003.

<span class="mw-page-title-main">Tanzania–United Kingdom relations</span> Bilateral relations

Tanzania–United Kingdom relations are bilateral relations between Tanzania and the United Kingdom. The United Kingdom has historically been a partner of Tanzania in many areas, particularly trade and security.

<span class="mw-page-title-main">Yetu Microfinance</span> Tanzanian microfinance bank

Yetu Microfinance Bank Plc. (YETU) is a microfinance bank in Tanzania. It is the first microfinance institution to be listed in the Dar es Salaam Stock Exchange. Yetu is a Swahili word meaning Ours.

National Investments Company Limited (NICOL) Tanzania is a Tanzanian investments company headquartered in Dar es Salaam. It was incorporated in June 2003 as National Investments Company (NICO). In 2007 the company renamed itself as the National Investments Company Limited (NICOL). The company was one of the first few companies to be listed on the Dar es Salaam Stock Exchange in 2004. The majority of the company's investment portfolio is in securities, however, it also owns two active subsidiaries.

References

  1. ↑ "Tanzania Cigarette Company Limited Summary". Credit Risk Monitor. Retrieved 23 July 2015.
  2. ↑ Greenberger, Robert S. "New Leaders Replace 'Big Men' As Privatization Sweeps Africa". Wall Street Journal. ISSN   0099-9660 . Retrieved 2016-02-14.
  3. 1 2 3 "TCC – Tanzania Cigarette Company". JTI. Japan Tobacco International. Retrieved 23 July 2015.
  4. ↑ "Listed Companies". DSE-TZ. DSE. Archived from the original on 1 August 2015. Retrieved 23 July 2015.
  5. 1 2 3 4 5 6 7 8 9 "TCC Annual Report 2014" (PDF). Dar-es-salaam Stock Exchange. Retrieved 23 July 2015.
  6. ↑ "Company Overview of Tanzania Cigarette Company Limited". Bloomberg Business. Bloomberg. Retrieved 23 July 2015.
  7. ↑ "Tanzania Tobacco Profile" (PDF). who.int. World Health Organization. Archived from the original (PDF) on October 29, 2013. Retrieved 23 July 2015.
  8. ↑ "Tanzania Cigarette Company Limited (Exchange: DES Ticker: TCC)". African Select. Retrieved 23 July 2015.
  9. ↑ "TANZANIA CIGARETTE COMPANY LTD REPORTS A 9.2% DECLINE IN PROFIT". Corporate Digest. 18 March 2013. Retrieved 23 July 2015.
  10. 1 2 "Tanzania Cigarette Company Overview". WSJ Quotes. Wall Street Journal. Retrieved 23 July 2015.
  11. ↑ "TCC Annual Report 2016" (PDF). Dar es Salaam Stock Exchange.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.