Tanzania Portland Cement Company Limited (TPCC), also Twiga Cement is a cement-manufacturing company in

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...

. It is the first company in Tanzania to start manufacturing cement; in 1966. 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 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 i ...

, where they trade under the symbol:TWIGA.

Location

The factory of ''

Portland Cement Public Limited Company'' is located on Wazo Hill, along the Dar es Salaam–Bagamoyo Road, approximately , by road, northwest of downtown Dar es Salaam, Tanzania's commercial and financial capital. 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).

Overview

Twiga Cement is large cement manufacturer, that manufactures three brands of

portland cement Portland cement is the most common type of cement in general use around the world as a basic ingredient of concrete, mortar, stucco, and non-specialty grout. It was developed from other types of hydraulic lime in England in the early 19th ...

; (a) Twiga Ordinary (b) Twiga Plus+ and (c) Twiga Extra. In 2014, the factory expanded and increased its manufacturing capacity to annually. 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.

History

The company was founded in 1959 as Tanzania Portland Cement Company, producing its first bag of

cement A cement is a binder, a chemical substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is seldom used on its own, but rather to bind sand and gravel ( aggregate) together. Cement mi ...

in mid-1966. It was a joint venture between Cementia AG of Switzerland, with 80 percent shareholding and the

government of Tanzania The politics of Tanzania takes place in a framework of a unitary presidential democratic republic, whereby the President of Tanzania is both head of state and head of government, and of a multi-party system. Executive power is exercised by the ...

, through the Tanzania Development Corporation, owning 20 percent. In 1967, the government increased its ownership to 50 percent. In 1973 the company was

nationalized Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to p ...

with the government of Tanzania now owning 100 percent of the company. In 1992, the government sold 13 percent ownership to Scancem International ANS of

Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and the ...

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.

Ownership

In 2006, the government of Tanzania divested from the company by floating its shareholding on the

, where the company stock trades under the symbol TWIGA. As of December 2018, the shareholding in the company stock was as depicted in the table below.

Governance

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

References

External links

Official Webpage

Company Page At Dar es Salaam Stock Exchange
{{coord, 06, 39, 47, S, 39, 10, 03, E, display=title Cement companies of Tanzania Economy of Dar es Salaam Tanzanian brands Manufacturing companies established in 1959 Companies listed on the Dar es Salaam Stock Exchange 1959 establishments in Tanganyika