Cement News tagged under: East Africa
ZSE halts all share trading in Lafarge Cement Zimbabwe23 December 2022, Published under Cement NewsThe Zimbabwe Stock Exchange Ltd (ZSE) has implemented a securities halt in the trading of shares in Lafarge Cement Zimbabwe Ltd . The halt is effective from 23 December 2022 until further notice. According to ZSE, “Following the execution of a sale and purchase agreement between Associated International Cement Limited and Fossil Mines (Pvt) Ltd for a 76.45 per cent shareholding in Lafarge, there have been material developments in the sphere of activity of Lafarge. The full impact of t... |
Cementis expansion to lead to lower cement price and self-sufficiency19 December 2022, Published under Cement NewsThe expansion of the Cementis cement plant in Ibity, near Antsirabe in Madagascar, is expected to lead to a significant drop in cement prices. Within three years, the price of a 50kg bag is forecast to fall to MGA14,000 (US$3.17), according to the country’s President, Andry Rajoelina. The project will increase the production at the cement plant to 1Mt from its current 180,000tpa, enabling the country to achieve cement self-sufficiency. |
CIMERWA posts end of year revenue of RWF92.1bn07 December 2022, Published under Cement NewsCIMERWA Plc 's year-end financial results recorded revenue of RWF92.1bn (US$84.6m) in 2022, 37 per cent above the previous year. “This is mainly attributed to the optimisation of our production processes, cost savings initiatives and the effective execution of our route-to-market strategy for both our domestic and export markets,” said John Bugunya, CFO of CIMERWA Plc. “Our Profit Before Tax stood at RWF16.9bn, a significant improvement of 212 per cent compared to the prior year. ... |
Savannah Cement places order with Sinoma for new Kenyan plant02 December 2022, Published under Cement NewsSavannah Cement has placed an EPC order with Sinoma International Engineering for a new US$300m cement plant in Kenya. Sinoma will construct a clinker line with an output of 8000tpd, a cement grinding unit, and a packaging and forwarding system with an output of 100tph, as well as a supporting power station in Kitui, east of the capital Nairobi, reports Yicai Global. The company will provide a full range of services from engineering design, equipment procurement and supply, civil const... |
Bamburi Cement forecast to see 25% drop in earnings29 November 2022, Published under Cement NewsBamburi Cement is expected to post net earnings for FY2022 down by at least 25 per cent compared to FY21, according to Reuters News. The loss in earnings is being attributed to slowing demand for cement, rising energy costs and increasing raw material costs. |
Bamburi Cement celebrates eco-friendly certification21 November 2022, Published under Cement NewsBamburi Cement Kenya has secured an eco-friendly cement range certification for its four brands after achieving 30 per cent lower carbon dioxide (CO2). Speaking at the launch of the certification, Bamburi Cement Managing Director, Seddiq Hassani, called the accreditation a milestone for the company in establishing its efforts towards the global climate change obligations of net zero emissions. “At Bamburi, we will continue to pioneer carbon footprint reporting and transparency within ou... |
PPC posts 23% drop in EBITDA17 November 2022, Published under Cement NewsPPC Ltd , which is currently finalising its results for the six months ended 30 September 2022, has posted a 23 per cent YoY drop in EBITDA to ZAR728m (US$42.1m) in the six months ended 30 September 2022. Excluding PPC Zimbabwe, EBITDA fell 12 per cent YoY. Net debt continued to improve, coming in at ZAR677m on 30 September 2022, compared to ZAR1009m in March of this year. According to the company, shareholders should expect earnings per share (EPS) for the 2022 six-month period to “diff... |
Tanzania Portland Cement reports 9M profit up 6%02 November 2022, Published under Cement NewsTanzanian cement producer Tanzania Portland Cement PLC has posted a six per cent increase in pretax profit in the first nine months of the year as domestic and export cement demand has surged. Pretax profit increased by six per cent YoY to TZS110.53bn (US$47.4m) in the 9M22 from TZS94.82bn in the year-ago period. The company’s cement revenue rose by nine per cent YoY to TZS358.3bn, but the cost of sales of TZS226.2bn considerably impacted its net profit. “The high availability and effic... |
East African Portland Cement launches Green Triangle Cement02 November 2022, Published under Cement NewsEast African Portland Cement Plc (EAP) has launched a new product named Green Triangle Cement that is aimed at minimising the cement manufacturer’s carbon emissions. Green Triangle Cement has already received the go ahead from the Kenya Bureau of Standards under the strength standardisation category of 22.5 even though the company has boosted its strength to over 27 to enable its application in a wider variety of construction projects. The new product aims at providing an alternativ... |
Dangote revives plans to open Kenyan factories26 September 2022, Published under Cement NewsWhile attending the inauguration of Kenya’s fifth President Dr William Ruto, Aliko Dangote revealed that he wants to revive plans for two new cement plants for Dangote Group in Kenya. The two cement plants would have a combined capacity of 1.5Mta. Earlier in 2017, Aliko Dangote registered two companies, Dangote Cement and Dangote Quarries Kenya Ltd, in Kenya with operations in Nairobi and Mombasa. Dangote has 90 per cent share owership in these companies with 10 per cent held by local s... |