Tanzania Portland Cement Company Limited (TPCC), also Twiga Cement, is a cement-manufacturing company in Tanzania. It became the first company in Tanzania to manufacture 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, where they trade under the symbol TWIGA. it's a component company of the Tanzania All Share Index
Location The factory of Tanzania 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 a large cement manufacturer that manufactures three brands of portland cement: Twiga Ordinary, Twiga Plus+ and 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 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.
In 1992, the government sold 13 percent ownership to Scancem International ANS of Norway and another 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.
+ Twiga Cement stock ownership in 1998 Rank Name of owner Percentage ownership 1 Government of Tanzania 2 TPCPLC employees 3 Scancem International 4 Swedfund International Total
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.
As of December 2018, the shareholding in the company stock was as depicted in the table below.
+ Twiga Cement shareholding as at 31 December 2018 Rank Name of owner Domicile Percentage ownership 1 Scancem International DA Norway 2 Parastatal Pension Fund Tanzania 3 Standard Chartered Bank Uganda Uganda 4 Public Service Pension Fund Tanzania 5 National Social Security Fund Tanzania 6 Murtaza Basheer Nasser Tanzania 7 Umoja Unit Trust Scheme Tanzania 8 Sayed H. Kadri & Group Tanzania 9 Government Employees Provident Fund Tanzania 10 Said Salim Awadh Bakhresa Tanzania 11 9,487 other investors Total
Governance Hakan Gurdal serves as the chairman of the board of directors. Alfonso Velez serves as the managing director.
See also Tanga Cement Cement in Africa
References
External links Official website Company page at Dar es Salaam Stock Exchange