Displaying items by tag: Kenya
Uganda: Two Kenyan nationals have been killed after a crane collapsed at an expansion project at Tororo cement. Three other workers were also severely injured in the incident, according to the New Vision newspaper. All the workers were working on behalf of a Kenyan construction contractor that is building the upgrade at the site.
Kenya: Bamburi Cement has appointed three women to its board of directors. Alice Owuor, Rita Kavashe and Hellen Gichohi have been appointed to the board, according to the Business Daily newspaper. Two female directors Sheila M’Mbijjewe and Catherine Langreney, resigned from the board in 2016 leaving it with an all-male composition and no female representation.
Owuor was the former Kenya Revenue Authority Commissioner for Domestic Taxes until she retired in 2016. Kavashe has been the chief executive of General Motors East Africa since 2011 and has worked for the motor vehicle dealer for more than two decades.
Gichohi is the managing director of the Equity Bank’s social arm, the Equity Group Foundation. She joined the Equity Group Foundation in 2012 from the African Wildlife Foundation (AWF) where she served for 11 years from 2001, as the President from 2007, Vice President from 2002 and Director of the Conservation Program from 2001 when she joined AWF. She holds a PhD in Ecology from the University of Leicester in the UK, a Master of Science degree in Biology of Conservation, and a BSc in Zoology from the University of Nairobi and Kenyatta University respectively.
Kenya: Bamburi Cement’s profit rose slightly to US$57.4m in 2016 from US$57.2m in 2015. Its operating profit rose by 8% to US$76.7m from US$70.9m. However, its turnover fell by 3% to US$371m from US$382m. It blamed the fall in turnover on high competition, particularly in the individual homebuilding market. It also reported a fall in sales volumes of cement although this was offset by infrastructure and contractor markets in Kenya, Uganda and Rwanda. The cement producer added that the cement grinding plants it is building in Kenya and with its subsidiary Hima Cement in Uganda are on schedule to be completed in mid-2018.
Kenya: ARM Cement plans to increase its grinding capacity by 50% at its 1Mt/yr cement plant at Athi River. Pradeep Paunrana, the managing director of ARM Cement, made the comments in an interview reported on by Reuters. The new grinding capacity will use clinker from the company’s plant at Tanga in Tanzania. The upgrade plans follow an equity deal in late 2016 with the CDC Group to secure US$140m in funding. However, most of this money has been used to pay off debts.
Paunrana noted that cement demand in the East African region is expected to rise at 8 – 10%/yr. The cement producer is preparing to build a new cement plant at Kitui in Kenya but it wants to increase its capacity utilisation rate from its plant in Tanzania first.
Kenya: East African Portland Cement’s sales revenue fell by 19% year-on-year to US$35.9m in 2016 from US$44.6m in 2015. It made a loss of US$5.15m compared to a loss of US$7.19m in 2015, according to Reuters. It said that sales volumes had fallen by 17% in 2016 due to a ‘change in the competitive landscape’ and that this had caused the fall in revenue. However, it added that it had cut its administrative expenses by 9% due to on-going cost management initiatives. Looking forward the company said that, as it expected cement supply to be higher than demand in the near term, it would focus on cutting costs.
Kenya: The annual general meeting of the East African Portland Cement company has been cancelled following the non-attendance of the company’s auditors. The meeting requires the presence of the office of the Auditor-General or its appointee Deloitte East Africa to proceed, according to the Business Daily newspaper. The management was unaware that the procedure had changed a company director said. The meeting has been rescheduled for 3 February 2017. The cement producer has a poor corporate governance record following the accusation of its chief executive of sexual harassment and reports of theft of stock in late November 2016, among other incidents.
Kenya: Mombasa Cement is preparing to build a 36MW wind farm by its plant in Vipingo. Power from the unit will be used for the company’s cement plant and sold to Kenya Power, according to the Daily Nation newspaper. The project will consist of 12 3MW turbines and it is estimated to cost US$2.5m. The cement plant is also planning upgrades at a cost of US$72m.
Kenya: Data from the Kenya National Bureau of Statistics report that cement exports dropped in value to US$7.6m in 2016 from US$25.6m in 2015. Cement producers have blamed declining volumes on cheap imports, according to the East African newspaper. The opening of a cement plant by Dangote Cement in Tanzania has also contributed to the decline, forcing companies to cut their prices.
Kenya: Growth in consumption of cement has slowed to 5.3% in the third quarter of 2016 from 11% in the same period of 2015. The slowdown in growth mirrors a fall in growth in the construction sector, which grew by 9.3% in the third quarter of 2016 compared to 15.6% in the same period of 2015, according to data from the Kenya National Bureau of Statistics. It attributed the fall in growth in part to a ‘considerable’ reduction in civil work on the Standard Gauge Railway from Mombasa to Nairobi as it nears completion.
Kenya/Uganda: CBMI Construction has signed two contracts with LafargeHolcim in Kampala for cement grinding plant projects in Uganda and Kenya. Bamburi Cement, LafargeHolcim’s subsidiary in Kenya, has ordered a 1Mt/yr grinding plant from CBMI. The plant will be located in Nairobi. Hima Cement, a joint venture LafargeHolcim is part of in Uganda, has ordered a 0.8Mt/yr grinding plant. It will be located in Tororo in the east of the country.
The scope of the projects covers clinker feeding to cement packing and shipping. These contracts will come into force after being signed, receiving of guarantees and CBMI’s receiving advance payments. Contract periods are 17.5 months after contracts coming into force to complete industrial tests, and 19 months to commissioning.
Attendees of the signing ceremony included the CEO of Bamburi Cement Bruno Pescheux, the CEO of Hima Cement Daniel Pettersson and the Regional Manager of CBMI Li Ming.