Displaying items by tag: Tanzania Portland Cement
Twiga Cement donates food to orphanages
16 December 2013Tanzania: The Tanzanian Portland Cement Company (Twiga Cement) has donated food valued at US$18,700 to four orphanages. The food is intended to feed orphans at the Kurasini, Malaika, Umra and Mamalenga orphanages, all in Dar es Salaam, for three months.
The Director of Human Resources Management for Twiga Cement, Jayne Nyimbo, said that it has become a tradition for the company to give donations at the end of each year. Around 300 orphans were gathered at a special festive meal, where they had the opportunity to play with 'Father Christmas' and have lunch with Twiga cement staff at the WAMA and Rotary Club of Dar es Salaam.
"We have brought children together to give them a day of pleasure, knowing that they do not have parents to spend time with, so we thought the least we could do is give them a Christmas donation that they deserve," said Nyimbo.
Tanzania: The Tanzania Portland Cement Company (TPCC) has reported a 22% increase in net profit to US$37.9m in 2012 from US$31.2m in 2011.
The company's turnover increased by 15% to US$153m from US$134m. Cost of sales rose due to double-digit inflation rates and energy tariffs rising to US$80m in 2012 compared to tariffs of US$72.5m in 2011. The Tanzanian Shilling remained relatively stable compared with major trading world currencies in 2012, depreciating by less than 1% against the US Dollar.
According to the TPCC statement of audited results, local cement producers were exposed to foreign imports in 2012 as East African Community (EAC) governments decided not to reinstate suspended duties on cement in the common external tariff. The TPCC board has also approved further expansion with a new cement mill in 2013.