Tanzania-based Tanga Cement Company (TCC), which launched its operations in Rwanda last week, is positive about the country’s potential due to solid gross domestic product (GDP) growth and the low inflation rate.
The New Times reports the firm invested over Rwf200 million (US$348,000) to supply cement in the country and that they intend to deliver over 700,000 tonnes by the end of the year.
The company will sell its SIMBA cement brand in Rwanda.
Rwanda currently largely relies on Cimerwa for its cement needs. The country’s largest cement producer, however, imports half of its total cement manufacturing output to satisfy the high local demand.
TCC shares trade under its brand name, Simba, at the Dar es Salaam Stock Exchange.