Tanzania government defends Tanga Cement acquisition

Dar es Salaam. The government yesterday defended the disputed acquisition of Tanga Cement Company Ltd by a foreign company that also controls the majority shareholding in Twiga Cement.

In 2021, Scancem International DA (Scancem), a subsidiary of Heidelberg Cement AG, which owns Tanzania Portland Cement Plc (Twiga Cement), and AfriSam Mauritius Investment Holdings Limited, owner of Tanga Cement, agreed for the former to acquire a 68.33 percent stake in Tanga Cement.