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Sarrai Group acquires Hima Cement for $120 million.

Sarrai Group acquires Hima Cement for $120 million.

Swiss cement giant Holcim announces strategic divestment in Tanzania and Uganda

Zurich-based cement multinational Holcim has unveiled plans to sell its businesses in Tanzania and Uganda to local companies, marking a strategic shift towards consolidating its presence in core markets. The move is in line with Holcim’s ongoing efforts to refine its business focus and optimize its portfolio.

In Uganda, Holcim has signed an agreement to divest its subsidiary, Hima Cement, to the Uganda-based conglomerate Sarrai Group. The deal, valued at $120 million, is subject to regulatory approval. The transaction reflects Holcim’s commitment to streamlining operations and allowing local entities to take the helm of their respective markets.

Simultaneously, in Tanzania, Holcim is set to sell its 65-percent stake in the Mbeya Cement Company to Amsons Group. While the financial details of this transaction remain undisclosed, the move underscores Holcim’s strategic realignment to reinforce its leadership position in key markets.

Martin Kriegner, Holcim’s regional head for Asia, the Middle East, and Africa, stated, “These divestments advance our strategy to consolidate our leadership in core markets.” The company’s decision to exit non-core businesses aligns with its vision for sustained growth and profitability.

The completion of both transactions is contingent upon receiving regulatory approval. The divestment strategy allows Holcim to redirect resources and focus on markets where it holds a significant competitive advantage.

Holcim, a major player in the global cement industry, remains committed to delivering value to its shareholders and maintaining a robust presence in markets that contribute significantly to its overall growth.

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