Holcim to divest businesses in Uganda and Tanzania
16 November 2023
Holcim, the Swiss multinational company that manufactures building materials, has announced that it has signed agreements to divest its businesses in Uganda and Tanzania.
The company is selling Hima Cement Ltd, its local subsidiary in Uganda, to the Sarrai Group, for an enterprise value of US$120 million.
Holcim has also agreed to sell its 65% participation in Mbeya Cement Company Ltd in Tanzania to Amsons Group for an undisclosed sum. Completion of both transactions is subject to obtaining the respective regulatory clearances.
“These divestments advance our strategy to consolidate our leadership in core markets as the global leader in innovative and sustainable building solutions,” said Martin Kriegner, Regional Head Asia, Middle East & Africa, Holcim.
In 2021 Holcim announced a new strategy that included the goals of becoming a global leader in innovative and sustainable building solutions and expanding sales of its solutions and products to 30% of Group net sales. As part of this strategy, it has been exiting from many of its cement-based businesses.