UGANDA, Kampala | Real Muloodi News | Swiss cement giant Holcim has announced the sale of its subsidiaries in Uganda, Hima Cement and in Tanzania, marking a strategic move to concentrate on its core markets.
In a $120 million deal, Holcim will transfer its Ugandan subsidiary, Hima Cement, to the local conglomerate Sarrai Group.
Simultaneously, Holcim is selling its 65% stake in Mbeya Cement Company in Tanzania to the local firm Amsons Group, with the transaction amount undisclosed.
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,” emphasising Holcim’s commitment to being a global leader in innovative and sustainable building solutions. The agreements are contingent on regulatory approval.
The sale of these susidiaries to Sarrai Group and Amsons Group aligns with Holcim’s goal of securing strategic and reliable partners to foster the long-term development of these businesses.
Holcim’s decisive move reflects its focus on streamlining operations and reinforcing its position in key markets, as it continues to be a trailblazer in innovative and eco-friendly construction solutions.
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