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News Bamburi Cement’s profit rises in 2021

Bamburi Cement’s profit rises in 2021

Written by Global Cement staff 29 April 2022
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Kenya: Bamburi Cement’s net profit was US$11.9m in 2021, up by 22% year-on-year from 2020. The company attributed the growth to increased domestic selling prices in Kenya, due to a higher proportion of premium products sales and targeted price actions in the retail segment.

Managing director Seddiq Hassani said that he envisages cement demand growth in Bamburi Cement’s markets in the rest of 2022, supported by a stable economic environment. He looked optimistically to possible export growth arising from the Democratic Republic of Congo’s admission into the East African Community (EAC) in March 2022. He further noted the impact of the Rwanda-Uganda border closure as a downside risk.

Last modified on 04 May 2022
Published in Global Cement News
Tagged under
  • Kenya
  • Bamburi Cement
  • market
  • economy
  • Export
  • growth
  • Forecast
  • Democratic Republic of Congo
  • East African Community
  • Rwanda
  • Uganda
  • border closure
  • GCW555

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