TPCPLC Annual Report 2022

2022 Annual Report
“Accelerating Sustainable Alternatives”
TANZANIA PORTLAND CEMENT PUBLIC LIMITED COMPANY

Table of Contents
1 Business Performance
Local environmental impact 36
Letter of Transmittal 3
Occupational Health and Safety 37
Barua ya Kuwasilisha 3
Employees and Employment 38
TPCPLC, 5 years outlook 4
Society and Corporate Responsibility 40
Business Performance 5
2 Chairman and Managing Director Statements 4 Reports to Our Shareholders
Chairman’s Statement 8 The Report By Those Charged With Governance 46

Taarifa ya Mwenyekiti 10 Ripoti ya Wale Wanaohusika na Uongozi 70
Managing Director Statement 12 Statement Of Directors’ Responsibilities 94
Taarifa ya Mkurugenzi Mtendaji 16 Declaration Of The Head Of Finance 95
Independent Auditor’s Report 96
3 Sustainability
5 Financial Statements
Our Sustainable Alteranatives 22
Statement of the Managing Director on Statement Of Profit Or Loss And Other
24 102
Sustainability Comprehensive Income
Value chain 26 Statement Of Financial Position 103
Strategy and Management 27 Statement Of Changes In Equity 104
Business and Compliance 31 Statement Of Cash Flows 105
Product and Innovation 33 Notes to the Financial Statements 106
Production and Supply Chain 34 Company Information 147
“In 2022, we achieved our best

performance yet and took significant
strides towards sustainability”
2 Tanzania Portland Cement PLC

The Shareholders
Tanzania Portland Cement Public Limited Company
Letter of Transmittal
The Directors of the Company have the pleasure to submit to you the Annual Report for the Company for the year ended 31
December 2022 in accordance with section 166 of the Companies Act, 2002.
The report contains the Chairman’s Statement, Managing Director’s Statement, Sustainability Report, The Report of Those
Charged with Governance, Independent Auditors’ Report on the Accounts and the Annual Accounts.
The Directors recommend a final dividend of TZS 390 per share (2021: TZS 390). There was no interim dividend paid for the
year ended 31 December 2022.
Mr. Hakan Gurdal

Chairman
Kwa Wanahisa
Barua ya Kuwasilisha
Wakurugenzi wa Kampuni wanayo furaha kuwasilisha kwenu Taarifa ya Mwaka ya Kampuni kwa kipindi cha mwaka
ulioishia Decemba 31, 2022, kwa mujibu wa ibara ya 166 ya Sheria ya Kampuni ya mwaka, 2002.
Taarifa hii inajumuisha, Taarifa ya Mwenyekiti, Taarifa ya Mkurugenzi Mtendaji, Ripoti ya Uendelevu, Ripoti ya Wale
Wanaohusika na Uongozi, Ripoti ya Wakaguzi kuhusu hesabu na Hesabu za mwaka.
.
Bodi ya Wakurugenzi inapendekeza gawio la TZS 390 kwa kila hisa kwa mwaka 2022 (2021: TZS 390). Hakukuwepo na
gawio la awali lililolipwa kwa mwaka 2022.
Mr. Hakan Gurdal

Mwenyekiti
Annual Report 20223

TPCPLC, 5 years outlook
“Since 2018, TPCPLC has continued to make a record each

year in production, sales and profit, creating more value for
stakeholders”
Revenue Development +10.8%

449.5
494.7
393.7
+10.8% CAGR 328.5 348.8
TZS Billions
CAGR* Revenue growth of
10.8% since 2018
2018 2019 2020 2021 2022
+14.2% 135.9
Operating Profit 125.6
104.9
+14.2% CAGR 87.3
TZS Billions
80.1
CAGR* Operating Profit

growth of 14.2% since 2018
2018 2019 2020 2021 2022
97.4
+14.4%
Profit for the Year 88.5
74.7
+14.4% 59.7
TZS Billions
CAGR 56.9
CAGR* Profit for the year

2018 2019 2020 2021 2022
Earning per share +14.4%

541
492
415
TZS 541 per share in 2022 332
TZS/Share
316
CAGR* Profit for the year

2018 2019 2020 2021 2022
*CAGR - Compound Annual Growth Rate

Business Performance MD & Chairman Sustainability Reports“Accelerating
to Financial Statements
Sustainable Alternatives”
Statements Shareholders
TPCPLC, 2022 Business Performance
“2022, was another record breaking year, in production, sales,

profitability, and sustainability”
Revenue +10.1% Revenue per product (TZS billion)
TZS 494.7 billion

+30.8%
345.6
Operating Profit
+8.2%
TZS 135.9 billion
-30.0% -10.0%
72.9 71.1
+136.8%
Profit for the year 5.1
+10.0
Twiga extra Twiga plus Twiga Twiga super
ordinary
TZS 97.4 billion
CO2 emissions
Return on equity
539 kg
+0.5 percentage points
Sustainable revenues
32.1% +3.4%
85.7%
Return on revenue
+0.3 percentage points Health and Safety
19.4% 0 Fatalities
0 Lost Time Injury (LTI)

Dividend per Share
+0.3 percentage points
Employees -3 FTE
TZS 390 per share 257 FTE
*All comparisons are compared to the previous year.
Annual Report 20225

Annual Report 20225
Next Section:
Chairman and Managing

Director Statements

Business Performance MD & Chairman Sustainability Reports to Financial Statements
In the Section
Chairman’s Statement 8
Taarifa ya Mwenyekiti 10
Managing Director Statement 12
Taarifa ya Mkurugenzi Mtendaji 16
Annual Report 20227

Chairman’s Statement
“A New Record Set, Once Again”
Dear Shareholders,
Dear Employees, Dear Friends of the
Twiga Cement family,
In numerous aspects, the year 2022 was an exceptional

year for each one of us. As the Chairman of the
Board, I feel privileged and honoured to present this
statement on behalf of the Twiga Cement family and
the Board of Directors.
I convey my sincere gratitude to all our employees

and partners, especially our frontline workers who
consistently demonstrate exceptional commitment to
ensuring the safety of our people and maintaining the
strong performance of our business operations. It is
noteworthy that our teams have remained steadfast
in tackling the challenge of climate transformation
by implementing sustainable measures such as the
introduction of alternative fuel feeding systems and
utilizing alternative raw materials to reduce clinker
incorporation thus reducing our carbon footprint on the
environment.
Through our high-performance culture, we have

delivered strong operating results compared to the
year 2021, despite strong competition in the cement
manufacturing industry. The strong market position
TPCPLC has today is the achievement of the entire
TPCPLC team, of which I am very proud. My thanks,
therefore, go to all employees for their extraordinary
commitment.
As in previous years, TPCPLC has continued to leverage

the best practice experience from the HM Group,
through its global improvement programs, called CIP
and AEM Brainstorming. The implementation of CIP
resulted in specific actions which further optimized
“Our teams have remained steadfast costs and processes. Our commitment to learning
from the best practice exchange sets us apart, and
in tackling the challenge of climate it also supports the education and development
transformation by implementing of our employees. Our participation in the AEM

Brainstorming initiative provided a platform for our
sustainable measures including employees to share their innovative ideas, and this
alterantive fuels and improving raw led to TPCPLC being awarded the AEM Brainstorming
Award for Innovation in 2022. This recognition is a
materials mix processes” testament to the creativity and dedication of our team
Congratulations.

“TPCPLC awarded the AEM Brainstorming Award for Innovation in 2022.”

operating environment for its employees. We believe these
factors continue to allow TPCPLC to meet the objective of
maintaining and extending its leadership position in the
market, leaving TPCPLC well-positioned for sustainable
and profitable growth in the future.
Dividend
The Board remains focused on building shareholders value
and we are confident that by following our strategies,
we will achieve this. The Board, therefore, proposed a
dividend for 2022 of TZS 390 per share. This is planned to
be paid in June 2023.
Corporate Citizenship
TPCPLC is fully committed to environmental sustainability
Economic and Business Environment
as well as Corporate Social Responsibility and continues to take
The Tanzanian economy has continued to grow at about 5.2% in
all necessary measures to improve its performance with regard
2022 compared to 4.5% in 2021 (Source: TNBS). Fuel prices in the
to the health and safety and human rights of its employees, good
country remain at a surge due to the Russia-Ukraine war.
governance and the protection of the environment.
The Tanzanian Shillings exchange rate has shown a slight decline
in value versus main foreign currencies in 2022, which has caused
TPCPLC remains a major contributor to the Tanzanian
inflationary impacts on energy and fuel costs.
economy and society through government taxes, technology
improvements, new investments, compliance with international
The existing over-capacities, new entrants and the consequent
business standards, community development programs, fair
pressure on pricing have changed the market landscape and
employment and by leading the industry not only in performance
have tested the adaptability of TPCPLC management structures,
but also and most importantly, in building the Nation.
underscoring the efficiency of the cost fitness plans developed in
the previous years.
Appreciation
On behalf of the Board, I would like to thank all TPCPLC’s
Financial Performance
stakeholders, partners, customers and employees who have
Despite the competitive environment, TPCPLC again achieved
placed great trust in our company and our products during the
a record in sales volumes in 2022. This was a result of high
past difficult year. Above all, I would like to express my gratitude
production efficiency, the commitment of our employees, the
to all the Shareholders for their cooperation and continued
implementation of efficient sales strategies and the enhancement
faith in the Company. We have every confidence that TPCPLC
of the product portfolio.
will continue its strong performance and deliver value to the
shareholders in the future.
Turnover and sales volume increased by 10% and 5% respectively,
and this increased revenue, combined with disciplined cost
management led to an unprecedented operating profit increase
of 8% when compared to the previous year. TPCPLC recorded an
Operating Profit of TZS 135.9 billion mainly due to higher volumes,
stable pricing and efficient production processes leading to Mr. Hakan Gurdal
strong cost control. Chairman
Prospects
It is a very competitive market, but with the anticipated catchup
of growth in cement demand, we believe that TPCPLC can
continue to benefit from the company’s strategic investments,
the continued focus on customer service and the relentless
pursuit of optimising production efficiency within a safe
Annual Report 20229

Taarifa ya Mwenyekiti
“Rekodi Mpya Imewekwa, Kwa Mara Nyingine”
Ndugu Wanahisa,
Ndugu Wafanyakazi, Marafiki wa
familia ya Twiga,
Kwa nyanja nyingi, mwaka wa 2022 ulikuwa mwaka

wa kipekee kwa kila mmoja wetu. Kama Mwenyekiti
wa Bodi, ninajisikia heshima kuwasilisha taarifa hii
kwa niaba ya familia ya Twiga Cement na Bodi ya
Wakurugenzi.
Natoa shukrani zangu za dhati kwa wafanyakazi

na washirika wetu wote, hasa wafanyakazi wetu wa
mstari wa mbele ambao mara kwa mara wanaonyesha
kujitolea kwa kipekee katika kuhakikisha usalama wa
watu wetu na kudumisha utendaji thabiti wa shughuli
zetu za biashara. Ni vyema kutambua kwamba timu
zetu zimeendelea kuwa imara katika kukabiliana na
changamoto ya mabadiliko ya tabianchi (hali ya hewa)
kwa kuanzisha mifuma endelevu kama vile mfumo
wa nishati mbadala na kutumia malighafi mbadala ili
kupunguza ujumuishaji wa klinka katija saruji hivyo basi
kupunguza kiwango cha kaboni kwenye mazingira.
Kupitia utamaduni wetu wa utendakazi wa hali ya juu,

tumetoa matokeo thabiti ya uendeshaji ikilinganishwa
na mwaka wa 2021, licha ya ushindani mkubwa katika
sekta ya utengenezaji wa saruji. Nafasi thabiti ya
soko iliyonayo TPCPLC leo ni mafanikio ya timu nzima
ya TPCPLC. Shukrani zangu, kwa hiyo, ziwaendee
wafanyakazi wote kwa kujitolea kwao kwa ajabu.
Kama ilivyokuwa miaka iliyopita, TPCPLC imeendelea

kutumia uzoefu bora zaidi kutoka kwa HC Group,
kupitia programu zake za uboreshaji za kimataifa,
zinazoitwa CIP na AEM Brainstorming.
Utekelezaji wa CIP ulisababisha hatua mahususi
ambazo ziliboresha zaidi gharama na michakato.
“Timu zetu zimeendelea kuwa thabiti Ahadi yetu ya kujifunza kutoka kwa ubadilishanaji bora
wa mazoezi hutuweka tofauti, na pia inasaidia elimu na
katika kukabiliana na changamoto maendeleo ya wafanyikazi wetu. Ushiriki wetu katika
ya mabadiliko ya hali ya hewa mpango wa AEM Brainstorming ulitoa jukwaa kwa

wafanyakazi wetu kushiriki mawazo yao ya kibunifu, na
kwa kutekeleza hatua endelevu hii ilipelekea TPCPLC kutunukiwa Tuzo ya Ubunifu ya
ikiwa ni pamoja na matumizi ya AEM mwaka wa 2022.

Utambuzi huu ni ushahidi wa ubunifu na uthabiti wa
nishati mbadala na kuboresha timu yetu. Hongereni sana.
mchanganyiko wa malighafi”

“TPCPLC Ilitunikiwa Tuzo ya Ubunifu ya AEM Mwaka 2022.” ufanisi wa uzalishaji na kuhakikisha mazingira salama
kwa wafanyakazi wake. Tunaimani mambo haya
yanaiwezesha TPCPLC kuendelea kudumisha na kupanua
nafasi yake ya uongozi katika soko, hivyo kuiweka TPCPLC
katika nafasi nzuri ya ukuaji endelevu na wenye faida siku
zijazo.
Gawio
Bodi inaendelea kuhakikisha kuwa inaongezeka
thamani ya wanahisa na tunaamini kuwa kwa kufuata
mikakati yetu, tutafanikisha hili. Bodi imependekeza
gawio la shilingi 390 kwa hisa kwa mwaka 2022. Gawio
pendekezwa litalipwa mwezi Juni 2023.
Uraia Mwema
Mtazamo wa Uchumi na Biashara TPCPLC imejizatiti kikamilifu katika kudumisha uendelevu wa
Uchumi wa Tanzania umeendelea kukua kwa takriban asilimia 5.2 mazingira pamoja na Uwajibikaji kwa Jamii na inaendelea
mwaka 2022 ikilinganishwa na asilimia 4.5 mwaka 2021 (Chanzo: kuchukua hatua zote muhimu ili kuboresha utendaji wake kwa
TNBS). Bei ya mafuta nchini imeendelea kuongezeka kutokana na kuzingatia afya na usalama na haki za binadamu za wafanyakazi
vita vya Urusi na Ukraine. Kiwango cha ubadilishaji wa Shilingi ya wake, utawala bora na ulinzi wa mazingira.
Tanzania kimeonyesha kupungua kidogo thamani ikilinganishwa
na sarafu kuu za kigeni mwaka 2022, ambapo kumesababisha TPCPLC ni kati ya wachangiaji wakubwa katika uchimi wa
mfumuko wa bei wa gharama za nishati na mafuta. Tanzania na jamii kupitia ulipaji wa kadi kwa serikali, maboresho
ya teknolojia, uwekezaji, kufuata viwango vya kimataifa vya
Uwezo wa ziada uliopo sokoni, viwanda vya saruji vipya na biashara, mipango ya maendeleo kwa jamii, ajira kwa kuzingatia
shinikizo kubwa kwenye bei ya saruji vimebadilisha mazingira ya usawa na uongozi katka sekta ya saruji, sio tu katika utendaji,
soko na vimeipatia uongozi wa TPCPLC mtihani wa kuhakikisha bali muhimu Zaidi, kujenga Taifa letu.
ufanisi wa mipango katika gharama, kuhakikisha zinakua ndogo
ikilinganishwa na miaka iliyopita. Shukrani
Kwa niaba ya Bodi, ningependa kuwashukuru wadau wote wa
Utendaji wa Kifedha Kampuni, washiriki, wateja na wafanyakazi ambao wameweka
Licha ya mazingira ya ushindani, TPCPLC ilipata tena rekodi Imani kubwa katika Kampuni yetu na bidhaa zetu katika kipindi
katika viwango vya mauzo mwaka 2022. Hii ilitokana na kigumu cha mwaka uliopita. Zaidi ya yote, ningependa kutoa
ufanisi mkubwa wa uzalishaji, kujitolea kwa wafanyakazi wetu, shukrani zangu za dhati kwa wanhisa wote na kwa Imani yao
utekelezaji wa mikakati bora ya mauzo na uboreshaji wa jalada kwa Kampuni. Tuna Imani kwamba Kampuni itaendelea na
la bidhaa. utendaji wake imara na kuongeza thamani kwa wanahisa
Mauzo na usambazaji wa saruji uliongezeka asilimia 10% na 5%

kwa mtiririko huo. Ongezeko la mapato Pamoja na mbinu bora za
kuthibiti gharama iliwezesha faida ya uendeshaji kukua kwa 8%
ikilinganishwa na mwaka uliopita. Faida ya uendeshaji ya shilingi
Mr. Hakan Gurdal
bilioni 135.9 za Kitanzania imetokana na ongezeko la mauzo na
Chairman
ufanisi katika uzalishaji uliopelekea uthibiti wa gharama.
Matarajio
Soko lina ushindani mkubwa, lakini matarajio ya kuongezeka kwa
mahitaji ya saruji, tunaamini kwamba TPCPLC inaweza kuendelea
kunufaika kutokana na uwekezaji mkakati wa kampuni, umakini
wa kuwahudumia wateja na jitihada endelevu za kuboresha
Annual Report 202211

Managing Director Statement
“TPCPLC sets new standards for eco-friendly

cement production in Tanzania”
“Our strong customer base

and our approach through
customer centricity is a
critical pillar of our strategy,
which makes possible
the achievement of our
ambitious commercial
targets in all Tanzanian
territories and exports”
Dear Shareholders,
Year 2022 was yet another record year for TPCPLC.

to improve our raw material mix and optimize clinker usage as
Production and sales achieved new records. our sales growth is
we strive to produce eco-friendly cement, we remain committed
attributed by the Country’s economic growth, fuelling cement
to managing raw material mix related process emissions.
consumption and construction industry growth.
This ongoing effort is aligned with our goal of reducing our
environmental impact while meeting the needs of our customers
In 2022, we delivered a record for financial performance, our
and stakeholders.
operating results remained strong and improved compared to
previous year.
Our strong customer base and our approach through customer
centricity is a critical pillar of our strategy, which makes possible
2022 was the year of successful transformational investments,
the achievement of our ambitious commercial targets in all
we completed our alternative fuels project which will boost our
Tanzanian territory and exports.
energy substitution rate (SR) by more than 10%, giving us further
breakthrough in our road towards sustainability. Our progress in
We are highly confident in our teams, products and services,
sustainability is of equal significance to our financial performance
to find together with our customers the best solutions in such a
goals.
competitive environment to ensure continuous value creation for
our stakeholders.
The market shift towards higher quality cements, facilitated us

Sales Performance
The efforts made throughout the year on the operational side
In 2022 TPCPLC reached a new sales record. TPCPLC’s cement
to increase clinker production, combined with the focus on
sales increased in 2022 by 4.7% compared to 2021, despite
producing high quality cement products at the same time,
intensifying competition. Growth mainly attributed by the
maintaining strong customer relationships and service excellence,
Government infrastructure projects, and overall growing demand.
this has allowed TPCPLC to improve operating results compared
Twiga played a pivotal role in supplying cement to these projects
to previous years.
and thus contributing to the Tanzania’s economic development.
Financial Performance
Despite the challenging market environment, we have
In year 2022 TPCPLC managed to achieve an Operating Profit of
managed to maintain our market position and improve in
TZS 135.9 billion, 8% above 2021, mainly due to increased revenue
sales performance through efficient operations, innovation,
(+10%), despite overall increase in variable costs and fixed costs
commitment to quality, customer-centric approaches by keeping
compared to the previous year.
customer satisfaction in the focus of all our efforts and actions.
In 2022, TPCPLC recorded a profit of TZS 97.4 billion after taxes,

Tanzanian domestic market reached around 6.5 million tons,
representing a 10% increase compared to the previous year.
excluding exports. The cement industry in Tanzania includes six
Earnings per share also increased from TZS 492 to TZS 541 in the
integrated plants and several grinding facilities with production
same period.
capacity reaching around 11 million tons by the end of 2022, as a
result the utilization capacities in general are low, but TPCPLC is
However, TPCPLC’s cash flow from operating activities decreased
at higher level of utilization, and this is the reason we decided to
by 30% compared to the previous year. This reduction can be
invest in additional cement capacity, by rehabilitating our cement
attributed, among other factors, to an increase in raw material
mill no.2.
inventories. This increase was necessary in ensuring uninterrupted
production and timely delivery of cement products to our
Twiga sales team is collaborating closely with our distributors to
customers.
position our products in every market segment within Tanzania
Our balance sheet remains robust and healthy mainly due
and neighbouring countries. The overcapacity in the Tanzanian
to higher current assets, particularly higher cash and cash
cement industry represents around 4 million tons of excess
equivalents, making possible to deliver high, stable and
supply, furthermore, the entry of new players in the market has
predictable dividends to our shareholders one more year.
intensified competition further.
Digitalization
Exporting to neighbouring countries will continue to be essential
Our focus on digitalization remains, as a means of enhancing
in reducing excess supply in the domestic market and promoting
our overall productivity and better serving our customers and
regional integration within the East African Community.
stakeholders. In 2022 digitalization has helped us to optimize new
technologies that would improve raw material mix, thus reducing
Operations Performance CO2 emissions and improving energy consumption. Our CO2
emissions per type of cement have dropped considerably and are
In 2022 TPCPLC hit again a new record for production of clinker
below previous year.
and cement. Most of critical operational key metrics for the year
show a positive trend in terms of quality and plant performance
Digitalization continues to be one of our main pillar in creating
overall, confirming once more the need to focus on efficiency
more opportunities in our changing business environment.
improvement and the reduction of production costs to remain
competitive.
Kilns and mills operating coefficients have improved, also the fuel
efficiency. The expert system implementation and better power
monitoring are contributing to avoid idle running hours, and to
improve the performance of our equipment, maximizing capacity
utilization is a top priority for our technical team.

Our ESG Strategy in Action around the country.

Also, a large number of engineers participated in training
Environment
programs at the factory, a special mention to the mining and
TPCPLC carried out various environment programs as per
quality control programs. Infrastructure related support in form
our environment management plan. Several environment
of cement and expertise was also given to various schools and
training programs were facilitated during the year by the
institutions within the country.
company, conducted within our Wazo quarry, participants were
stakeholders from NGOs, municipalities, universities, government Health and Safety
institutions & diplomatic missions, primary, secondary, and TPCPLC achieved had zero fatalities and zero lost time incidents
higher learning institutions, TPCPLC employees and contractors. (LTI) for employees and contractors. This great achievement
reflects our unwavering commitment to maintaining a safe and
These trainings or workshops carried out were about quarry health working environment for our employees and contractors.
rehabilitation and promotion of urban forestry concept in cement At TPCPLC health and safety of our teams is our top priority.
factories. In 2022, 25,165
tree seedlings were donated trees seedlings I would like to extend my sincere gratitude to all our employees
for greening activities from 25,165 dontated and contractors who have demonstrated a dedicated level of
our tree nursery, and above trees vigilance and adherence to our safety policies and procedures.
3,300 valuable >3,300 planted Your commitment and dedication to safety have made this
trees were planted for achievement possible.
quarry rehabilitation within
Future Ahead
the factory. At the same time in 2022 we had surveillance audit
for environment standard ISO 14001:2015 and we retained our The industry will continue to face tough competition due to the
certification. On the other hand, the key topics related with the new cement capacities and the challenges; some are global like
environment are the alternative fuels, CO2 emissions reduction, Covid-19 and more recently the war in Europe. This is having a
and municipality waste management (RDF). negative impact in the supply chain, and in particular the fuel
prices are increasing the landed cost of all raw materials and
TPCPLC goes beyond environmental regulations and is fully spare parts, which is at the same time increasing the production
committed to reduce the CO2 emissions. Through the use of cost. Our target to remain competitive is based on volumes and
alternative fuels (biomass) energy substitution systems, have cost control.
situated us to lead Tanzanian cement industry with into a better
route for sustainability. Regarding the environmental policies, our CO2 emissions will be
aligned with the CO2 roadmap of the Group. TPCPLC will remain
Through these innovative systems, we are reducing our reliance fully committed to support the ongoing growth of the Country, by
on gas, we are decreasing our carbon footprint and working developing high quality products to be delivered in all territories
to preserve the environment for future generations. We believe at an accessible price, despite inflationary pressure.
that sustainability is not only good for the environment, but it’s
also a critical aspect of our business strategy. By prioritizing We will keep or strong focus on production cost reduction
sustainability, we can create value for our stakeholders, initiatives, and process improvement programs to maximize our
enhance our brand reputation, and contribute to the long-term capacities. Our top priority remains the health and safety of our
development of Tanzanian economy. teams. TPCPLC will continue to lead the industry with the highest
standards, making sure our customers and stakeholders are the
Overall, our commitment to sustainability and reducing CO2 beneficiaries of our different efforts and initiatives.
emissions have positioned us as leaders in sustainable cement
production in Tanzania. At TPCPLC, we are fully committed to delivering quality products
and value-added services that meet the needs of our customers.
Corporate Social Responsibility (CSR)
We are grateful to all our stakeholders for their support
The company continued to support non-profit organizations,
throughout the year. We remain confident that TPCPLC will
schools and government institutions working to advance
continue to deliver value to our shareholders in the coming year.
education, protect the environment, and strengthen communities

Commitment to Our Shareholders
At TPCPLC, we remain committed to our strong dividend policy.

As such, we’re proposing
to distribute a dividend Dividend Proposed
of TZS 390 per share at
the upcoming Annual TZS 390 Per Share
General Meeting, which

is the same high level
as in 2021. In 2022, we Dividend Paid 2022
spent around TZS 77 billion
on dividends, reflecting TZS 77 billion paid in 2022
our payback policy and

commitment to shareholder value.
We’re pleased that our shareholders can continue to benefit from

our success, and we’re grateful for your ongoing support. As we
move forward, we’ll continue to focus on delivering strong results
and creating more value for our shareholders, while also pursuing
sustainable growth and improving our contributions to the wider
community.
Alfonso Velez
Managing Director

Taarifa ya Mkurugenzi Mtendaji
“TPCPLC inaweka viwango vipya kwa uzalishaji wa

cement unaotunza mazingira nchini Tanzania.”
“Msingi imara wa wateja

wetu na mtazamo wa
kuzingatia mahitaji ya
wateja wetu ni nguzo
muhimu ya mkakati wetu,
ambayo inawezesha kufikia
malengo yetu ya kibiashara
yenye tija katika eneo lote la
Tanzania na katika masoko
ya nje”
Ndugu wanahisa,
Mwaka 2022 ulikuwa mwaka mwingine wa kuvunja

kuboresha mchanganyiko wetu wa malighafi na kuongeza
rekodi kwa TPCPLC. Uzalishaji na mauzo ulifikia rekodi mpya.
matumizi bora ya klinka tunapojitahidi kuzalisha saruji yenye
Kuongezeka kwa mauzo yetu kunahusishwa na ukuaji wa uchumi
kirafiki kwa mazingira, Tunaendelea kuwa na azma ya kusimamia
wa nchi, ambao unachochea matumizi ya saruji na ukuaji wa
uzalishaji wa hewa chafu unaohusiana na mchanganyiko wa
sekta ya ujenzi.
malighafi. Juhudi hizi endelevu zinaelekezwa na lengo letu la
kupunguza athari yetu kwa mazingira wakati tunakidhi mahitaji
Katika mwaka 2022, tulifikia rekodi mpya kwa utendaji wa
ya wateja na wadau wetu.
kifedha, matokeo yetu ya uendeshaji yalikuwa imara na
yameboreshwa ikilinganishwa na mwaka uliopita.
Msingi imara wa wateja wetu na mtazamo wetu wa kuzingatia
mahitaji ya wateja ni nguzo muhimu ya mkakati wetu, ambayo
Mwaka 2022 ulikuwa mwaka wa uwekezaji mafanikio wa mageuzi,
inawezesha kufikia malengo yetu ya kibiashara yenye tija katika
tulikamilisha mradi wetu wa nishati mbadala ambao utaongeza
eneo lote la Tanzania na katika masoko ya nje.
kiwango chetu cha kubadilisha nishati (SR) kwa zaidi ya asilimia
10%, Kutupa mapinduzi zaidi katika safari yetu kuelekea
Tuna imani kubwa na timu zetu, bidhaa na huduma zetu, ili
endelevu. Maendeleo yetu katika suala la endelevu ni muhimu
kupata pamoja na wateja wetu suluhisho bora katika mazingira
kama malengo yetu ya utendaji wa kifedha.
yenye ushindani mkubwa, ili kuhakikisha kuendelea kuunda
Kwa mabadiliko ya soko kuelekea saruji ya ubora wa juu, meweza
thamani kwa wadau wetu.

Utendaji wa Mauzo masaa ya kukimbia bure na kuboresha utendaji wa vifaa vyetu,

Mwaka 2022, TPCPLC ilifikia rekodi mpya ya mauzo. Mauzo kuongeza matumizi ya uwezo ni kipaumbele cha juu kwa timu
ya saruji ya TPCPLC yaliongezeka kwa 4.7% mwaka 2022 yetu ya kiufundi.
ikilinganishwa na mwaka 2021, licha ya ushindani mkali. Ukuaji
ulichangiwa sana na miradi ya miundombinu ya Serikali na Jitihada zilizofanywa kwa muda wote wa mwaka katika upande
mahitaji yanayoendelea kwa ujumla. Twiga ilicheza jukumu wa uendeshaji ili kuongeza uzalishaji wa klinka, pamoja na
muhimu katika usambazaji wa saruji kwa miradi hii na hivyo kuzingatia uzalishaji wa bidhaa za saruji zenye ubora wa hali
kuchangia katika maendeleo ya kiuchumi ya Tanzania. ya juu, kudumisha uhusiano imara na wateja na kutoa huduma
bora, hii imewezesha TPCPLC kuboresha matokeo ya uendeshaji
Licha ya mazingira magumu ya soko, tumeweza kudumisha ikilinganishwa na miaka iliyopita.
nafasi yetu kwenye soko na kuboresha utendaji wetu katika
mauzo kupitia uendeshaji wenye ufanisi, ubunifu, azma ya ubora, Ufanisi wa Fedha
na njia zinazomlenga mteja kwa kuweka kuridhika kwa mteja Katika mwaka 2022, TPCPLC ilifanikiwa kupata Faida ya
kuwa lengo letu katika juhudi na hatua zetu zote. Uendeshaji ya TZS 135.9 bilioni, sawa na ongezeko la 8%
ikilinganishwa na mwaka 2021, hasa kutokana na kuongezeka
Soko la ndani la Tanzania lilifikia takriban tani milioni 6.5, kwa mapato (+10%), licha ya kuongezeka kwa gharama za
bila kujumuisha mauzo ya nje. Sekta ya saruji nchini Tanzania kubadilika na gharama za kudumu ikilinganishwa na mwaka
inajumuisha viwanda sita vya uzalishaji kamili na vituo vingi vya uliopita.
kusaga na uwezo wa uzalishaji ukifikia takriban tani milioni 11
ifikapo mwisho wa 2022, Kama matokeo, matumizi ya uwezo Mwaka 2022, TPCPLC iliandikisha faida ya TZS 97.4 bilioni baada
kwa ujumla ni ya chini, lakini TPCPLC inatumia uwezo wake kwa ya kodi, ikiwakilisha ongezeko la 10% ikilinganishwa na mwaka
kiwango cha juu, na hii ndiyo sababu tuliamua kuwekeza katika uliopita. Faida kwa kila hisa pia iliongezeka kutoka TZS 492 hadi
uwezo wa ziada wa saruji kwa kurekebisha kinu chetu cha saruji TZS 541 katika kipindi hicho kile.
namba 2.
Hata hivyo, mtiririko wa fedha kutoka shughuli za uendeshaji
Timu ya mauzo ya Twiga inashirikiana kwa karibu na wa TPCPLC ulipungua kwa asilimia 30 ikilinganishwa na
wasambazaji wetu ili kuweka bidhaa zetu katika kila sehemu ya mwaka uliopita. Kupungua huku kunaweza kuwekwa kwenye
soko ndani ya Tanzania na nchi jirani. Uwepo wa uwezo mkubwa sababu mbalimbali, ikiwa ni pamoja na kuongezeka kwa hisa
kupita kiasi katika sekta ya saruji nchini Tanzania unawakilisha za malighafi. Ongezeko hili lilikuwa muhimu katika kuhakikisha
takriban tani milioni 4 za usambazaji ziada. Aidha, kuingia kwa uzalishaji usiokatizwa na utoaji wa wakati unaofaa wa bidhaa za
washiriki wapya katika soko kumechochea ushindani zaidi. saruji kwa wateja wetu. Karatasi yetu ya mizania inabaki kuwa
Usafirishaji wa bidhaa kwenda nchi jirani utaendelea kuwa imara na yenye afya kuu kutokana na kuongezeka kwa mali za
muhimu katika kupunguza usambazaji uliopita kiasi katika soko sasa, hasa fedha taslimu na sawa na fedha taslimu, ikiruhusu
la ndani na kukuza ujumuishaji wa kikanda ndani ya Jumuiya ya kutoa gawio kubwa, thabiti, na lenye uwezo wa kutabirika kwa
Afrika Mashariki. wanahisa wetu kwa mwaka mwingine.
Utendaji wa Uendeshaji Kidigitali

Mwaka 2022, TPCPLC ilifanikiwa tena kuvunja rekodi ya uzalishaji Kipaumbele chetu kinaendelea kuwa kwenye dijitalizesheni, kama
wa klinka na saruji. Idadi kubwa ya viashiria muhimu vya njia ya kuongeza ufanisi wetu kwa ujumla na kutumikia wateja na
utendaji wa uendeshaji kwa mwaka huo inaonyesha mwenendo wadau wetu vizuri zaidi. Katika mwaka 2022, udijitali umetusaidia
mzuri katika suala la ubora na utendaji wa kiwanda kwa ujumla, kuoptimize teknolojia mpya ambazo zitasaidia kuboresha
ikithibitisha tena umuhimu wa kuweka mkazo katika kuboresha mchanganyiko wa malighafi, hivyo kupunguza uzalishaji wa CO2
ufanisi na kupunguza gharama za uzalishaji ili kubaki na na kuboresha matumizi ya nishati. Uzalishaji wetu wa CO2 kwa
ushindani. kila aina ya saruji umepungua kwa kiasi kikubwa na uko chini ya
mwaka uliopita.
Viwango na tija katika uendeshaji wa matanuru na mitambo
ya kusaga saruji vimeboreshwa, sambamba na ufanisi kwenye Udijitali unaendelea kuwa moja ya nguzo kuu katika kuleta fursa
matumizi ya nishati ya mafuta. Utekelezaji wa mfumo wa zaidi katika mazingira yetu ya biashara yanayobadilika.
wataalamu na ufuatiliaji bora wa umeme unachangia kuepuka

Mkakati wetu wa ESG katika Vitendo

Mazingira Majukumu ya Jamii ya Kampuni (CSR)
TPCPLC ilitekeleza programu mbalimbali za mazingira kulingana Kampuni iliendelea kusaidia mashirika yasiyo ya faida, shule,
na mpango wetu wa usimamizi wa mazingira. Programu kadhaa na taasisi za serikali zinazofanya kazi ya kukuza elimu, kulinda
za mafunzo kuhusu mazingira zilifanikishwa na kampuni wakati mazingira, na kuimarisha jamii katika maeneo mbalimbali nchini.
wa mwaka, zilizofanyika katika kiwanda chetu cha Wazo, Aidha, idadi kubwa ya wahandisi walishiriki katika programu za
washiriki walikuwa wadau kutoka mashirika yasiyo ya kiserikali mafunzo katika kiwanda, na tunapenda kutoa pongezi maalum
(NGOs), Mamlaka za serikali za mitaa, vyuo vikuu, taasisi za kwa programu za uchimbaji na udhibiti wa ubora. Pia, tulitoa
serikali na balozi za kidiplomasia, taasisi za elimu ya msingi, msaada wa miundombinu kwa njia ya saruji na utaalamu kwa
sekondari na elimu ya juu, wafanyakazi na wakandarasi wa shule na taasisi mbalimbali nchini.
TPCPLC.
Afya na Usalama
Mafunzo haya au warsha zilikuwa kuhusu urekebishaji wa mawe TPCPLC ilifanikiwa kutokuwa na vifo na hakukuwa na ajali
ya kuchimba na kuhamasisha zilizosababisha kukosa muda wa kazi kwa wafanyakazi na
dhana ya misitu ya mijini makandarasi. Mafanikio haya makubwa yanathibitisha dhamira
katika viwanda vya saruji. mbegu za miti yetu isiyoyumba ya kudumisha mazingira salama na yenye afya
Katika mwaka 2022, mbegu
25,165 zilitolewa kazini kwa wafanyakazi na makandarasi wetu. Kwa TPCPLC, afya
25,165 za miti zilitolewa kwa miche na usalama wa timu zetu ni kipaumbele chetu cha juu.
shughuli za upandaji miti >3,300 ilipandwa
kutoka kwenye shamba letu Napenda kuishukuru kwa dhati timu yetu yote ya wafanyakazi
la miche, na zaidi ya miti na makandarasi ambao wameonyesha kiwango cha juu cha
3,300 yenye thamani ilipandwa kwa ajili ya urekebishaji wa mawe tahadhari na kufuata sera na taratibu zetu za usalama. Dhamira
ya kuchimba ndani ya kiwanda. Kwa upande mwingine, katika na kujitolea kwenu katika suala la usalama vimefanya mafanikio
mwaka 2022 tulifanya ukaguzi wa mara kwa mara wa viwango haya yawezekane.
vya mazingira ISO 14001:2015 na tulipata uthibitisho wetu. Mada
muhimu zinazohusiana na mazingira ni matumizi ya nishati Matarajio
mbadala, kupunguza uzalishaji wa CO2, na usimamizi wa taka za Sekta itaendelea kukabiliana na ushindani mkali kutokana na
manispaa (RDF). uwezo mpya wa uzalishaji wa saruji na changamoto zilizopo;
baadhi ni za kimataifa kama Covid-19 na hivi karibuni vita
TPCPLC inaenda zaidi ya sheria za mazingira na imejitolea kabisa barani Ulaya. Hii ina athari hasi katika mlolongo wa usambazaji,
kupunguza uzalishaji wa CO2. Kupitia mfumo wa kubadilisha na haswa bei ya mafuta inaongeza gharama ya malighafi
nishati kwa kutumia nishati mbadala (biomass), tumeweka na vipuri vyote, ambayo kwa upande mwingine inaongeza
wenyewe katika nafasi ya kuongoza sekta ya saruji nchini gharama za uzalishaji. Lengo letu la kuendelea kuwa na ushindani
Tanzania kuelekea njia bora zaidi ya uendelevu. linategemea uzalishaji na udhibiti wa gharama.
Kupitia mifumo hii ya ubunifu, tunapunguza tegemezi letu kwa Kuhusu sera za mazingira, uzalishaji wetu wa CO2 utaendana na
gesi na kupunguza alama yetu ya kaboni, na tunafanya kazi ramani ya CO2 ya Kundi. TPCPLC itaendelea kuwa na dhamira
ya kuhifadhi mazingira kwa ajili ya vizazi vijavyo. Tunaamini kamili ya kusaidia ukuaji endelevu wa nchi kwa kukuza bidhaa za
kuwa uendelevu si tu mzuri kwa mazingira, bali pia ni sehemu ubora wa juu zinazopatikana kwa bei nafuu katika maeneo yote,
muhimu ya mkakati wetu wa biashara. Kwa kuweka kipaumbele licha ya shinikizo la mfumuko wa bei.
kwa uendelevu, tunaweza kuunda thamani kwa wadau wetu,
kuboresha ufanisi wetu, na kujenga sifa nzuri katika soko. sifa Tutaendelea kuwa na mkazo mkubwa katika mipango ya
ya chapa, na kuchangia katika maendeleo ya muda mrefu ya kupunguza gharama za uzalishaji na programu za kuboresha
uchumi wa Tanzania. mchakato ili kuboresha uwezo wetu. Kipaumbele chetu cha
juu bado ni afya na usalama wa timu zetu. TPCPLC itaendelea
Kwa ujumla, dhamira yetu ya uendelevu na kupunguza uzalishaji kuongoza katika sekta kwa viwango vya juu zaidi, kuhakikisha
wa CO2 imetuweka katika nafasi ya kuongoza katika uzalishaji wateja wetu na wadau wanakuwa ni wahusika wa juhudi na
endelevu wa saruji nchini Tanzania. mipango yetu mbalimbali.

Katika TPCPLC, tumejitolea kabisa kutoa bidhaa za ubora na

huduma zenye thamani ili kukidhi mahitaji ya wateja wetu.
Tunawashukuru wadau wetu wote kwa msaada wao kwa mwaka
mzima. Tunaendelea kuwa na imani kwamba TPCPLC itaendelea
kutoa thamani kwa wanahisa wetu katika mwaka ujao.
Dhamira yetu kwa wanahisa wetu

Katika TPCPLC, tunadumisha azma yetu thabiti ya kutoa gawio
kwa wanahisa
wetu. Kwa hiyo,
Gawio lililopendekezwa
tunapendekeza
kugawa gawio la
TZS 390 kwa
TZS 390 kwa hisa
kila hisa katika

Mkutano Mkuu
Gawio lililipwa 2022
wa Kawaida
ujao, ambalo ni
kiwango kikubwa
TZS 77 bilioni ililipwa mwaka 2022
kama ilivyokuwa
mwaka 2021. Mwaka 2022, tulitumia takriban TZS 77 bilioni kwa
gawio, ikionyesha sera yetu ya kurudisha kwa wanahisa na ahadi
yetu kwa thamani ya wanahisa.
Tunafurahi kwamba wanahisa wetu wanaweza kuendelea

kunufaika na mafanikio yetu, na tunashukuru kwa msaada wenu
endelevu. Tunapoendelea, tutazingatia kuendelea kuleta matokeo
makubwa na kuongeza thamani zaidi kwa wanahisa wetu, wakati
pia tukitafuta ukuaji endelevu na kuboresha mchango wetu kwa
jamii kwa ujumla.
Alfonso Velez
Mkurugenzi Mtendaji

Next Section:
Sustainability

In the Section
Our Sustainable Alteranatives 22

Statement of the Managing Director on Sustainability 24
Value chain 26
Strategy and Management 27
Business and Compliance 31
Product and Innovation 33
Production and Supply Chain 34
Local environmental impact 36
Occupational Health and Safety 37
Employees and Employment 39
Society and Corporate Responsibility 40

“Our Sustainable Alteranatives”
“Health and Safety of our

Employees and Contractors is
our top priority”
>12,600 This is part of the Company’s commitment to

environmental protection. The trees seedlings are
Trees seedlings were raised during the
planted in various areas around the quarry, keeping
year
forestation cover of our quarried areas.
>3,300
TPCPLC’s reforestation initiative (raising trees
seedlings and planting trees) is a great example of
Trees were planted during the year how we contribute to environmental protection.
0 LTI 0 Fatalities >400

Employees and Employees and Employees and Contractors
Contracotrs Contracotrs trained in Health and Safety
During the year we have achived 0 Lost Time Injury (LTI), and no Fatalities. Training our Employees,
This achievement is mainly through the commitment of our Employees and Contracotrs and Trainees on
Contractors in athehering to Health and Safety Standards. Health and Safety remains our top
priority.

“Taking Our Industrial Operations to

the Next Level of Sustainability”
CSR Spend
TZS 630 million CSR spending during
the year in education and infrastracture.
TZS 3.1 billion
Paid relating to Levies and

Royalties
77%
Of the total purchases were

sourced locally
44 Students
Enrolled internship
program
TZS 70.2 billions
Taxes and Duties paid

during the year

Scope of our Sustainablity Report

The Sustainability Report 2022 for Tanzania Portland Cement transparency and accountability. It will also detail the company’s
PLC will provide a comprehensive overview of the company’s efforts to ensure sustainability across its supply chain, including
sustainability performance and initiatives, highlighting its efforts its relationships with suppliers and efforts to promote sustainable
to reduce its environmental impact, promote social sustainability, sourcing practices. Through this report, Tanzania Portland Cement
and support local economic development. PLC aims at demonstrating its commitment to sustainability
and its efforts to promote a more sustainable future for all
The report covers the company’s financial performance, stakeholders.
governance structure and policies, and its commitment to
Statement of the Managing Director on

Sustainability
TPCPLC has seen significant advancements in all key performance indicators,

including business and product innovation, health and safety, environment,
community development, and human resources in 2022. These achievements
prompt continuous evaluation of targets to align with TPCPLC’s sustainability
roadmap through to 2030.
Financial Year 2022 Highlights

The financial year 2022 was marked by the commissioning of our alternative
fuel plant, which will lead to increased utilization of biomass fuel in our kilns.
This green energy source is sustainable and can also recycle municipal waste.
Our collaboration with the government and local municipalities in Dar es
Salaam will be mutually beneficial. We aim to reduce cement CO2 emissions
by more than 10% by 2030, contributing to a better environment and
community wellbeing in the region.
TPCPLC has implemented a program aimed at rehabilitating the limestone

quarry from which we extract our raw material. The Quarry Rehabilitation and
Renaturation Project (QRRP) aims to restore the mined quarry, enhance urban
environmental conservation activities, and promote community awareness
and capacity building. In 2022, a Tanzanian team won a Biodiversity
Management Award and was recognized in Germany, demonstrating our
commitment to environmental conservation and sustainability. As of now,
more than 18 hectares of land have been rehabilitated, and over 3,300 trees
planted.
Looking Forward
Over the years, occupational health and safety, social responsibility and We are committed to enhancing our sustainability
employees have been key pillars of our sustainability strategy. We invest in reporting and continuing to advance the
these pillars to make our plant a safe place for employees, contractors and sustainability agenda. We assure all stakeholders
all other stakeholders. In 2022, we managed to achieve zero loss of time that we remain steadfast in our pursuit of
due to injury (LTI), thanks to the commitment shown by the management, achieving the 2030 targets.
employees, contractors and other stakeholders in observing our health and
safety procedures.
Mr. Alfonso Velez

Managing Director

Value chain
Raw materials Production Customers
• Extraction from quarry • Cement • Distributors - for reselling/distribution

Limestone is extracted from • Direct customers - for own consumption including
our own quarry and is used for mining companies, public sector projects and block
production of clinker and as filler makers.
for cement production. We supply cement to our customers in the private
and public sector.
Continuous improvement program (CIP) Procurement

• CO2 reduction • Raw materials goods and
• Product innovation • Spare parts 77% services
• Recycling • Energy procured locally
• Logistics
The goal of our CIP is to provide our customers with the Approximately 77% of our goods and services are procured locally
innovative range of products, reduce CO2 , emission, minimise within Tanzania, while the remaining 23% is sourced from outside
energy consumption by improving processes. the country.

Strategy and Management

Sustainability Commitments 2030
Vision and mission Our sustainability commitments 2030 defines the principles,
It is our objective to develop a strong identity in the marketplace roadmap and strategies to year 2030. TPCPLC as an integral part
by providing customers with high quality products and of HeidelbergMaterials group, believes in the principles outlined
services within the required standards and continuously in the Sustainability Commitments 2030 for HeidelbergMaterials
improve our services to meet our customers’ expectations as group, which are as follows:
well as demonstrate leadership in the cement manufacturing • Driving profitability and innovation;
sector. This will not only ensure sustainable growth in terms of • Achieving excellence in occupational health and safety
profitability and operations. All these initiatives will be attained • Reducing our ecological footprint;
by embedding a performance framework that integrates • Enabling the circular economy
environment conservation, community, and employees. In • Being a good neighbour;
addition, we strive to ensure health and safety to all our • Ensuring compliance and creating transparency
employees and contractors. These are the key pillars in our
operations. Through our Sustainability Commitments 2030, we are
supporting the UN Sustainable Development Goals. In doing
Our vision so, we aim to help address social, economic, and environmental
To develop a strong identity, be the market leader and the first challenges at a global level. In this report, TPCPLC will analyse its
choice amongst cement consumers in Tanzania. contributions to the sustainability commitments.
Our mission We strive to preserve the natural environment, which is the basis
Tanzania Portland Cement Public Limited Company (TPCPLC) for our activities. Conserving resources, reducing emissions and
mission is to satisfy customers by providing them with a high- minimizing the environmental impact of our operations are our
quality product and service at an affordable price. objectives.
Our quality statement Our long-term success depends on sustainable business

We are successful only when our customers are successful. practices as well as building long lasting relationships with our
TPCPLC contributes to customers‘ success by supplying them communities, suppliers of goods and services, business partner,
with the products they want and need. We strive to achieve and employees.
customer satisfaction by ensuring that the quality of our
products is within the required standards and services are Environmental protection, responsible land use, water
consistent and are continuously improved to meet our customer‘s conservation, occupational health and safety and social
expectations. It is the declared goal of every employee to make responsibility are among the key cornerstones and strategy
TPCPLC and Twiga Cement brands recognized by the world of our Sustainability Commitments 2030. TPCPLC made a
for cement quality. This position allows us to achieve market remarkable achievement in these areas in 2022 building on
leadership. progress made in 2021.

The Focal Points of Our Sustainability Strategy until 2030
Principles Our Goals Sustainable Development Goals (SDGs)
• Efficiency on the usage of resources

Driving profitability, 08 09
• Provide low carbon products
DECENT WORK INDUSTRY, INNOVATION
AND ECONOMIC AND INFRASTRUCTURE
innovation and
CROWTH
• Investment in processes improvement and

digitalization
technology
03 04
GOOD HEALTH QUALITY
Occupational health and • Achieve zero fatalities & WELL-BEING EDUCATION
safety excellence • Achieve zero LTI
• Increase the alternative fuel rate to 15 by the year

06 07 09
2030 CLEAN WATER AFFORDABLE INDUSTRY, INNOVATION
AND SANITATION AND INFRASTRUCTURE
AND CLEAN ENERGY
• Reduce CO emission to reach 500kg/ton of cement

Reducing ecological in 2030
12 13 15
footprints • Quarry rehabilitation and naturalization program RESPONSIBLE
CONSUMPTION AND
CLIMATE ACTION LIFE ON LAND
PRODUCTION
• Approved mine closure plan
• Support research in environment and biodiversity
management
08 10 12
DECENT WORK REDUCED RESPONSIBLE
• Substitution of natural raw materials by using by- AND ECONOMIC

CROWTH
INEQUALITIES CONSUMPTION AND
PRODUCTION
Enabling circular economy
products and recycled materials
• Improve the wellbeing of the neighbouring 04 17

QUALITY PARTNERSHIPS
communities EDUCATION FORTHE GOALS
Being a good neighbour
• Open and transparent communication about our
activities
05 16 17
• Ensure compliance with the labour laws, GENDER PEACE, JUSTICE AND PARTNERSHIPS
Compliance and EQUALITY STRONG INSTITUTIONS
FORTHE GOALS
anti-corruption through internal controls and risks
transparency
management systems
Significant reduction in emissions our organization structure and the systems that help to ensure
We have embarked on a number of initiatives within the plant that a continual process of improvement in accordance with our
will lead to a significant reduction in emissions. The CO roadmap sustainability strategy. We have defined areas of responsibility,
to 2030 outlines measures and tasks to be implemented to ensure monitoring and reporting structure in the areas of occupational
our objective of reducing CO₂ emission to 487 kg/t is attained. health and safety, compliance, and sustainability.
This ambition target is in line with
-90
that of HeidelbergMaterials. (-16.7%) Occupational health and safety is one of the pillars of our
540
We will achieve this by optimising Company, and it is an area for which all management levels at
kg CO2/t CEM
490
450
the product mix, use of alternative TPCPLC are accountable. Our occupational safety organisation
fuels and use of alternative is the unit under the Managing Director. Our Occupational Health
components for cement like and Safety Manager is responsible for supervision and monitoring
pozzolana or calcined clays. day to day occupational health and safety activities and directly
2020 2025 2030 reports to the Managing Director. In addition, all employees,
Responsibility and organisation customers, suppliers, contractors, and visitors are responsible for
We have a team that is committed to drive the 2030 following the occupational safety rules and regulations.
Sustainability Agenda in all areas of our operations. The
Board, management team and staff are critical resources in

Sustainability and environmental protection

issues early and gain greater acceptance for our activities.
Our responsibility for the environment is central to everything
Stakeholder engagement
we do. The Company complies with all applicable environmental
laws, regulations, standards and other legal requirements.
Along with personal discussions, we use different other means
TPCPLC engages actively in sustainable, social and ecological
of communication to keep local stakeholder groups informed
development. We are proactively handling all challenges to
and enter into engagement with them – ranging from training,
improve environmental protection, always taking a long-term
workshops, safety week, and a variety of public participation
perspective to prevent potential pollution and continuously
concepts and awards. We addressed concerns raised by the
improve our contribution to environmental protection.
stakeholders in a transparent manner.
Sustainability management at TPCPLC

Relations with workers and other interested
parties
Managing Board
TPCPLC takes Occupational Health and Safety (OHS) seriously
and ensures that workers are informed about potential hazards
Management Team and trained to mitigate risks. OHS issues are discussed through
weekly management and monthly
• Managing Director
safety meetings, as well
• Compliance & QualWity Assurance Manager trucks were
as Occupational Health
Procurement Director
and Safety representative 255 insepcted for
• Human Resources Director Environment Manager roadworthiness

meetings, ad hoc incident
Health and Safety Manager Commercial Director
reporting, safety conversations, and near miss reports.
• Plant Manager Technical Director
• Technical Support & Perfomance Manager
The company engages in effective truck inspections with the
police force to mitigate risks associated with transportation of
Challenges
goods. Safety week involves training on various topics, including
• Health and safety
health and safety awareness, traffic management, defensive
• Energy and emission
driving, plant safety, firefighting, and first aid. It provides an
• Supply of raw materials and conserving resources
opportunity to reinforce company standards for health and safety.
• Nature and species conservation
As a part of its representation in dialogues with the government

Stakeholder engagement
and public, TPCPLC participates in diverse associations and
Our plant and quarry are situated in Wazo Hill within Dar es
initiatives. Members exchange ideas and discuss sector challenges
Salaam city and are surrounded by communities. It is therefore
in these forums. TPCPLC is affiliated with the Confederation of
prudent for the Company to maintain regular contact with the
Tanzania Industries (CTI).
respective community, government agencies, non-governmental
organisations, municipalities, universities, government institutions,
Stakeholder dialogue at a national and
diplomatic missions, schools, TPCPLC employees and contractors
international level
to inform them about our activities and planned projects at the
TPCPLC plays a significant role in the economic and social
location. Plant, production, occupational health and safety, quality
development of Tanzania. It contributes through tax payments,
assurance, environmental protection management teams are
technological advancements, investments, adherence to global
generally responsible for such stakeholder relationships.
business standards, community development initiatives, and
equitable employment practices. Moreover, TPCPLC leads the
Relations with local stakeholders
industry in performance and national building. The company also
Our business operations have a strong local focus, and to achieve
maintains a positive relationship with policymakers.
long-term success, it is crucial to maintain good cooperative
relationships with various stakeholders in society. We are
committed to building trustworthy engagement with all relevant
groups at the local, national, and international levels. This
exchange of ideas and opinions enables us to identify critical

Direct exchange with political decision makers

Suppliers - play a crucial role in the plant’s operations by company adheres to. Through industry bodies and public
providing raw materials, services, and spare parts. The company forums, the company maintains close ties with these entities.
fosters sustainability by providing equal opportunities through The company has implemented programs to comply with laws
tendering, supplier forums, site visits, and favourable terms. and regulations regarding the environment, health, and safety.
Moreover, the Company’s operations contribute to economic and
Local communities – The Company is committed to addressing industrial growth in the country.
community concerns and participates in various initiatives
to support education, healthcare, and women and children’s Dialogue with non-governmental organisations
welfare. The Company allocates a budget for community projects In adherence to our principles, we provide transparent responses
and donated TZS 13.1 million (2022) and TZS 161.8 million to all requests made by non-governmental organizations and
(2021). Furthermore, it is actively engaged in Corporate Social interest groups. Moreover, we view critical inquiries as chances
Responsibility programs, with a focus on women, healthcare, to educate individuals about our sustainability efforts and
education, and children. The total contribution was TZS 833 engage in discussions. Our interactions with non-governmental
million (2022) and TZS 91.4 million (2021). organizations are based on our central areas of corporate
social responsibility (CSR), which include education and
Government and Regulators – The government and regulators training, environmental initiatives, community and biodiversity,
are responsible for policies, permits, and licenses that the infrastructure and building, and emerging events.
Materiality
TPCPLC considers materiality assessment as a crucial tool in sustainability issues. We regularly carryout materiality assessments to
inform our sustainability reporting. Leveraging from constant engagement with our stakeholders, TPCPLC has managed to develop
key materiality issues that matter most not only to the Company’s operations but also to the stakeholders at large. The following are
materiality issues that were identified:
Our approach Get to net zero Improve people's lives Care for our planet
Business ethics and Climate change and energy Biodiversity and sensitive
Health and wellbeing
accountability transition areas
Page 37-38
Page 31-32 Page 33 Page 35
Employee attraction and

Alternative energy Human rights Sustainable supply chain
retention
Page 33 Page 31-32 Page 31
Page 38-39
Safety Community engagement Water management

Page 37-38 Page 40-43 Page 36
Governance Environmental protection

Page 31-32 Page 28

Business and Compliance

Our business transactions are organized on the basis of sound
TPCPLC is committed to responsible corporate governance. The
legal, commercial grounds and facts, and do not use any
Company aims to its business objectives whilst complying with
aggressive or artificial tax arrangements.
applicable laws and international standards and by using socially
and environmentally responsible methods. We believe this is the
Mining and environmental compliance
only way to ensure sustainable success.
TPCPLC complies with relevant laws, regulations, and standards,
incorporating labor standards, human rights, environmental
Legal compliance
protection, and anti-corruption measures into daily operations.
The Company respects and comply with applicable laws of
Contracts with employees and contractors/suppliers also include
the country. Management of TPCPLC ensures compliance with
or cover human rights and a code of conduct.
all applicable laws, regulations and standards. The Company
All these principles are key in the labour standards. We expect our
is committed to incorporate in its day-to-day operations and
employees and business partners to comply with these central
strategy processes that observe labour standards, human
guidelines and recommendations. In addition, our suppliers are
rights, environmental protection, and corruption prevention. In
also obliged to comply with our Code of Business Conduct.
our Company, for example, contracts with the employees and
contractors/suppliers include or cover subjects such as human
As a Company, we acknowledge the environmental impact
rights, code of conduct all these principles are key in the labour
of our quarrying activities and allocate resources towards
standards. We expect our employees and business partners to
complying with existing laws and regulations. To rehabilitate
comply with these central guidelines and recommendations. In
the mined areas, we have implemented programs and operate
addition, our suppliers are also obliged to comply with our Code
a tree nursery that raises seedlings. These seedlings are not
of Business Conduct.
only planted within our mining areas but also donated to
external stakeholders. Additionally, we utilize our tree nursery for
Business performance
training purposes and research aimed at promoting sustainable
ecosystems
Revenue for the 2022 financial year increased by 9% Compliance management

in comparison with the previous year to TZS 495 billion Our Company’s compliance program, deeply ingrained in the
(2021: TZS 450). The result from current operations rose TPCPLC culture, is a comprehensive framework managed by
by 9% to TZS 136 billion. The profit for the financial year the compliance department that establishes and enforces
amounted to TZS 97 billion. compliance guidelines.
This program, rooted in our Code of Conduct, is led by the

Legal compliance
Internal Auditor/Quality Assurance Manager and addresses all
We create jobs both directly at our production site and indirectly
compliance topics relevant to TPCPLC’s operations, including
in upstream and downstream business sectors. As good citizens
competition law, anti-corruption, and human rights. While
we promote economic development with our salaries and wages,
all employees are responsible for ensuring compliance with
investment, procurement, and taxes.
applicable laws and regulations, management provides training
and distributes the code of conduct to staff to ensure adherence
Compliance with laws and regulations to these principles.
Responsible tax strategy
We understand that tax revenues are important for financing The Board and management have set a zero-tolerance policy
government investments and expenditures. As part of our on violations of laws and regulations, making compliance a top
corporate responsibility, we strive to ensure that we comply with priority across all stakeholders.
applicable tax laws and regulations and pay applicable taxes.
Our Tax Principles set out values and principles that guide our
actions with respect to taxation. We have designed our internal
In addition, employees can report any violation of laws
control processes and procedures to ensure that the Company
and regulations through unanimous call channel, an
complies with tax laws and avoid any violations of applicable
internet-based system known as “SpeakUp”.
laws and mitigate any reputational risk.

Compliance activities
In 2022, the Company concentrated its efforts on training of our employees. The training was focused on preventing corruption, code
of conduct, compliance basics, competition law, and anti-money laundry (AML). These trainings were due to their high risk profile at our
Company. Our Company registered 136 employees for compliance training (see table in the next page). We also intensified our efforts
to protect human rights in our supply chain.
E-learning Completion Rates
2022 2022 2022

2 yy HY I* 2 yy HY I I** 2 yy HY I*
Compliance Basics
Nb total still active users assigned# 136 5 37
Completed 136 5 37
Completion rate of total assigned users 100% 100% 100%
Competition law
Completed 11 4 34
Preventing corruption
Completed 29 5 75
*H1 = As in Compliance Report January-June

*H2 = As in Compliance Report July-December
# Figures refer to the repetition cycle of two years between main roll-outs of each compliance course.

Product and Innovation
As part of the HeidelbergMaterials, TPCPLC is committed to Use of recycled of materials

offer carbon-neutral products in its portfolio. To achieve this, As part of our efforts to adopt sustainable practices, we have
we must appreciate the amount of research and development established a plant to utilize biomass and recycled materials as
that has taken place at the Group level and cascaded down to a source of energy for our production processes. This alternative
all subsidiaries including TPCPLC. Our Company is committed to fuel plant enables us to generate the energy needed for clinker
reduce CO emission in its operations. This requires among other production while reducing our reliance on traditional fossil fuels.
things innovation and process improvement that will minimize
energy consumption. Thus, minimal environmental impact and Digitalization
cost reduction. To achieve this goal, we have consolidated our To deliver better services to customers, TPCPLC is embracing
efforts into the following focus areas: digitalization, which involves examining the entire value chain,
including quarrying, production, procurement, and logistics,
Focus on customers among others. The Company is actively involved in the digital
TPCPLC is dedicated to delivering quality products and services space to optimize its customer-centric culture. After constant
to its customers. Our team is committed to maintaining a engagement with stakeholders, TPCPLC has developed
competitive edge both at Wazo Hill and in the market, thanks solutions such as a customer portal, e-procurement, and logistic
to our diverse distribution network, which allows our products management systems.
to reach remote areas. Our company also exports products
to neighboring East African countries. We strive to provide a Sustainable products
customer experience that goes beyond the products we offer by TPCPLC is committed to reduce to the lowest possible from its
understanding their needs, providing expert advice on product operations and products offered to customers. This is in sync with
application, high-quality service, and customized solutions that fit the Sustainability Commitments 2030. The Company, with the
their environment. help of HC Group, continues to invest in developing innovative
low-carbon production technologies and products.
Machinery technological improvements
The Company continues to invest in modern technology to In alignment with the Sustainability Commitments 2030, TPCPLC
improve overall plant capacity. That is, to increase production is dedicated to minimizing its carbon footprint in its operations
capacity, improve quality, reduce energy consumption and and products. The Company collaborates with HC Group to invest
reduce environmental footprint. From 2021, the Company took the in novel low-carbon production technologies and products.
following initiatives:
• Rehabilitate Cement Mill 2.
• Implement Cement Kiln Dust (CKD) Project - with the CKD in
place, the Company is now able to collect kiln dust and utilize
the dust as raw material in cement production. The recycling
of kiln dust improves the raw materials mix as well as CO2
emission.
• Construction of Alternative Fuel Plant – the Company intends
to use this plant to generate energy for use in the production
process. The input for this plant will be sourced locally and
will include materials such as rice husks, cashew nuts, saw
dust, plastic wastes etc. Energy generated from this plant will
complement the natural gas currently used in the production
of cement. This plant can be used to recycle municipal
wastes and thus improves the general hygiene of the city of
Dar es Salaam. The construction of the alternative fuel plant
started in the last quarter of 2022 and will be commissioned
in 2023. The alternative fuel plant will play a vital role in the
reduction of CO2 footprints in our operations.
• Continuous improvements of cement mill no. 4 and 5 lines,
and kiln no. 3 and 4 lines.

Production and Supply Chain Energy and climate protection

The production of cement requires a significant amount of
TPCPLC focuses its sustainability strategy on environmental energy to generate the high temperatures necessary for burning
responsibility, ensuring permanent availability of resources and limestone, which results in CO2 emissions from combustion.
climate protection. Our production processes operate sustainably, The calcination process, where the raw material is heated
and we aim to make our suppliers and business partners aware to temperatures as high as 1,450°C, also produces process-
of and adhere to our standards through our Code of Business related CO2 emissions from the limestone. TPCPLC is committed
Conduct. to climate protection and reducing its carbon footprint in
accordance with its sustainability commitments for 2030. To
Environmental management achieve this, the Company aims to increase the proportion of
TPCPLC‘s Board of Directors has integrated environmental alternative fuel in the mix to 10% by 2023 and to intensify the
protection into the company‘s business strategy. The use of alternative raw materials, thereby reducing the clinker-to-
management team is responsible for reporting all matters related cement ratio. By utilizing waste materials and by-products from
to the sustainability agenda to the Board, and the Managing other industries as raw materials and fuels, TPCPLC is promoting
Director oversees the entire sustainability agenda with the help a circular economy.
of the management team. Guidelines and goals are created to
assist operating units in implementing practical sustainability 2020 2021 2022
initiatives and improving areas of concern, and action plans are
Specific net CO2
coordinated to ensure the successful implementation of these 525 523 539
eissions
initiatives.
Alternative fuel rate 0.2% 0.5% 3.1%
The Environment Manager is responsible for the proper recording
and transmission of data related to production, operations,
Reduction of Scope 2 emissions
consumption, and emissions, as well as the day-to-day operations
Alternative fuels
of environment-related activities and compliance with legal and
Our Company values waste materials and by-products from other
regulatory requirements.
industries as valuable resources in the production of cement,
In the reporting year, TPCPLC did not violate any environmental
serving as substitutes to fossil fuels and natural raw materials
protection laws during its business activities. The company
which are limited. This approach not only conserves these finite
continues to maintain its ISO 14001:2015 Environmental
resources, but also addresses waste disposal challenges while
Management Systems (EMS) certification, and a renewal
reducing our CO2 emissions. In 2022, our Company utilized
audit was conducted in 2019. TPCPLC strives to improve its
waste-based biomass as a substitute for traditional fuel,
Environmental Management Systems by following planned
contributing to 3% of our alternative fuel mix. By using these
Environmental Monitoring Programmes as per national
waste materials, we promote a circular economy and reduce our
and Heidelberg Cement requirements and keeping up with
environmental impact while supporting sustainable practices.
environmental trends.
Alternative fuels to replace natural resources

To assist Heidelberg Material in achieving their goal of reducing
ISO 14001: 2015 Environmental Management CO2 emissions to almost half of 1990 levels by 2030, our Company
Systems (EMS) certified is increasing the use of alternative fuels. The Alternative Fuels
Our plant renewed its certification on environmental Project is led by a team of experts from various departments.
management systems in 2019 As of 2022, the proportion of alternative fuel in the mix was 5%,
and we aim to increase it to 15% by 2030 through our Alternative
Master Plan, thus achieving our CO2 reduction targets.
Use of hazardous materials

Our Company contributes to the Country‘s hazardous waste
disposal by utilizing cement plants. This is one of the safest
methods for disposing of hazardous waste, as our kilns operate at
high temperatures of over 1,400°C, ensuring complete destruction
of all harmful components. We offer this service as needed, and it
is an essential aspect of the country‘s waste disposal process.

Land use and biodiversity Indicator Measurement Impact

Currently, our Company operates a quarry situated at Wazo Approximated area coverage Area 3
Hill from where we extract the raw materials necessary for
Training workshops / seminar /
the production of cement and clinker. Our mining activities Events 5
awareness
strictly adhere to the legal framework governing mining and
environmental regulations. We comply with the Mining Acts
Quarry rehabilitation and renaturation is an on-going exercise
2010 and Mining Regulations 2010, including any revisions or
and it is integrated into the Company’s operations. This is a
amendments related to them.
requirement that the Company is committed to comply.
Quarry Rehabilitation and Renaturation

Biodiversity management at our quarry
TPCPLC‘s Quarry Rehabilitation and Renaturation Project (QRRP)
Life is continually coming back within the quarry through
began in 2010. The project involves selecting, planting, and
biodiversity enhancement as a result of project implementation.
caring for trees and vegetation within the Wazo Hill quarry. It
The biodiversity is in the various forms of flora and fauna species.
aims to support urban greening and environmental conservation
While the fauna
activities, as well as to raise environmental awareness and build
species include a increase in the number
capacity to promote environmental conservation in Tanzania.
good representation of bird species between
of all key taxa of 16% 2018 and 2022 from 108
Indicator Measurement Impact
wildlife including to 125 respectively
Seedling raised in quarry Number 12,609 birds, reptiles,
Total trees planted in the quarry Number 3,393 amphibians, mammals and invertebrates; the vegetation
Total trees donated to component is characterized by the enhancement secondary

Number 25,165
stakeholders vegetation catalyzed by the ongoing rehabilitation and
Survival rate of seedlings raised renaturation efforts as well as the continuous emergent of the
% 85.48%
in the nursery natural vegetation. It was noted that between 2018 – 2022, the
Survival rate of trees planted in number of bird species increased to 125 from 108.
% 52.81%
the quarry

Local environmental impact
Quarry Life Award

The Quarry Life Award, a research and education competition, is participated
by TPCPLC as part of the Group‘s initiatives. It is open to researchers, university
students, non-governmental organizations, and local communities surrounding
our Company‘s quarry. The competition aims to generate feasible ideas or
solutions for the ecosystem at our quarry. In the 2022 competition, 6 research
entries were presented, including 3 scientific and 3 community-based projects.
Air pollutants and noise

The Company‘s Sustainability Commitments 2030 includes managing and
controlling emissions from the plant, including those related to dust and noise.
To mitigate the impact of our activities on the environment and neighbouring
communities, we have installed filters to suppress emissions of air pollutants.
We ensure that the emissions are within the national legal limits and have
pledged to reduce air pollutants.
Waste materials Cost as a % of

2020 2021 2022
Our focus in waste management is mainly on kiln dust, a revenue
byproduct of clinker production. Kiln dust is removed from the kiln
Costs 21% 24% 24%
systems to prevent any disturbance to proper kiln operation. The
Raw materials 20% 17% 17%
Company takes advantage of kiln dust‘s unique properties and
uses it as an alternative raw material in cement production. Energy 9% 5% 6%
Grinding and
4% 4% 4%
Water management packaging
TPCPLC has committed to minimizing the impact of its operations Repair and
3% 4% 6%
on natural water resources by reusing 40% of the water it uses. maintainance
To achieve this, water is stored in reserve tanks and circulated Distribution 2% 1% 1%
to cool machinery. The resulting hot water is then sent to the Consumables 3% 1% 2%
chiller for cooling before being returned to the reserve tanks
Others 0% 0% 0%
for recirculation. The Company also adheres to environmental
regulations to ensure that its quarrying activities do not pose a
Our Company is committed to ensuring supply chain
risk to surface water or groundwater resources in the local area.
sustainability by adhering to relevant standards. Our purchasing
The water used by the Company is supplied by DAWASA, stored
guidelines cover supplier relations and purchasing processes,
in reserve tanks, and circulated for cooling machines. To minimize
with the Supplier Code of Conduct being a critical tool. This code
water consumption, the Company recycles 40% of the water.
incorporates key elements of international social accountability
Wastewater from Company buildings is disposed of through the
and environmental standards, as well as the principles of the
municipal wastewater system in compliance with environmental
International Labour Organization. Suppliers who fail to comply
regulations.
with the Code and correct identified deficiencies may have their
contracts terminated. We communicate our sustainable supply
Management of supplier relations
chain standards to suppliers and hold discussions to address
TPCPLC procured goods and services with a total value of TZS
requirements beyond the Code of Conduct.
294.5 billion. This is equivalent to 59% of total revenue.
of our procurement volume is

77% from local supplies

Occupational Health and Safety
360 without Loss Time Injuries (LTI).

hours Health and Safety is our Top Priority.
The safety and health of everyone involved in our operations (OHSMS) are used as risk management strategies. The company
remain a top priority for TPCPLC. We invest in health and safety is ISO 45001:2018 certified, and it complies with local, regional,
to create a safe work environment and prevent accidents that national, and international OH&S legislation.
may result in fatalities, injuries, disabilities or illnesses. Our
occupational health and safety policy outlines our commitment to The Health and Safety department monitors OH&S activities,
protecting our employees and stakeholders. ensures that employees and subcontractors comply with rules,
and implements measures such as training, risk assessments, and
Key Health and Safety highlights for year 2022 health and safety reporting. Employees have a platform to record
safety matters through support from the HC Group. TPCPCL also
2020 2021 2022 fulfills legal requirements by conducting medical surveillance,

which includes annual fitness to work medical examinations
Lost time injury employees 0 1 0
covering general physical examination, vision test, blood pressure
Lost time injury contractors 3 0 0
measurement, lung function test, and hearing test.
Lost time injury frequency rate 0 2 0
OH&S expenditure (TZS’Billion) 1.79 1.64 1.59 As of December 2022, the Company has achieved over 360
hours without any Loss Time Injuries (LTI). This milestone
Occupational safety as a management task demonstrates the Company‘s unwavering commitment and
At TPCPLC, the management of health and safety is a top priority, dedication to providing a safe and healthy working environment
and the company invests in appropriate tools and standards for its employees and stakeholders. Moreover, this achievement
to ensure a safe work environment for all stakeholders. The highlights the positive impact of the Company‘s efforts to
Occupational Health and Safety (OH&S) Policy, OH&S standards, promote behavioral change among its staff and contractors
and Occupational Health and Safety Management Systems regarding health and safety issues.

Health and Safety Week 2022
such as transporters, health insurance providers, customers, and

The Company‘s annual safety awareness program involves various
neighboring communities. The theme for the 2022 Health and
activities related to occupational health and safety. Its objective
Safety Week was Dynamic Risk Assessment is Life-saving,“ and
is to promote a culture of health and safety in the workplace and
all the activities conducted during the week were based on this
increase awareness among workers and other stakeholders
theme.
Activity Topic Measurement Output

Non-communicable diseases Numbers of FTE & contractors trained 230
Basic lifesaving skills (first aid) Numbers of FTE & contractors trained 113
Training
Traffic management, defensive and safe driving Number of drivers trained 96
LOTOTO Numbers of FTE & contractors trained 34

Firefighting skills Numbers of FTE & contractors trained 207
Plant inspection Number of sites inspected 7
tion
Inspec-
Vehicles inspected Number of vehicles inspected 200
Employees and Employment Talent management

TPCPLC values qualified and motivated employees for their
With 257 employees, TPCPLC acknowledges that their success is role in the Company’s success. The personnel policy focuses
attributed to the staff‘s efforts, enabling them to become one of on identifying and developing talented employees to maintain
the leading cement industry companies. In recognition of this, the competitiveness. Performance and potential are assessed for
Company prioritizes creating an appealing work environment for strategic development and succession planning. Reviews are
its employees. Being a manufacturing entity, the Company places ongoing to identify talent and support development for critical
a high emphasis on the health and safety of their workers. roles.
Highlights Employment and co-determination

Number of trainees and retention trends for Tanzania Portland
Cement PLC. Development of the number of employees
In 2022, the number of employees decreased to 257 compared to
2020 2021 2022 260 in 2021 mainly due to retirements.
Employee headcount (Full time

257 260 257 Dialogue with employee representatives
employees)
TPCPLC has a positive relationship with its employees who are
Number of FTE seconded to
- 2 2 members of the Tanzania Union of Industrial and Commercial
other countries
Workers (TUICO). A constructive relationship between TUICO and
Number of trainees 32 39 44
management is maintained, and a fair and transparent dialogue
is upheld, as outlined in our Code of Business Conduct. The
Principles
relationship between management and employees is governed
TPCPLC believes that a sound personnel policy should value and
by a voluntary agreement established between TUICO and the
respect the Company’s employees, who bring with them a wide
Company.
range of extensive experience and talents. To achieve this, the
In the event of a reorganisation leading to job losses, we work
Company is obligated to provide a conducive environment that
in close consultation with TUICO to find a socially responsible
enables employees to work with dedication and efficiency. This
solution. The affected employees are made aware of any
includes fair compensation and a non-discriminatory workplace
development and decisions. If all options to retain the employee
that empowers employees to reach their full potential. As a
fail, terminal benefits are considered for those employees
manufacturing company, TPCPLC also prioritizes the occupational
impacted by reorganization.
safety and health protection of its employees.

Employees and employment
TPCPLC upholds core labor standards and guidelines with employees and
stakeholders, expecting compliance from all. Employees receive booklets on the
company‘s code of business conduct and ethics training. Social committees,
supported by TPCPLC, are open to all staff, including women‘s groups and sports
activities.
Remuneration policy and working time regulation

TPCPLC‘s remuneration systems are structured to reward employees based on their
qualifications and, more significantly, their performance. This system is made up of
two components: a fixed element governed by an individual employment contract
or collective bargaining agreement, and a variable element based on both the
individual‘s and Company‘s performance. To be eligible for the variable element, both
the financial and sustainability targets, including CO2 reduction, must be met.
Personnel costs and social benefits

Expenditure on personnel costs increased by 2.8% compared to the previous year,
amounting to TZS 22.28 billion (2021: TZS 21.67 billion), which includes salaries, wages,
post-employment, and social security contributions. TPCPLC also provides other
benefits to its employees, such as transportation to and from the office, canteen
services, medical coverage, and long-service awards.
Training
The Company places great emphasis on talent development, with formal training
courses such as the Young Engineers Talent, Middle Managers, and Senior Manager
Programs. Furthermore, the Company supports its employees in pursuing professional
qualifications in their respective fields. TPCPLC also cooperates with the government
to provide practical training to graduates. As of 31 December 2022, the percentage of
retained trainees at TPCPLC was 5%, and the trend of trainees is shown below.
Number of trainees and retention trends for TPCPLC
2020 2021 2022
Trainees 32 39 44
Retained 3 5 2
Rate 9% 13% 5%
Women in leadership positions

Diversity management
TPCPLC is making significant strides towards its sustainability
Diversity as a factor for success
objective of increasing the proportion of women in its
TPCPLC’s personnel policy seeks to build a team with a
workforce.
variety of experiences, skills, and personalities. Diversity is
regarded as an asset to the company, including gender, age,
This criterion is taken into account when recruiting candidates
cultural, and ethnic origin. This diversity, along with a strong
for different positions within the company, promoting diversity
corporate culture, has a positive impact on innovation and
and inclusivity.
enhances overall company performance. A primary objective
As of December 31, 2022, the number of women in leadership
of the company is to attract and promote highly skilled and
positions remained unchanged at 7, the same as in 2021.
dedicated employees who can bring diverse professional and
Furthermore, there is one woman who serves as a member of
social skills to the organization, thereby contributing to its
the Board of Directors, representing 16.7% of the current Board
success.
consisting of six (6) Directors.

Society and Corporate Responsibility
Social responsibility
Businesses worldwide are recognizing the importance of Key areas of
Our progress
their role in promoting social development, and corporate focus
social responsibility (CSR) goes beyond just business Building, Providing practical help in the
processes. TPCPLC is dedicated to making a positive impact architecture and construction of buildings and
in this regard. As a responsible corporate entity, TPCPLC infrastructure infrastructure for the benefit of society.
interacts actively with nearby and local communities and
encourages a lively and dynamic society through volunteer Cooperating with partners in order
Environment,
initiatives. While meeting local needs, TPCPLC ensures it to preserve and protect environment
climate and
respects and preserves cultures and identities. by promoting climate protection and
biodiversity
biological diversity.
TPCPLC’s social responsibility and the Improving children’s chances of
sustainability ambition 2022 succeeding in education by promoting
TPCPLC‘s Corporate Social Responsibility (CSR) strategy the physical, cognitive, linguistic
Education, training
outlines its objectives and focus for 2022-2023, aimed at and socio- emotional development
and culture
ensuring efficient coordination of voluntary activities that of students. Promoting culture helps
involve both employees and stakeholders. The management increase creativity, diversity and
is responsible for deciding on the specific actions to quality of life.
be taken and the external partners to collaborate with, Contributing to numerous emerging
based on Heidelberg Cement‘s and TPCPLC‘s leadership activities if the budget allows and if
Emerging events
principles, code of conduct, corporate citizenship policy, and the events are in line with the areas of
other compliance standards. The strategy aligns with the focus of our CSR strategy.
Company‘s commitment to responsible business practices
and community engagement. Achieving the goals
The CSR initiatives complement Heidelberg Cement Group‘s
TPCPLC‘s social responsibility areas of focus Sustainable Ambitions 2030 program. The 2022 program focuses
TPCPLC supports projects, organizations and initiatives on projects aimed at environmental preservation and people‘s
that are based in Tanzania and aligned with TPCPLC’s Code well-being, which aligns with our corporate responsibility. The
of Business Conduct, other compliance standards, the highest priority areas of the program are health and safety,
Leadership Principles and the sustainability ambition 2022 biodiversity, sustainable construction, waste management,
to create long term benefits and value for the society and climate protection, and reducing environmental impacts. TPCPLC
have a high profile within the society and meet the legal will utilize its management expertise to oversee the projects and
regulations. employ monitoring and evaluation techniques to ensure that
beneficiaries receive maximum benefits

Our CSR collaborations in pictures

Volunteering
Our champion, Collins together with the TPCPLC team visited Mogha Primary School to talk to
the students and inspire them towards attaining their goals in life. Collins provided an inspiring
message to the young students at Moga Primary School on how to be successful in life through
setting goals, be positive, disciplined, hard work and being humble
“Mogha Primary School”
During Safety Week in 2022, the Safety and CSR team from TPCPLC visited Boko Secondary School to provide in-
depth training in first aid and firefighting. During the tour, we observed a variety of ongoing projects around the
school, such as the renovation of classrooms and construction of a wall fence around the school. In recognition
of these needs, the Company donated bags of cement to assist the school to complete these projects.
“Boko Secondary School”
Our CSR collaborations in pictures

Sponsoring
The Company sponsored staff who participated in the CRDB Marathon to raise funds to Jakaya
Kikwete Cardiac Institute (JKCI) paediatric cardiac operations and the CCBRT campaign to
improve maternal health outcomes in high-risk pregnancies
“CRDB Marathon”
Collins Saliboko is a skilled swimmer from Tanzania who has competed in several international events including
the Commonwealth Games, FINA World Championships, Youth Commonwealth Games, CANA Championships,
and British National Championships, among others. As a part of our Company’s commitment to supporting
young talents in Tanzania, we are assisting Collins in his quest to qualify for the Paris Olympics in 2024. Our
motto for this initiative is “Twiga Cement Building The Future.”
“Collins Saliboko”

Education and Charity

As a part of its CSR efforts, the Company strives to provide support to schools and orphanages ocated near the factory and other
locations across Tanzania. The Company extends assistance to schools and orphanages by providing general support and cement for
the construction and renovation of classrooms and dormitories.
In 2022, during the Health and Safety Week commemoration, the Company visited Boko Secondary
School and donated bags of cement to cater to the repair and maintenance needs of the school.
“Mogha Primary School”
Located within the cement plant surrounding communities. Center has around 70 children between the ages of
1-17yrs. TPCPLC Womens group as continuously supported with center with foods, books and building materials
over the years, which has enabled the center to build a separate boarding house for children above 10yrs.
TPCPLC Women donated books, food stuff and soma bags to the children’s center.
“Mama wa Huruma (Mother of Mercy) Orphanage”
Next Section:
Reports to Our Shareholders

In the Section
The Report By Those Charged With Governance 46

Ripoti ya Wale Walioshika Madaraka ya Utawala 70
Statement Of Directors’ Responsibilities 94
Declaration Of The Head Of Finance 95
Independent Auditor’s Report 96

The Report By Those Charged With Governance
The directors present their report and the audited financial statements for the financial year ended 31 December 2022 which disclose
the state of affairs of Tanzania Portland Cement Public Limited Company (“the Company” or “TPCPLC”).
Incorporation Our Vision Our Mission

The Company is incorporated To develop a strong identity, To satisfy customers by
in Tanzania under the be the market leader and the providing them with high-
Tanzanian Companies Act, first choice amongst cement quality products and services
2002 as a Public Company consumers in Tanzania. at an affordable price.
limited by shares.
Company Operations
Principal Activities and caused supply chain issues. As well, Tanzania’s annual
The Company’s principal activity during the year was headline inflation for 2022 escalated to 4.3% compared to the
manufacturing cement at its plant at Tegeta – Wazo Hill, Dar Es previous year’s 3.7%.
Salaam, Tanzania and selling cement both inside and outside
Tanzania. Despite steady growth driven by increased construction
activities and the government’s emphasis on infrastructure
Economic and Market Environment development, Tanzania’s cement market remains fiercely
Throughout 2022, the worldwide economy experienced competitive. The high production costs, which are partly
a substantial decline in comparison to the previous year. due to expensive energy and raw materials, pose significant
Numerous nations saw a notable increase in energy and fuel challenges to maintaining competitiveness in both the local
prices due to geopolitical tensions such as the Russia-Ukraine and export markets.
conflict, which also caused a surge in global food prices
Business Model
As a major cement producer in the country, TPCPLC has a strong Products

sales record. Our products cater to the increasing demands for Cement is our core product. We classify our high-quality cement
housing, transportation, and economic development in Tanzania based on its early and final strength and composition. Our clients
and East Africa by supporting the construction of residential, for our top-notch cement range from regular constructions and
commercial, and industrial facilities. We are also committed to government infrastructure projects to producers of ready-mix
achieving carbon neutrality in cement manufacturing and are concrete, and the general public through our distributorship
working towards sustainable and intelligent cement technologies network. Our cement products are packaged in bags, big bags,
while offering digital solutions to our customers. and bulk.
Our business model covers the entire value chain from the In simple terms, below is the list of our top-notch products;
extraction of raw materials to the processing of cement and
distribution to customers. Our operations are supported by
Central Competency Centers for technology, which are owned Twiga Ordinary (CEM I 42.5N)
by our main shareholder. We carry out geological exploration of Mainly used for high-quality concrete, and
raw material reserves, assess environmental impact, extract raw overall building of large buildings, dams,
materials, rehabilitate extracted areas, and produce cement as and bridges.
part of our operational processes.

of primary raw materials. At the product level, we prioritize

Twiga Plus+ (CEM II B-L 42.5N) low-carbon cement compositions, the use of recycled
Mainly used for building blocks, large materials, and the adoption of new technologies to support
and medium size buildings, dams and our goal of achieving carbon neutrality.
bridges, etc.
External factors of influence
Apart from weather conditions and economic and
Twiga Extra (CEM II B-L population growth, the operational and economic
32.5 R) development of TPCPLC is primarily impacted by
Mainly used for the overall fluctuations in energy and raw material prices in both local
building of houses and block and global markets, changes in the regulatory environment,
making etc. and competition within the markets where we operate.
Digitalisation
Digitalisation – including digital products and applications
Twiga Super (CEM II B-L 32.5N) plays a crucial role throughout our entire value chain, from
Mainly used for the improvement of raw materials mining, production, and logistics to the final
soil binding strength, most especially interaction with our customers. TPCPLC has set itself the
road constructions, etc. target of becoming the leading tech company in the cement
industry. We aim to use digital solutions to contribute to
Company growth and increase efficiency in production and
Twiga Jenga (MC 22.5 X) administration. Our digital transformation strategy in sales
Mainly used for installation of is to cover more than 75% of our sales volume via digital
tiles, minor house improvements, interfaces to customers (customer portal app) in 2023.
building blocks, etc.
Corporate Portfolio
Our customer portfolio is diversified, including both
developed and growth markets, and we consider it to be
The significance of integrating a strength. We aim to simplify the portfolio through active
sustainability into the business model management and prioritize the strongest market positions
We aim to make a significant improvement in reducing based on defined financial and non-financial criteria.
the environmental impact of our business operations and
decreasing our carbon footprint. As one of the leading We plan to expand our presence in markets with growth
cement manufacturers in the country, we acknowledge potential, while also vertically integrating along the value
our responsibility to lead the way in driving sustainable chain in markets where we can achieve strong synergy
practices across the industry. Our goal is to contribute effects and strengthen our positions. Furthermore, we will
significantly towards sustainable cement production and continue to invest in sustainability and digitalization, which
achieving carbon neutrality through prioritizing social and we see as transformative areas, and expand our portfolio in
environmental responsibility as well. these areas.
To achieve our objective, climate protection is an essential

element of our business strategy. We understand that
cement production generates CO2 due to the chemical
processes required for clinker burning, which is why we are
increasing our use of alternative raw materials and fuels to
reduce CO2 emissions.
We are also working to optimize our production processes

to increase energy efficiency while promoting circularity
and a strong circular economy to reduce the consumption

Business Model Continued
Value creation for our shareholders managers discuss business developments, including target
In order to achieve sustainable value and measure our business achievement, the outlook for the fiscal year, and any necessary
success, we have established key performance indicators that are measures based on TPCPLC’s quarterly forecasts.
relevant for management. These include the result of the current
operation (RCO), return on invested capital (ROIC), and net CO2 Value we Created
emissions. In addition, we also use revenue development, result of
Operating Profit
the current operation before depreciation (RCOBD) margin, and
leverage ratio as supporting information.
TZS 135.9bn 2021: TZS 125.6bn
To evaluate and achieve our strategic goals, we have implemented

Profit After Tax
a value-oriented management system. This system involves annual
operational planning, management and control throughout the
TZS 97.4bn 2021: TZS 88.5bn
year, monthly management meetings, and regular departmental
meetings.
Operating Cash Flow
We employ a comprehensive system of standardized reports to

TZS 79.2bn 2021: TZS 113.3bn
manage and control the company throughout the year. These
reports cover TPCPLC’s assets, cash position, and earnings
Benefits to Stakeholders
position, with the indicators used being uniform throughout the
To our Shareholders: Returns and growth
company. Weekly reports on cash inflow and outflow are prepared,
and monthly reports cover operating profit, production, and To our Customers: Quality products
maintenance.
To Government: Taxes and quality products
for infrastracture developement
Detailed financial reports are provided at the end of each month
and quarter. During quarterly management meetings, TPCPLC’s To Society: People career development and
key management personnel and main shareholder’s cluster better built environment
Research and development

TPCPLC’s research and development (R&D) efforts aim to create innovative products, develop new product formulations, and improve
processes in order to lower energy consumption, conserve resources, strengthen the circular economy, reduce CO2 emissions and
costs, and enhance customer satisfaction.
Our Research and Development Focus
Advanced automation Carbon footprint reduction CO2 reduction

solutions development through cement development technology development
Utilizing artificial intelligence, we seek We are working on composite cement We aim to increase the use of biomass
to reduce energy consumption, maintain with lower clinker content. This is the fuels and are currently exploring more
equipment in optimal condition, and most crucial step in reducing energy stable sources for this purpose.
ensure consistent product quality. consumption and CO2 emissions
during production, while also helping to
preserve natural resources.

Operational Performance
TPCPLC outlook in numbers. In comparison to the previous year,
Figures in TZS Millions 2022 2021 Change% Twiga Plus has experienced an increase in
Income statement turnover of TZS 81.4 billion. However, Twiga

Extra’s turnover has decreased by TZS 31.3
Revenue 494,716 449,509 +10.1%
billion and Twiga Ordinary’s turnover has
Operating profit 135,939 125,582 +8.2%
decreased by TZS 7.9 billion, in comparison
Profit for the financial year 97,359 88,482 +10.0%
to the previous year.
Earnings per share (TZS) 541 492 +10.0%
Dividend per share (TZS) 390 390 0.0%
The cost of sales increased by 12.1%
compared to 2021, mainly as a result of
Investments in Tangible Assets & PPE 14,611 27,828 -47.5% increased raw materials costs due to
increased production, and distribution costs
associated with deliveries of cement to
Depreciation and amortisation 20,645 18,666 +10.6%
customers.
Balance sheet
Non-current assets 149,032 148,636 +0.3%
The Company made a total operating profit
Current assets 269,860 230,678 +17.0% of TZS 135.9 billion compared to TZS 125.6
Equity 299,738 272,236 +10.1% billion in 2021, an increase of 8.0%. Profit
Non-current liabilities 20,822 19,545 +6.5% before tax increased from TZS 128.0 billion
Current liabilities 98,333 87,533 +12.3% in 2021 to TZS 140.1 billion in 2022.
Balance Sheet Total 418,893 379,314 +10.4% After the effect of the income tax of TZS
Ratios 42.7 billion (2021: TZS 39.6 billion), the profit
Operating Income (OI) Margin 27.5% 27.9% -0.5% for the year was TZS 97.4 billion (2021: TZS
Return on total assets before taxes 9

33.6% 33.9% -0.3% 88.5 billion). Total comprehensive income
Return on equity10 32.6% 32.1% +0.5% amounted to TZS 97.7 billion (2021: TZS 87.4
Return on revenue 11
19.7% 19.4% +0.3% billion).
The Board of Directors will propose to the
Non-Financial Figures:
shareholders a dividend distribution of TZS
Number of employees at year-end 257 260 -1.2%
390 per share (2021: TZS 390 per share).
Extensive operating results information is found from page 98.
Revenue and results

There has been a general improvement in production, with an increase of 4.8% in
clinker production and 4.7% in cement production compared to 2021. This can be
attributed to the overall improvement in the performance of the machines as well as
cement in the market growth despite stiff competition.
The Company
recorded an increase
Clinker production +4.8% in sales volume by
+4.7% 4.7% compared to

Cement production
2021. The turnover
Cement sales volume +4.7%
increased from 449.5
billion in 2021 to TZS
494.7 billion in 2022,
an increase of 10.1%. The overall improved performance and market growth have
contributed to this increase in turnover.
9 Result before tax from continuing operations + interest expenses / balance sheet total
10 Net income from continuing operations/equity
11 Net income from continuing operations/revenue
Operational Performance Continued
Cash flow position operations. Additional focus has been placed on projects that will
In a challenging market environment and in the context of the increase production capacity and reduce CO2 emissions through
significantly higher prices for energy and raw materials, increased the utilization of biomass energy.
lead times, and disruptions in the supply chain compared with
the previous year, the cash inflow from operating activities in the Cement Mill No.2 rehabilitation and the Cement Kiln Dust project
2022 financial year was below the level of the previous year at (CKD) projects, all completed during the year 2021, continue to
TZS 79.2 billion (2021: TZS 113.3 billion). support in improvement of production capacity for the Company.
The Directors believe the Company is well-placed to meet this
The cash flow from operating activities was negatively impacted growing demand.
by the increase in total operating receivables of TZS 14.6 billion
and the increase in total inventories of TZS 34 billion compared The Alternative fuels project, fully completed in 2022, is supporting
to the previous year. This increase can be attributed to the TPCPLC to progress further towards becoming a carbon-neutral
rise in raw material prices and supply chain disruptions, which company through improving alternative fuel consumption, thus
necessitated an increase in inventory levels to ensure the smooth reducing our CO2 footprint in the environment. The management
running of operations. is focused on sustainable production through consistent reduction
of CO2 emissions and also supporting the development of a
Earnings anticipation circular economy.
We anticipate a modest growth in cement revenue in 2023, even
though there is a projected uneven surge in the costs of raw Solvency Evaluation
materials, consumables, and supplies as well as a moderate
The Directors have reviewed the current financial position of the
increase in other operating expenses, we expect the operating
Company and the existing short-term borrowings. Based on this
results for the financial year 2023 to be slightly better than 2022.
review together with the current business plan, the Directors are
satisfied that the Company is a solvent going concerned within
Future Prospects Of The Company
the meaning ascribed by the Companies Act, 2002 of the Laws of
The cement market in Tanzania and the East African region Tanzania and International Financial Reporting Standards.
has been growing steadily over the past years. TPCPLC has
invested in expanded capacity, rehabilitated old clinker lines, Major Events
and identified strategic sources of raw materials to secure its
There were no major events during the year.


Corporate Governance
“TPCPLC adheres to strict Corporate Governance

standards to ensure the Company’s long-term value
and success while considering the interests of its
diverse stakeholder groups, including shareholders,
customers, suppliers, employees, and the
communities where TPCPLC conducts its operations.”
TPCPLC has three institutions: the Annual General Meeting, the Board of Directors, and the Audit Committee. The tasks and
responsibilities of these institutions are primarily based on Stock Exchange Regulations and the company’s Articles of Association.
The Board of Directors is of the opinion that the Company complies with principles of good Corporate Governance as required by
the Stock Exchange Regulations.
The shareholders exercise their rights before or during the Annual General Meeting and thereby exercise their voting right.
The ordinary Annual General Meeting is normally held in the first five months of the financial year. A company proxy bound by
instructions is also available to shareholders to exercise their voting rights at the Annual General Meeting.
1. The Annual General Meeting

Our 3 main Corporate 2. The Board of Directors
Governance institutions:
3. The Audit Committee

Our Code of Business Conduct (CBC)
Sustainability
– the consideration of sustainability Health and Safety

and environmental concerns
ensuring a healthy and safe
– considerate handling of the
workplace for all teams
country’s natural resources.
Compliance
Non-Discrimination
-strict compliance with all
applicable laws fair, non-discriminatory
– consistent avoidance of
CBC DISCRIMINATION employment conditions
conflicts of interest and fair dialogue with the
employee representatives
Integrity
Responsibility
integrity and professional
behaviour towards customers, – careful and responsible
suppliers, authorities, and handling of the Group’s
business partners property and assets,
– careful and responsible
handling of company datas

Corporate Governance Continued
Our Board of Directors
The Board currently comprises six directors: five Non-Executive Directors and the Managing Director. The roles of the Chairman
and Managing Director are separate to achieve a balance between management and control. The Board is responsible to
shareholders for corporate governance of the Company, for setting strategy and policies, monitoring of operational performance,
risk management processes, and setting of authority levels. The Board is scheduled to meet 3 times during the financial year.
The directors of the Company who served during the year, and to the date of this report
Mr. Hakan Gurdal Mr. Alfonso Velez Mr. Oswald Martin Urassa
Chairman Managing Director Director
Initial Appointment: 23 Aug 2016 Initial Appointment: 29 Aug 2017 Initial Appointment: 25 May 2016
Nationality: Turkish Nationality: Spanish Nationality: Tanzanian
Age: 54 Age: 54 Age: 58
Mr. Hakan Gurdal appointed Chairman of Mr. Alfonso Velez was appointed as the Mr. Oswald Urassa, is a CFO of Tanzania
TPCPLC Board in August 2016. He studied Managing Director of TPCPLC from August Mortgage Refinance Co. Ltd. He studied
mechanical engineering at the Yildiz 2016. In August 2017 he was appointed finance at the University of Dar es Salaam
Technical University in Istanbul and holds as the General Manager for Central and he is registered by the National
an MBA in International Management and South-East Africa operations which Board of Accountants and Auditors
from the University of Istanbul. comprised of Tanzania, Congo DRC, (NBAA) in the category of Certified Public
He joined Canakkale Cimento (today Mozambique and South Africa. Accountant in Public Practice (CPA-PP).
part of the joint venture Akcansa) in 1992. Alfonso holds a Phd of Economics and He has been a member of the board
He is a member of the Managing Board Business Organization from University of to various organizations including
since 2016; in charge of the Africa-Eastern Granada, MBA in Corporate Finance from Government Employees Provident Fund
Mediterranean Basin Group area and University of Dallas. (GEPF), National Board of Accountants
Purchasing. He has a vast experience in cement and Auditors (NBAA), Tanzania Association
industry and related companies in Europe of Accountants (TAA), Investment Trust
before joining HeidelbergMaterials Group Board (ITB) and Evangelical Lutheran
in 2013 as the Managing Director of Church of Tanzania, Eastern and Coastal
CIMBENIN. Diocese (ELCT-ECD).

Mr. Francesco Brambilla Mrs. Ruth Henry Zaipuna Mr. Dominik Michel
Director Director Director
Initial Appointment: 25 Apr 2018 Initial Appointment: 25 May 2016 Initial Appointment: 24 Nov 2021
Nationality: Italian Nationality: Tanzanian Nationality: German
Age: 51 Age: 49 Age: 46
Mr. Francesco Brambilla was appointed Mrs. Ruth Zaipuna, Tanzanian national, is Mr. Dominik Michel, a German national
as TPCPLC board member in April the CEO at NMB Bank PLC, responsible for was appointed as TPCPLC board member
2018. He studied Civil Engineering at driving the Bank’s corporate strategy to of TPCPLC Board in November 2021. Mr.
Pavia university (IT) and holds an MBA deliver sustainable business growth. Dominik has served as a member of the
from Essec Business School (FRA) and Prior to joining NMB Bank PLC, She had TPC PLC Audit Committee since 2015.
Mannheim Business School (GER). worked with Standard Chartered Bank He has served on various Boards and
He joined Heidelberg Cement in 2016 Tanzania and PricewaterhouseCoopers Audit committees in different cement
as Market Intelligence and Sales (PwC). plants within the group having gained
Processes Director for Africa and Eastern She holds a Master of Business finance and management experience
MediterraneanBasin Group area. Administration (MBA) in Finance and a of more than 15years in senior positions
With a vast experience in the cement Bachelor of Commerce (B.Com) degree in including Finance Director/CFO in Sierra
business, prior to his current role he has Accounting, both from the University of Leone, Ghana, and Egypt, respectively.
covered several managerial positions both Dar es Salaam and she holds an Associate He is currently the Area Director, Financial
in operations and in strategy & business Certified Public Accountant (ACPA (T)) Planning & Analysis for the Groups Area
development, in Europe and in Africa. certification. Africa and the Eastern in Mediterranean
(AEM) Basin in HeidelbergMaterials.`
All current Directors are non-executive except for the Managing Director.
Directors “Mrs. Ruth Henry Zaipuna” and “Mr. Oswald Martin Urassa” were re-
appointed on 22nd May 2022.
The Company Secretary during the year ended 31 December 2022 was Mr. Brian
Kangetta (Kenyan), 45 years old.

Corporate Governance Continued
Board of Directors Continued
The Directors’ Interest in the Shares of the Company Audit Committee Meetings
Number of shares The table presented below displays audit committee members’
attendance records for the ordinary scheduled meetings during
2022 2021
the year.
Mr. Oswald Martin Urassa 500 500
12-Apr- 12-Jul- 30-Nov-
Name
2022 2022 2022
Board Meetings
The table presented below displays the board members’ ü
attendance record for the ordinary scheduled board meetings ü ü Proxy to
Mr Dominik Michel
during the year. Francesco
Brambila
12 Apr 12 Jul 30 Nov Mrs. Ruth Henry Zaipuna ü ü x
Name
2022 2022 2022
Mr. Oswald Martin Urassa ü ü ü
Mr. Hakan Gurdal √ √ √
Mr. Dominik Michel √ √ √
√ à Attended Xà Excused
Mr. Alfonso Velez √ √ √
Mr. Oswald Martin Urassa √ √ √
Performance evaluation and reward
Mrs. Ruth Henry Zaipuna √ √ x
Mr Francesco Brambilla √ √ √
The Company has implemented an evaluation and bonus
√ à Attended X à Excused system for its managers and employees. Rewards in the form
of yearly bonuses are linked to the Company’s overall financial
The Audit Committee performance, production, and health and safety, as well as
individually set performance targets.
The Board is assisted in the discharge of its responsibilities
related to financial reporting, compliance, risk management, Risk management and internal control
accounting, and information systems management by the Audit
Committee. The Audit Committee is chaired by one of the Non- TPCPLC faces several risks due to its business operations,
Executive Directors. Meetings are held throughout the year and and effective risk management is crucial for sound corporate
are attended by senior management and the Company’s auditors governance. The company’s robust risk management framework
where necessary. The Audit Committee met 3 times in 2022 (2021: facilitates early identification and methodical evaluation of
3 times). potential risks, ensuring targeted risk management. Additionally,
TPCPLC has an internal control system that includes both
Audit Committee Members independent and integrated control measures through its internal
The Audit Committee members who served during the year, and audit function.
to the date of this report, are:
Name Nationality Qualification The Internal Auditor is responsible for establishing and
implementing a yearly internal audit plan whereby compliance
Mr. Dominik Michel German Bachelor BA
with policies and procedures, the adequacy of internal controls
B.com, MBA,
Mr. Oswald Martin Urassa * Tanzanian and risk management, and the potential for improvements are
CPA(T)
assessed. In addition, the Company benefits from regular reviews
B.com, MBA,
Mrs. Ruth Henry Zaipuna Tanzanian by the internal audit team of the main shareholder.
CPA(T)
* Mr. Oswald Martin Urassa was appointed to the audit

committee on 3rd December 2021.
The chairman of the audit committee is Mr. Oswald Martin
Urassa.

Key Management Personnel Of The

Business ethics and organizational integrity Company
The key management personnel who served the Company during
The issues of good governance and ethical conduct are critical the year ended 31 December 2022 were:
to counterparty and investor perceptions of a listed Company.
The Company strives to ensure that it’s integrity and professional Name Position
conduct are always beyond reproach. The Company has Mr. Alfonso Velez Managing Director
developed ethical guidelines for its employees in order to limit the Mr. Peter James Finance Director
cost of unethical behaviour to its stakeholders. The Company has Mrs. Evaline Mushi Director of Human Resources
adopted the main shareholder’s business code of conduct and
Mr. Yves Mataigne Commercial Director
anti-corruption guidelines. Hence every employee has signed a
Mr. Gilles Covello Technical Director
declaration to comply with these rules.
Mr. Ahmed Elsawy Plant Manager
Management reporting, financial reporting, and Mr. Jerome Mwakabaga Health & Safety Manager
auditing Mr. Ian Dobson* Procurement Director
Mr. Ali Ahmed* Procurement Director

The Company has established management reporting procedures
which include the preparation of annual strategic plans and *Mr. Ian Dobson reallocated to other responsibilities within the
budgets. Actual results are reported monthly against approved Heidelberg Materials Group. Mr. Ali Ahmed was promoted to
budgets and forecasts and compared to the prior year. Financial become Procurement Director during the same period.
reporting is done according to International Financial Reporting
Standards (IFRS) and published twice yearly in accordance with The Company has an independent internal audit function
the requirements of the Dar es Salaam Stock Exchange. The reporting directly to the Board audit committee. The Internal
accounts for each financial year are audited by the Company’s Audit and Quality Assurance Manager is Gregory Ndimbo.
external auditors.
Directors’ Remuneration
The Company paid a total of TZS 109.3 million (2021: TZS 115.3
million) for services rendered by the Directors of the Company
and members of the Audit Committee.
The remuneration for services rendered by the directors was as

follows:
Figures in TZS’000 2022 2021
Chairperson of the Board 10,393 12,188
Other directors 98,345 103,692

Our Key Management Team
“Our leadership team that served during the year

ended 31 December 2022 and drove the Company
towards new record heights in both business growth
and towards sustainability”
Mr. Ahmed Elsawy Mr. Ali Ahmed Mrs. Evaline Mushi Gregory Ndimbo Mr. Yves Mataigne
Plant Manager Procurement Director Director of Human Internal Audit and Quality Commercial Director
Resources Assurance Manager

Mr. Alfonso Velez Mr. Gilles Covello Mr. Jerome Mwakabaga Mr. Peter James
Managing Director Technical Director Health & Safety Manager Finance Director

Risk Management
This will ensure that:

• The Company’s assets are safeguarded,
• Compliance with the applicable laws and regulations,
• Reliability of the accounting records,
“Operating within a dynamic
• Business sustainability, and
environment, TPCPLC is
• Responsible behaviour towards all stakeholders.
subject to a range of external,
operational, and financial risks.
Identification and Assessment of Risks
To manage these risks, the
company has implemented a
Management and the internal control department regularly
comprehensive framework for
engage in the process of identifying risks, using various
Risk Management and Internal
sources of information such as general macroeconomic data,
Control”
industry-specific risk information, and identification tools
Operating within a dynamic environment, TPCPLC is subject to and techniques. Additionally, they refer to an internal risk
a range of external, operational, and financial risks. To manage catalogue that documents financial and non-financial risk
these risks, the company has implemented a comprehensive categories.
framework for Risk Management and Internal Control, which is
supported by appropriate governance and tools. By adopting this For each defined risk category, the likelihood is assessed
process, the company can identify, assess, mitigate, and monitor with a minimum threshold of 10% and considering the
its overall risk exposure, while integrating forward-looking risk expected impact, taking into account any risk mitigation
analysis into all strategic decision-making. This approach helps measures already in place. A 12-month operational planning
to minimize the probability and impact of any potential adverse cycle is utilized to estimate the likelihood, and the effects
events. on key parameters such as results from current operations
(RCO), profit for the financial year, and cash flow are used
The Board has the final responsibility for the risk management as benchmarks to assess the potential impact. The risks are
and internal control systems of the Company. The Board has considered net of any mitigation measures.
tasked the company management to ensure adequate internal The underlying scaling for the short-term risks incorporated
financial and operational control systems are developed, into the planning cycle is as follows.
maintained, and functional on an ongoing basis in order to
provide reasonable assurance of the effectiveness and efficiency Likelihood
of operations.
Unlikely 0% to 20%
Seldom >20% to 40%
Possible >40% to 60%
Likely >60% to 100%

Risk Areas monitoring this risk and taking appropriate decisions so that its
impact is minimised. More details on foreign currency risk are
We categorize risks that could have a significant impact on our included in Note 42 to the financial statements.
assets, finances, and earnings into five categories: financial risks,
strategic risks, operational risks, legal and compliance risks, and Liquidity Risk
climate risks. These categories are based on our internal risk Liquidity risk exists when a company is not able to procure or
catalogue and establishment from our main shareholder. We will generate funds necessary to fulfil operational obligations or
focus our risk assessment only on those risks that are deemed obligations entered in connection with financial instruments.
significant for our organization. For this case, the treasury department keeps close control
and planning of cash flows depending on monthly plans and
Below is the change in risks in comparison to the previous year. uncertainties that might come up or are expected to arise as
well as ensuring diversification of funding sources, this includes
Financial risks proper management of credit risk, ensuring adequate control on

the creditworthiness of our customers and optimum coverage of
Strategic risks
credit risk through bank guarantees, accredited letters of credit
Economic risks and others.
Political and social risks

Strategic Risks
Natural disasters/pandemics
The global and country economic and social environment is
Raw material shortages
constantly changing due to worldwide trends, such as climate
Digitalisation change, demographic development, pandemics, digitalisation,

and new technologies. These trends present both risks and
Skills shortages
opportunities. A company’s ability to adapt to changes
Operational risks determines the impact of these trends on it. Risks arising from the
changing trends may affect demand, price levels, and costs, and
Legal and compliance risks
therefore the company’s earnings. In the following, we describe
Climate risks and assess these risks and indicate measures taken to mitigate
their impact.
Market and reputational risks
Economic risks
Increased Stable
The economic outlook is currently influenced by considerable
risks. Following global economic growth of 6.2% in 2021, the IMF’s
Financial risks January 2023 forecast anticipates a significant decline in growth
to 3.4% for 2022 and 2.9% for 2023. Despite the world economic
Our significant financial risk is currency risk and liquidity risk, as decline, Tanzania’s GDP annual growth rate for 2022 is at 5.2% in
well as tax risks. We manage these risks primarily as part of our comparison to 4.9% in 2021. Fuel prices in the country remain at a
ongoing business and financing activities and, when required, surge due to the Russia-Ukraine war.
by using derivative financial instruments. These risk areas are In case of a recession and a decrease in construction activity,
monitored on a continuous basis by the Company treasury the company may face a decline in demand and price pressure.
department in coordination with the treasury department of our We believe that the risk situation has tightened compared to last
main shareholder. year. However, TPCPLC can partially mitigate this risk thanks to
its diversified market portfolio and diversified sources of raw
Currency Risk materials and spare parts which reduces dependence.
The most significant risk position with respect to financial
risks is the currency risk, particularly the translation risk. The
Company’s functional currency (TZS) is exposed to fluctuation
in the international currency market. This exposes the Company
to foreign currency exchange risks. Management is constantly

Risk Management Continued

Strategic Risks Continued The construction and building materials industry is also gradually
Political and social risks changing due to digitalization, which could aid in achieving
The instability in the economic, social, or political landscape, climate neutrality in building design and construction. This shift
such as shifts in government or heightened political tensions, could result in the construction of more energy-efficient and
civil unrest, and internal or international conflicts, can have long-lasting buildings with lower emissions, potentially reducing
significant effects on our assets, business, environment, and cement consumption. Digitalization could also increase efficiency
reputation. These impacts can be either direct, such as security and productivity, such as real-time data analysis from networked
repercussions, or indirect, such as economic unpredictability. systems, predictive maintenance, and better inventory and
Furthermore, they may increase our vulnerability to a wide range production process management.
of risks, such as compliance, tax, access to raw materials, and
Insufficient progress in digitalization may lead to a loss of
reduced cash flow.
efficiency and competitiveness. We consider digitalization as a
general risk with a potential impact on the company, gradually
In recent years, Tanzania has experienced impressive political
occurring over time. We assess the risk level to be unchanged
and economic progress and has made notable improvements in
from the previous year. TPCPLC proactively explores and invests
social welfare. Although the political situation has been relatively
in new technologies to capitalize on new digital developments as
stable over time, sudden changes in the political or social
early as possible.
landscape can directly affect the Company’s performance by
impeding market outreach or obstructing the sourcing of raw Skills shortage
materials or energy. As a result, TPCPLC conducts a systematic As our experienced employees age, there is a possibility of
assessment of these risks to ensure prompt mitigation in the a shortage of experienced and qualified workers, which may
event of their occurrence. lead to lower productivity and increased personnel expenses,
ultimately raising production costs. We expect the risk level
Natural disasters/pandemics (Unforeseen external to remain unchanged from the previous year. To mitigate this
incidents) risk, TPCPLC implements personnel development programs to
Our business performance could be adversely affected by attract and retain employees, such as cross-departmental or
unforeseeable external incidents, such as natural disasters or transnational career paths through our main shareholder.
pandemics. The potential regulatory demands associated with
Operational Risks
the emergence of new COVID-19 variants remain a risk to our
operations. Typically, natural disasters and pandemics occur Operational risks mainly comprise risks concerning the
suddenly. However, after careful evaluation, we have determined development of energy and raw material costs and their
that there is no significant risk of such incidents significantly availability. We also consider regulatory risks related to
impacting our operations. environmental constraints, as well as production, quality, and IT
risks. Operational risks have risen compared to the previous year.
Raw material shortages
The availability of raw materials has a significant impact on the Energy prices and availability
cost and overall operations of our company, and consequently, Energy is key in the operational activities of the Company and
it can significantly influence our financial results. We consider thus, reliable power and gas supply and prices represent a
raw material shortages to be an industry-specific risk that could considerable risk to the Company.
gradually affect our company. We believe that the risk outlook
has remained the same compared to last year. To mitigate this The Company depends heavily on the power supply from
risk, TPCPLC continuously monitors our raw material reserves, Tanzania Electric Supply Company Limited (TANESCO). Over the
and local availability, and secures alternative raw materials years, there have been significant improvements in power supply,
wherever feasible. though power cuts still pose a significant impact on operations.
Digitalisation
Natural gas is used in the clinker-burning process, to produce our
The business world is undergoing fundamental changes due to
clinker. The company heavily depends on natural gas and thus
the digital transformation. The rise of new digital and networked
any significant price changes or shortages have a detrimental
technologies, as well as increasing automation, may challenge
impact on the company’s operations and production.
existing business models and create opportunities for new ones.
We consider this risk to be of a medium to high risk with a high
likelihood and a significant impact.

Availability of raw materials and additives Quality risks

To produce cement, TPCPLC needs substantial quantities of raw Cement is subject to strict standardisation. If supplied products
materials, which are primarily obtained from its own deposits. do not meet the prescribed standards or the customer’s quality
The limestone quarry owned by TPCPLC marks the starting point requirements, we risk losing sales volumes, facing claims for
of the cement manufacturing process. Limestone is mixed with a damages, and/or damaging our customer relationships. TPCPLC
proportional amount of red soil to create the raw meal, which is ensures compliance with the standards from our main shareholder
finely blended and fed into kilns to produce clinker. The availability and third-party laboratories by means of fine-meshed quality
of limestone is critical for uninterrupted operations, and the assurance in parallel with every process step as well as final
Company ensures that it has sufficient limestone deposits to inspections. Quality assurance controls are also carried out by
meet its needs. independent experts as part of the extensive quality assurance
programmes already in place. Overall, we consider the quality
Production-related risks
risks as a low and unlikely risks with a low impact. The Company
The cement industry involves complex technology for processing
ensures compliance with the standards at its laboratory and
and storing raw materials, additives, and fuels, and is considered
standard certification by the Tanzania Bureau of Standards (TBS)
an asset-intensive industry. There is a risk of personal injury,
(ISO 9001 Certification).
material damage, and environmental damage due to accidents
IT risks
and operating risks, which may cause disruptions in operations.
Our business processes, communication, sales, logistics, and
TPCPLCs has a risk transfer strategy that sets deductibles for
production are supported by IT systems, which can pose two
insurance programs based on failure analyses spanning several
main areas of risk: the unavailability of IT systems due to failures
years.
or human error, and the threat of deliberate harmful actions by
both external and internal actors.
Although the risk of insufficient insured amounts in the event of
damage, particularly from rare and severe types of damage like To minimize IT systems availability-related risks:
natural disasters, is present, it is deemed to be low. To prevent We have implemented backup procedures and standardized IT
the possibility of damage and its consequences, we rely on infrastructures and processes. Our internal software development
various surveillance and security systems in our plant, integrated teams work with IT experts from our main shareholder to use
management systems that include high safety standards, as agile, iterative processes that prioritize identifying and managing
well as regular checks, maintenance, and servicing. We offer risks. For sensitive use cases that interact with our transactional
appropriate training to all employees to increase their awareness ERP solutions, we conduct small pilot tests with trusted partners
of potential dangers. Overall, production-related risks are deemed in a structured manner to quickly identify and address risks in the
to be low and unlikely, with a low impact. early stages of development.

Measures to minimise external and internal cyberattacks: from year to year. Therefore, we have evaluated this risk as low.
Due to the current geopolitical situation and the increasing
Market and reputational risks
prevalence of cyberattacks as a business model, the threat
of attack, especially from external sources, is significantly One of the primary market risks for TPCPLC is competition, which
heightened. Based on a zero-trust strategy, we are increasing the is increasing in the Tanzanian market, recently with the inclusion
security mechanisms in numerous areas. With support from the of imported cement in the market. However, TPCPLC is well-
cybersecurity team from our main shareholder, we secure user positioned to maintain its competitive edge by relying on its high-
identities, through lasting improvements to the security of our quality cement, strong brand, skilled workforce, and effective
identification mechanisms and have begun to analyse unusual management practices.
user behaviour using automated methods.
As the transition to a low-emission economy continues, there is
To minimize the threat of external and internal
a market risk associated with changes in consumer preferences.
cyberattacks:
This could result in an increased substitution of cement with other
Given the current geopolitical situation and the growing trend
building materials that are perceived to have a lower carbon
of cyberattacks as a business model, both internal and external
footprint. Additionally, there is a risk of rising costs for raw
cyberattacks pose a significant threat. To address this, we have
materials, which may be partly driven by the transition to a low-
implemented a zero-trust strategy and are increasing security
emission economy.
mechanisms in multiple areas. Our cybersecurity team, with the
support of our main shareholder, is taking measures to enhance
To ensure future production, we are taking steps to secure
the security of our identification mechanisms, thereby securing
sufficient quantities of alternative fuels and raw materials. In
user identities. Additionally, we have started using automated
addition, we recognize that failure to meet our sustainability
methods to analyse unusual user behaviour.
targets in a timely manner may result in negative feedback from
In general, the threat level has increased, leading us to consider certain stakeholders, which could pose a reputational risk to the
the risk of system or application outages as a medium risk company. Effective communication can help mitigate these risks.
(compared to the previous year’s low risk) with a moderate Overall, we consider market and reputational risks to be a general
impact (similar to the previous year’s moderate impact) and an risks that could have a gradual impact on TPCPLC. We believe
unlikely likelihood (but still possible). that the risk outlook is stable compared to the previous year.
Legal and compliance risks

Overall risk assessment
Our important legal and compliance risks include risks from
ongoing proceedings and investigations, as well as risks The Board of Directors has evaluated TPCPLC’s overall risk
arising from changes in the regulatory environment and the situation by consolidating all major and individual risks. Based
non-observance of compliance requirements. We are closely on this examination, the Board is confident that there are no
monitoring ongoing legal proceedings from a legal standpoint, significant risks that would pose a threat to the company’s status
and we have made appropriate financial provisions as per the as a going concern, either independently or in combination with
legislative requirements to cover any potential negative impact other risks. There have been no significant changes to TPCPLC’s
from these proceedings. risk situation between the reporting date and the preparation
of the 2022 financial statements. The company has a robust
Based on our compliance risk assessments, we have determined
financial foundation, and its liquidity position is strong.
that TPCPLC faces a moderate compliance risk. However, the
financial risk associated with compliance violations is considered
low, based on the compliance cases reported and confirmed
during the reporting period.
Climate Risks
The demand for cement is influenced by climate conditions, and
extreme weather patterns could potentially affect the sourcing
and sale of raw materials. However, in Tanzania, the climate is
relatively stable, and there are no expected significant changes

Key Strengths, Strategies, And

Strong Distribution Network
Resources
With a well-defined, diversified distribution network and the
In pursuit of our objectives, the key strengths, and resources
fleet of trucks owned by the distributors of the Company, our
(both intangible and tangible) available to the Company are:
products can reach remote parts of the country. The Company
Competent Management and Personnel also exports its products to various countries in the Central and
East African Sub-Region.
The most important singular resource of the Company is its
human capital. The Company’s operations are managed by
competent and qualified management teams who drive the Market Position
day-to-day activities to achieve the Company’s objectives. The
Twiga Cement is the preferred brand in the market and thus
management team is supported by committed and highly skilled
places TPCPLC as the market leader. TPCPLC’s market leadership
employees who are well experienced in cement technology
is reinforced by its proximity to the main Dar es Salaam market.
and industry. The Company employs qualified and competent
Technical Support
personnel and also invests in their training.
HeidelbergMaterials, which is the ultimate Holding Company, is
Strong Brand and Quality Products
the global market leader in aggregates and a prominent player
Twiga Cement is a well-known cement brand in the market in the fields of cement, concrete, and other related downstream
and is synonymous with high quality. The brand and quality of activities, making it one of the world’s largest manufacturers of
TPCPLC products give the Company a competitive advantage building materials. TPCPLC benefits from worldwide technical
in the market. To meet the quality demand of the market, the support in the cement business.
Company produces four cement products i.e., Twiga Ordinary
High-Quality Limestone Reserves
(CEM I 42.5N), Twiga Plus (CEM IIB-L 42.5N), Twiga Extra
(CEM IIB-L 32.5R) and Twiga Jenga (MC-22X) and Twiga Super Limestone is the main material in cement production; the
(CEM IIB-L 32.5N). The quality of finished goods produced is Company has adequate reserves for the cement production
maintained through consistent quality testing of all the raw capacity.
materials at every stage of production and the finished goods
produced.

Stakeholders Relationship Political Donations

Employees – the company put in place programs and initiatives The Company did not make donations to any political parties or
that focus on the improvement of the employee’s welfare, keeping political causes during the year.
priorities on the health and safety and training of employees.
Corporate Social Investment
Furthermore, the company works closely with the employee’s
union (TUICO) in ensuring that all issues relating to employees are During the year under review, the Company made donations
addressed. The company has maintained a good relationship with and other contributions of a charitable nature valued at about
TUICO. TZS 13.1 million (2021: TZS 161.8 million).
Customers – the Company is customer-oriented and is fully

Besides the donations, the Company has also been involved in
committed to providing value-added services, experience, and
Corporate Social Responsibility, targeting women, health care,
quality products to customers. Our team is determined to keep a
education, and children. The total contributions were TZS 633
competitive edge in our operations as well as in the market.
million (2021: TZS 91.4 million).
Suppliers – provide raw materials, services, spare parts, etc., that
Dividends
are key to the operation of the plant. The company provides an
opportunity to all through the tendering process, supplier forums, The Directors recommend payment of TZS 70.17 billion (TZS
site visits, and favorable terms to ensure the sustainability of 390 per share) to shareholders as the final dividend for the
operations. year 2022. The final dividend will be approved in the annual
general meeting and paid in June 2023. During the year the
Local communities – the company is engaged in several
Company paid TZS 70.17 billion (TZS 390 per share) as the final
initiatives that ensure that matters pertaining to the communities
dividend for the financial year 2021. There was no payment of
are addressed. The company ensures that it budgets for
interim dividend relating to the year ended 31 December 2022.
community initiatives in the areas of education, health care,
In making this proposal, the Directors have taken into account
women, and children.
the financial situation of the Company and its future needs for
Government and Regulators – these are responsible for implementing replacement and improvement projects.
the provision of policies, permits, and licenses. The company
Subsequent Events
continues to work closely with the government and regulators
through industry bodies, and public forums. The company has There are no other events after the reporting period which
in place programs to ensure that its operations comply with the require adjustment to, or disclosure, in the financial statements.
various laws and regulations including environment, health, and
safety. Furthermore, the company ensures that its operations
promote economic and industrial development in the country.

Related Party Transactions

The ultimate Parent Company of TPCPLC is HeidelbergMaterials,
2022 2021
listed on the Frankfurt Stock Exchange in the Federal Republic of
Name % %
Germany. HeidelbergMaterials owns indirectly 100% of Scancem
Shareholding Shareholding
International DA of Norway, which in turn owns 69.25% of the
TPCPLC shares. Scancem International DA 69.25 69.25
During the year, the Company transacted with related parties, this General Public 22.78 22.78
mainly includes the importation of raw materials from HC Trading Government Pension funds 7.75 7.75
Asia and Pacific PTE Limited and the export of coal to HC Trading Wazo Hill Saving and Credit
0.22 0.22
GMBH. Details of related party transactions are shown in Note 38 Cooperative Society
of the financial statements. 100.00 100.00
Share Capital
Accounting Policies
The total issued share capital of the Company amounts to
179,923,100 ordinary shares (2021: 179,923,100 ordinary shares). The financial statements are prepared on the underlying
There is no change in the issued share capital. The capital assumptions of a going concern. The accounting policies which
structure of the Company is outlined in Note 27. are laid out in Note 3 to the financial statements are subject to
The shareholding of the Company is as stated below: annual review to ensure continuing compliance with International
Financial Reporting Standards.
Shareholders Of The Company
The total number of shareholders as at 31 December 2022 was 9,310 shareholders (2021: 9,354 shareholders), with 179,923,100 ordinary
shares (2021: 179,923,100 ordinary shares). The following were the ten largest shareholders of the Company:
2022 % of 2021 % of
Name Nationality
Shareholding Shareholding
Scancem International DA Norwegian 69.25 69.25
Public Service Social Security Fund Tanzanian 6.16 6.16
Standard Chartered Bank Uganda Ugandan 5.28 5.28

National Social Security Fund Tanzanian 1.24 1.24
Umoja Unit Trust Scheme Tanzanian 0.99 0.92
African Lions Fund LTD Tanzanian 0.93 0.59

Murtaza Basheer Nasser Tanzanian 0.90 0.90
Said Salim Awadh Bakhresa Tanzanian 0.77 0.51
Sayed H. Kadri/Basharat Kadro/Mehboob

Tanzanian 0.52 0.59
Kadri/Khalid/Muzammil Kadri
Zanzibar Social Security Fund Tanzanian 0.35 0.35
Stock Exchange Information
On 29 September 2006, the Company went public, and its shares started to trade at the Dar es Salaam Stock Exchange. During the
year 2022, shares of the Company were continuously traded in the secondary market through auctions organised by the Dar es Salaam
Stock Exchange (DSE). In the year 2022, the performance of the Company’s shares in the secondary market was as follows: Market
capitalisation as at 31 December 2022 was TZS 683.7 billion (2021: TZS 611.7 billion). The share price prevailing as at 31 December 2022
was TZS 3,800 per share, compared to TZS 3,400 one year earlier (the IPO price was TZS 435 per share).

Serious Prejudicial Matters Statement Of Compliance

During the year, there were no serious judicial matters to report The Report by those charged with governance has been prepared
as required by the Tanzania Financial Reporting Standard No. 1 in compliance with the Tanzania Financial Reporting Standard No.
(Report by those charged with Governance). 1 “TFRS 1” (The Report by those charged with governance).
Auditors
Details
The information of the Company’s auditors for the period covered by the report is:
PricewaterhouseCoopers
Pemba House
369 Toure Drive
Oyster Bay
P.O. Box 45
Dar es Salaam, Tanzania
Website: https://www.pwc.co.tz/
Firms’ PF Number: PF 047
TIN: 100212285
The engagement partner who was in charge of the audit of the Company during the period has registration number:
ACPA-PP 1981
Appointment for 2023
PricewaterhouseCoopers (PwC) was appointed to be the Company’s auditor for the year 2022. PwC has also expressed willingness to
continue with the appointment and is eligible to apply for a re-appointment. A resolution proposing the appointment of the auditor for
the next financial year will be put in the Annual General Meeting.
Responsibility Of The Auditor

The Auditor is responsible for providing assurance of the correctness and consistency of all information contained in the report by those
charged with governance with those provided in the financial statements.
Responsibility By Those Charged With Governance

The members charged with governance accept responsibility for preparing these financial statements which show a true and fair
view of the Company to the date of approval of the audited financial statements, in accordance with the applicable standards, rules,
regulations, and legal provisions. The members also confirm compliance with the provisions of the requirements of TFRS 1 and all other
statutory legislation relevant to the Company.
By order of the Board of those charged with Governance
Approved by the Board of Directors on ____ April 2023 and signed on its behalf by:
Name: ALFONSO VELEZ Title: DIRECTOR Signature:
Name: RUTH ZAIPUNA Title: DIRECTOR Signature:


Ripoti ya Wale Wanaohusika na Uongozi
Wakurugenzi wanawasilisha ripoti yao pamoja na taarifa za kifedha zilizokaguliwa kwa mwaka wa fedha ulioishia tarehe 31 Desemba
2022, ambazo zinafafanua haliya Kampuni ya Tanzania Portland Cement Public Limited Company (“Kampuni” au “TPCPLC”).
Usajili Dira Yetu Malengo Yetu

Kampuni imesajiliwa Tanzania Kujenga chapa imara, kuwa Kuwaridhisha wateja kwa
chini ya Sheria za Makampuni kinara katika soko na kuwa kuwapa bidhaa na huduma
ya mwaka 2002 kama Kampuni chaguo la kwanza kwa zenye ubora wa kiwango cha
ya inayomilikiwa kwa hisa. watumiaji wa saruji Tanzania. juu kwa gharama nafuu.
Operesheni za Kampuni
Shughuli Kuu kuongezeka kwa bei za vyakula ulimwenguni na matatizo

Shughuli kuu ya Kampuni wakati wa mwaka ilikuwa katika masuala ya ugavi. Pia, mfumuko wa bei nchini Tanzania
uzalishaji wa saruji katika kiwanda chake kilichopo Tegeta - kwa mwaka 2022 ulipanda kufikia asilimia 4.3 ikilinganishwa na
Wazo Hill, Dar Es Salaam, Tanzania na uuzaji wa saruji ndani na asilimia 3.7 mwaka uliopita.
nje ya Tanzania.
Licha ya ukuaji imara uliosukumwa na shughuli za ujenzi
Mazingira ya Kiuchumi na Soko zilizoongezeka na msisitizo wa serikali katika maendeleo ya
Katika kipindi cha mwaka 2022, uchumi wa dunia ulipungua miundombinu, soko la saruji nchini Tanzania linabaki kuwa na
kwa kiasi kikubwa ikilinganishwa na mwaka uliopita. Mataifa ushindani mkali. Gharama kubwa za uzalishaji, ambazo kwa
mengi yalishuhudia ongezeko kubwa la bei za nishati na sehemu zinatokana na gharama kubwa za nishati na malighafi,
mafuta kutokana na mvutano wa kijiografia na kisiasa kama zinaweka changamoto kubwa katika kudumisha ushindani
vile mzozo kati ya Urusi na Ukraine, ambao pia ulisababisha katika masoko ya ndani na ya nje.
Mfumo wa Biashara
Kama mzalishaji mkubwa wa saruji nchini, TPCPLC ina rekodi Bidhaa

imara ya mauzo. Bidhaa zetu zinakidhi mahitaji yanayoongezeka Saruji ni bidhaa yetu kuu. Tunagawanya saruji yetu ya ubora
ya makazi, usafirishaji, na maendeleo ya kiuchumi nchini wa juu kulingana na nguvu yake toka mwanzo wa uzalishaji,
Tanzania na Afrika Mashariki kwa kusaidia ujenzi wa majengo pamoja na muundo wake. Wateja wetu wa saruji ya kiwango
ya makazi, biashara, na viwanda. Pia, tuna dhamira ya kufikia cha juu wanatoka katika miradi ya ujenzi ya kawaida, miradi
uwiano wa kaboni katika utengenezaji wa saruji na tunafanya ya miundombinu ya serikali, wazalishaji wa zege, na rejareja
kazi kuelekea teknolojia intelijensia na endelevu ya saruji huku kwa njia ya mtandao wetu wa usambazaji. Bidhaa zetu za saruji
tukitoa pia suluhisho za kidijitali kwa wateja wetu. zinapatikana katika mifuko midogo, mifuko mikubwa, na kwa
wingi.
Muundo wetu wa biashara unajumuisha muunganiko wa thamani Kwa maneno rahisi, rejea hapo chini orodha ya bidhaa zetu za
kutoka kwenye uchimbaji wa malighafi hadi utengenezaji viwango vya juu;
wa saruji na usambazaji kwa wateja wetu. Operesheni zetu
zinasaidiwa na Vituo vya Ujuzi wa teknolojia, kutoka kwa Twiga Ordinary (CEM I 42.5N)
HeidelbergMaterials. Tunafanya utafiti wa kijiolojia wa akiba ya Hasa hutumika kwa ajili ya kufanya
malighafi, tathmini athari za mazingira, uchimbaji wa malighafi, zege ya ubora wa juu na ujenzi wa jumla
urekebishaji wa maeneo yaliyochimbwa, na uzalishaji wa saruji wa majengo makubwa, mabwawa, na
kama sehemu ya michakato yetu ya uendeshaji. madaraja.

yetu ya uzalishaji ili kuongeza ufanisi wa nishati wakati

Twiga Plus+ (CEM II B-L 42.5N) pia tukisaidia uzalishaji mzunguko na uchumi imara wa
Hasa hutumika kwa ujenzi wa matofali, mzunguko imara ili kupunguza matumizi ya malighafi
majengo makubwa na ya kati, asilia. Katika ngazi ya bidhaa, tunaweka kipaumbele katika
mabwawa na madaraja, n.k. uzalishaji wa saruji yenye kiwango cha chini cha kaboni,
matumizi ya vifaa vilivyosindikwa tena, na kuwekeza katika
teknolojia mpya ili kusaidia lengo letu la kufikia uwiano wa
Twiga Extra (CEM II B-L kaboni (carbon neutrality).
32.5 R)
Hasa hutumika kwa ujenzi wa Ushawishi kutoka Nje
nyumba na utengenezaji wa Mbali na hali ya hewa na ukuaji wa kiuchumi na idadi ya
matofali, n.k. watu, uendeshaji na maendeleo ya kiuchumi ya TPCPLC
yanategemea kwa kiasi kikubwa mabadiliko katika bei
za nishati na malighafi katika masoko ya ndani na ya
Twiga Super (CEM II B-L 32.5N) kimataifa, mabadiliko katika mazingira ya udhibiti, na
Hasa hutumika kuboresha nguvu ushindani katika masoko yetu ya saruji.
ya kushikamana kwa udongo, hasa
katika ujenzi wa barabara, n.k. Udijitali
Udijitali - ikiwa ni pamoja na bidhaa na matumizi ya
kidijitali ina umuhimu sana katika mlolongo mzima wa
Twiga Jenga (MC 22.5 X) thamani wa Kampuni yetu, kutoka uchimbaji wa malighafi,
Hasa hutumika kwa ubandikaji uzalishaji, na usafirishaji kwa wateja wetu. TPCPLC
wa vigae, marekebisho madogo imejiwekea lengo la kuwa kampuni inayoongoza katika
ya nyumba, utengenezaji wa teknolojia katika sekta ya saruji. Lengo letu ni kutumia
matofali, n.k. suluhisho za kidijitali kuchangia katika ukuaji wa Kampuni
na kuongeza ufanisi katika uzalishaji na utawala. Mkakati
wetu wa kuuza saruji kidijitali ni kufikia 75% ya kiasi cha
mauzo yetu kupitia interface za kidijitali kwa wateja
Umuhimu wa kujumuisha uendelevu katika (customer portal app) mwaka 2023.
muundo wa biashara
Tunalenga kufanya maboresho makubwa katika kupunguza Portifolio a ya Kampuni
athari za mazingira za shughuli zetu za biashara na Portfolio yetu ya wateja inajumuisha masoko yaliyostawi
kupunguza uzalishaji wa kaboni. Kama mzalishaji wa na masoko yanayokua, na tunachukulia kuwa ni uimara wa
saruji anayeongoza nchini, tunatambua jukumu letu katika masoko yetu. Lengo letu ni kupangilia portfolio ya wateja
kuongoza njia katika kuendesha uzalishaji endelevu katika wetu kwa njia ya usimamizi thabiti na kuweka kipaumbele
viwanda vya saruji nchini. Lengo letu ni kuchangia sana kwenye masoko imara kwa kutumia vigezo vya kifedha na
katika uzalishaji endelevu wa saruji na kufikia uwiano visivyo vya kifedha kuyatambua masoko hayo.
wa kaboni kwa kuzingatia pia uwajibikaji wa kijamii na
mazingira. Tunapanga kuongeza uwepo wetu katika masoko yenye
ushawishi wa kukua, wakati pia tukiongeza uunganishaji
Kufikia lengo letu, ulinzi wa mazingira ni kipengele muhimu wima kwenye mlolongo wa thamani katika masoko ambapo
katika mkakati wetu wa biashara. Tunaelewa kwamba tunaweza kufikia ukuaji kubwa na kuimarisha nafasi
uzalishaji wa saruji unazalisha hewa chafu ya kaboni (CO2) yetu sokoni. Zaidi ya hayo, tutaendelea kuwekeza katika
kutokana na michakato ya kikemikali inayohitajika kwa uzalisahji endelevu na dijitali, tunayaona maeneo haya kua
kuchoma klinka, ndio maana tunazidi kuongeza matumizi na mabadiliko chanya na hivyo tutapanua portfolio yetu
yetu ya malighafi na nishati mbadala ili kupunguza katika maeneo haya.
uzalishaji wa kaboni (CO2).
Pia tunafanya kazi katika kuongeza ufanisi wa michakato

Mfumo wa Biashara Inaendelea
Utengenezaji wa thamani kwa wanahisa Wetu cha mmiliki mkuu wanajadili maendeleo ya biashara, pamoja
Ili kufikia thamani endelevu na kupima mafanikio ya biashara na kufikia malengo, matarajio ya mwaka wa fedha, na hatua
yetu, tumeweka viashiria muhimu vya utendaji vinavyohusika kwa zinazohitajika kulingana na utabiri wa robo ya mwaka ya TPCPLC.
uongozi. Hivi ni pamoja na matokeo ya uendeshaji wa sasa (RCO),
marejesho ya mtaji uliowekezwa (ROIC), na uzalishwaji wa CO2. Thamani Tuliyojenga
Pia, tunatumia viashiria vya ukuaji mapato, faida ya uendeshaji
Faida ya uendeshaji
wa sasa kabla ya uchakavu (RCOBD) na uwiano wa mikopo kama
taarifa za ziada.
TZS 135.9bn 2021: TZS 125.6bn
Ili kutathmini na kufikia malengo yetu ya kimkakati, tumeweka

Faida baada ya kodi
mfumo wa usimamizi unaolenga thamani. Mfumo huu
unajumuisha kupanga uendeshaji wa kila mwaka, usimamizi na
udhibiti kwa kipindi chote cha mwaka, mikutano ya usimamizi kila
TZS 97.4bn 2021: TZS 88.5bn
mwezi, na mikutano ya mara kwa mara ya idara.

Mzunguko wa fedha za uendeshaji
Tumeweka mfumo kamili wa ripoti za za mfuma maalumu ili

kusimamia na kudhibiti uendeshaji wa kampuni kwa kipindi chote
TZS 79.2bn 2021: TZS 113.3bn
cha mwaka. Ripoti hizi zinajumuisha mali za TPCPLC, hali ya

Manufaa kwa Wadau
fedha, na nafasi ya faida, na viashiria vilivyotumika ni sawa katika
Kwa wanahisa wetu: Mapato na ukuaji
kampuni nzima. Ripoti za kila wiki za mzunguko wa fedha na ripoti
za kila mwezi zinajumuisha faida ya uendeshaji, uzalishaji, na Kwa Wateja Wetu: Bidhaa bora
ukarabati zinaandaliwa.
Kwa Serekali: Kodi na bidhaa bora kwa ajili ya
maendeleo ya miundombinu
Ripoti za kifedha za kina zinapatikana mwishoni mwa kila mwezi
na kila robo ya mwaka. Wakati wa mikutano ya uongozi ya Kwa Jamii: Maendeleo ya kitaaluma ya watu
robo ya mwaka, uongozi wa TPCPLC na mameneja wa kikundi na mazingira bora
Utafiti na Maendeleo
Juhudi za utafiti na maendeleo (R&D) za TPCPLC zinalenga kuunda bidhaa za ubunifu, kugundua fomula mpya za bidhaa, na
kuboresha michakato ya uzalishaji ili kupunguza matumizi ya nishati, kuhifadhi rasilimali, kuimarisha uchumi wa mzunguko, kupunguza
uzalishaji wa CO2 na gharama, na kuwaridhisha wateja wetu zaidi.
Muelekeo Wetu katika Utafiti na Maendeleo
Maendeleo ya suluhisho za Kupunguza athari ya kaboni Maendeleo ya teknolojia

automesheni za kisasa kupitia maendeleo ya saruji ya kupunguza CO2
Kwa kutumia teknolojia ya akili bandia, Tunaendelea na kazi ya kuunda saruji Lengo letu ni kuongeza matumizi ya
tunalenga kupunguza matumizi ya ya kisasa yenye kiwango cha klinka nishati ya biomasi (mbadala) na kwa
nishati, kudumisha vifaa katika hali bora, kidogo. Hii ni hatua muhimu zaidi katika sasa tunachunguza vyanzo thabiti zaidi
na kuhakikisha ubora thabiti wa bidhaa. kupunguza CO2 wakati wa uzalishaji, kwa madhumuni haya.
huku pia ikisaidia kuhifadhi rasilimali
asilia.

Matokeo ya Uendeshaji
Mtazamo wa TPCPLC kwa nambari.
Kampuni ilirekodi ongezeko la mauzo
Hesabu TZS Millioni 2022 2021 Change%
kwa 4.7% ikilinganishwa na mwaka 2021.
Taarifa Ya Mapato na Matumizi Mapato yaliongezeka kutoka TZS 449.5

bilioni mwaka 2021 hadi TZS 494.7 bilioni
Mapato 494,716 449,509 +10.1%
mwaka 2022, ongezeko la 10.1%. Uboreshaji
Faida ya uendeshaji 135,939 125,582 +8.2%
jumla wa utendaji na ukuaji wa soko
Faida kwa mwaka wa fedha 97,359 88,482 +10.0%
vimechangia ongezeko hili la mapato.
Faida kwa kila hisa (TZS) 541 492 +10.0%
Gawio kwa kila hisa (TZS) 390 390 0.0% Kulinganisha na mwaka uliopita, Twiga
Plus imepitia ongezeko la mapato ya TZS
Mali isiyohamishika na Vifaa (PPE) 14,611 27,828 -47.5% 81.4 bilioni. Ingawa, mapato ya Twiga
Extra yamepungua kwa TZS 31.3 bilioni na
mapato ya Twiga Ordinary yamepungua
Uchakavu wa mali za kudumu 20,645 18,666 +10.6%
kwa TZS 7.9 bilioni, ikilinganishwa na
Hesabu ya mali mwaka uliopita.
Rasilimali za kudumu 149,032 148,636 +0.3%

Gharama za mauzo ziliongezeka kwa
Rasilimali za muda mfupi 269,860 230,678 +17.0%
12.1% ikilinganishwa na mwaka 2021, hasa
Mtaji 299,738 272,236 +10.1%
kwa sababu ya ongezeko la gharama
Dhima za kudumu 20,822 19,545 +6.5% za malighafi kutokana na ongezeko la
Dhima za muda mfupi 98,333 87,533 +12.3% uzalishaji, na gharama za usambazaji wa
saruji kwa wateja.
Jumla ya Rasilimali 418,893 379,314 +10.4%
Uwiano Kampuni ilipata faida ya uendeshaji ya TZS

135.9 bilioni ikilinganishwa na TZS 125.6
Kiwango Cha Mapato ya Uendeshaji (OI) 27.5% 27.9% -0.5%
bilioni mwaka 2021, ongezeko la 8.0%. Faida
Marejesho Rasilimali kabla ya kodi 33.6% 33.9% -0.3% kabla ya kodi iliongezeka kutoka TZS 128.0
bilioni mwaka 2021 hadi TZS 140.1 bilioni
Marejesho ya Mtaji 32.6% 32.1% +0.5%
mwaka 2022.
Marejesho ya Mapato 19.7% 19.4% +0.3%

Baada ya kodi ya faida ya TZS 42.7 bilioni
Takwimu zisizo za kifedha:
(2021: TZS 39.6 bilioni), faida ya mwaka
Idadi ya wafanyakazi mwishoni mwa ilikuwa TZS 97.4 bilioni (2021: TZS 88.5
257 260 -1.2%
mwaka
bilioni). Jumla ya faida kamili ilifikia TZS
Maelezo ya kina ya matokeo ya uendeshaji yanapatikana kutoka ukurasa wa 23. 97.7 bilioni (2021: TZS 87.4 bilioni). Bodi ya
Wakurugenzi itapendekeza kwa wanahisa
Mapato na Matokeo
mgawo wa gawio wa TZS 390 kwa kila hisa
Kumekuwa na uboreshaji wa jumla katika uzalishaji, na ongezeko la 4.8% katika
(2021: TZS 390 kwa kila hisa).
uzalishaji wa klinka na
4.7% katika uzalishaji
Uzalishaji wa klinka +4.8%
wa saruji ikilinganishwa
+4.7%
Uzalishaji wa Saruji na mwaka 2021. Hii
Mauzo ya Saruji +4.7% inaweza kuchangiwa
na uimarishaji wa jumla
katika utendaji wa
mashine pamoja na kukua kwa soko la saruji licha ya ushindani mkubwa.

Matokeo ya Uendeshaji Inaendelea
Nafasi ya kifedha uendeshaji wa biashara. Mkazo zaidi umewekwa katika miradi

Katika mazingira magumu ya soko na kuzingatia bei kubwa sana itakayosaidia kuongeza uwezo wa uzalishaji na kupunguza
za nishati na malighafi, muda mrefu wa manunuzi, na usumbufu uzalishaji wa CO2 kupitia matumizi ya nishati ya biomasi.
katika ugavi ikilinganishwa na mwaka uliopita, mtiririko wa fedha
kutokana na shughuli za uendeshaji katika mwaka wa fedha 2022 Miradi ya ukarabati Kinu cha Saruji No.2 na mradi wa Vumbi la
ulikuwa chini ya kiwango cha mwaka uliopita, TZS 80.8 bilioni Saruji-Kilinka (CKD), yote ilikamilika mwaka 2021, na inaendelea
(2021: TZS 112.1 bilioni). kuchangia katika kuboreshaji wa uwezo wa uzalishaji wa
Kampuni. Wakurugenzi wanaamini kwamba Kampuni iko katika
Mtiririko wa fedha kutokana na shughuli za uendeshaji nafasi nzuri ya kukidhi mahitaji yanayoongezeka sokoni.
ulipungua kutokana na ongezeko la madeni ya uendeshaji ya
TZS 14.6 bilioni na ongezeko la mali ghalani la TZS 34 bilioni Mradi wa Nishati Mbadala, ambao ulimalizika mwaka 2022,
ikilinganishwa na mwaka uliopita. Ongezeko hili linasababishwa unasaidia TPCPLC kuelekea katika lengo lake la kuwa kampuni
na kuongezeka kwa bei ya malighafi na usumbufu katika ugavi, yenye usawa katika kaboni kupitia kuimarisha matumizi ya
ambao ulilazimisha kuongezeka kwa kiwango cha mali ghalani ili nishati mbadala, hivyo kupunguza utengenezaji wa CO2 katika
kustahimili uendeshaji mzuri wa biashara. mazingira. Uongozi umejikita katika uzalishaji endelevu kupitia
kupunguza kwa kiasi kikubwa uzalishaji wa CO2 na pia kusaidia
Matarajio ya mapato maendeleo ya uchumi wa mzunguko.
Tunatarajia kuwepo kwa ukuaji wa wastani katika mapato ya
saruji mwaka 2023, ingawa kuna tabiri za ongezeko katika Usalama Wa Kifedha
gharama za malighafi, vifaa vya matumizi, na ugavi pamoja Wakurugenzi wamepitia hali ya kifedha ya sasa ya Kampuni na
na ongezeko wastani katika gharama zingine za uendeshaji, mikopo ya muda mfupi iliyopo. Kulingana na tathmini hii pamoja
tunatarajia matokeo ya uendeshaji kwa mwaka wa fedha 2023 na mpango wa biashara wa sasa, Wakurugenzi wameridhika
kuwa kidogo bora zaidi ya 2022. kuwa uwezo wa kifedha wa Kampuni ni thabiti na ina uwezo wa
kuendelea kufanya biashara kwa maana iliyoelezwa na Sheria ya
Matarajio Ya Baadaye Ya Kampuni Makampuni ya Mwaka 2002 ya Sheria za Tanzania na Viwango
Soko la saruji nchini Tanzania na eneo la Afrika Mashariki vya Taarifa za Fedha za Kimataifa.
limekuwa likikua kwa utulivu katika miaka iliyopita. TPCPLC
imewekeza katika kuongeza uwezo wa uzalishaji, kufufua Matukio Makubwa
na kurekebisha mashine za zamani za uzalishaji wa klinka, Hapakua na matukio mkubwa katika mwaka wa fedha.
na kutambua vyanzo muhimu vya malighafi ili kuhakikisha


Utawala wa Kampuni
“TPCPLC inazingatia viwango vya juu vya Utawala

Bora ili kuhakikisha thamani na mafanikio ya muda
mrefu ya Kampuni na maslahi ya makundi mbalimbali
ya wadau wake, kama wanahisa, wateja, wauzaji,
wafanyakazi, na jamii.”
TPCPLC ina taasisi tatu: Mkutano mkuu wa wanahisa, bodi ya wakurugenzi, na kamati ya ukaguzi. Majukumu na wajibu wa taasisi
hizi yanategemea sana Sheria za Soko la Hisa na Katiba ya kampuni. Bodi ya Wakurugenzi inaamini kuwa Kampuni inazingatia
kanuni za Utawala Bora zinazohitajika na Sheria za Soko la Hisa.
Wanahisa hutekeleza haki zao kabla au wakati wa mkutano mkuu na hivyo kutekeleza haki yao ya kupiga kura. Mkutano mkuu
wa mwaka hufanyika katika miezi mitano ya kwanza ya mwaka wa fedha. Pia, wakurugenzi wa kampuni wanaoweza kuwakilisha
wanahisa kulingana na maagizo wanapatikana kwa wanahisa ili kutekeleza haki zao za kupiga kura katika Mkutano Mkuu wa
Kawaida.
Taasisi kuu tatu za 1. Mkutano Mkuu wa Kawaida

Utawala Bora wa 2. Bodi ya Wakurugenzi
Kampuni yetu ni: 3. Kamati ya Ukaguzi

Kanuni zetu za Maadili ya Biashara (CBC)
Uendelevu
- Uzingatiaji wa masuala ya endelevu Afya na Usalama

na mazingira
Kuhakikisha mazingira salama
- Kuchukulia kwa umakini rasilimali
na yenye afya kazini
asili za nchi
Uzingatiaji wa Sheria
Usawa
-Uzingatiaji mkali wa sheria zote
Mazingira ya ajira ya
zinazohusika
-Kuepuka kwa kudumu
CBC DISCRIMINATION haki na yasiyobagua
na mazungumzo ya
migongano ya maslahi
haki na wawakilishi wa
wafanyakazi
Uaminifu
Uwajibikaji
Uaminifu na tabia ya kitaalam
kuelekea wateja, wauzaji, - Kuchukua tahadhari na
mamlaka, na washirika wa kushughulikia kwa uwajibikaji mali na
biashara rasilimali za Kikundi
- Kuchukua tahadhari na
kushughulikia kwa uwajibikaji taarifa
za kampuni

Utawala wa Kampuni Continued
Bodi yetu ya Wakurugenzi
Bodi kwa sasa inajumuisha wakurugenzi sita: wakurugenzi watano wasio watendaji na mkurugenzi mkuu. Majukumu ya
mwenyekiti na mkurugenzi mkuu ni tofauti ili kufikia usawa kati ya uendeshaji na udhibiti. Bodi inawajibika kwa wanahisa kuhusu
utawala wa kampuni, kuweka mkakati na sera, ufuatiliaji wa utendaji wa kioperesheni, michakato ya usimamizi wa hatari, na
kuweka viwango vya mamlaka. Bodi imepangwa kukutana mara 3 katika mwaka wa fedha.
Wakurugenzi wa Kampuni ambao wamehudumu wakati wa mwaka huu, na hadi tarehe ya ripoti hii
Bw. Hakan Gurdal Bw. Alfonso Velez Bw. Oswald Martin Urassa
Mwenyekiti Mkurugenzi Mtendaji Mkurugenzi
Uteuzi wa Awali: 23 Agosti 2016 Uteuzi wa Awali: 29 Agosti 2017 Uteuzi wa Awali: 25 Mei 2016
Uraia: Mturuki Uraia: Mhispania Uraia: Mtanzania
Umri: 54 Umri: 54 Umri: 58
Bw. Hakan Gurdal aliteuliwa kuwa Bw. Alfonso Velez aliteuliwa kuwa Bw. Oswald Urassa ni Afisa Mkuu wa
Mwenyekiti wa Bodi ya TPCPLC mnamo Mkurugenzi Mtendaji wa TPCPLC tangu Fedha (CFO) wa Tanzania Mortgage
Agosti 2016. Amesomea uhandisi wa Agosti 2016. Mnamo Agosti 2017, aliteuliwa Refinance Co. Ltd. Alisomea masomo
mitambo katika Chuo Kikuu cha Yildiz kuwa Mkurugenzi Mkuu wa Afrika ya Kati ya fedha katika Chuo Kikuu cha Dar es
Technical huko Istanbul na ana shahada na Kusini-Mashariki ambazo zilijumuisha Salaam na amesajiliwa na Bodi ya Kitaifa
ya Uzamili ya Usimamizi wa Kimataifa Tanzania, Jamhuri ya Kidemokrasia ya ya Wakaguzi na Wahasibu (NBAA) katika
(MBA International Management) kutoka Kongo, Msumbiji, na Afrika Kusini. kategoria ya Wakaguzi na Wahasibu wa
Chuo Kikuu cha Istanbul. Umma waliothibitishwa katika Mazoezi ya
Alfonso ana Shahada ya Uzamili ya Umma (CPA-PP).
Alijiunga na Canakkale Cimento (ambayo Uchumi na Shirika la Biashara kutoka
sasa ni sehemu ya ushirikiano wa Chuo Kikuu cha Granada, na Shahada Amekuwa mwanachama wa bodi katika
pamoja Akcansa) mnamo 1992. Yeye ni ya Uzamili ya Fedha ya Kampuni kutoka taasisi mbalimbali ikiwa ni pamoja na
mwanachama wa Bodi ya Uongozi tangu Chuo Kikuu cha Dallas. Mfuko wa Wafanyakazi wa Serikali (GEPF),
mwaka 2016; anahusika na eneo la Kundi Bodi ya Wakaguzi na Wahasibu (NBAA),
la Afrika-Mediterranean Mashariki na Ana uzoefu mkubwa katika tasnia ya Chama cha Wahasibu Tanzania (TAA),
Ununuzi. saruji kutoka kampuni za barani Ulaya, Bodi ya Uwekezaji (ITB), na Kanisa la
kabla ya kujiunga na HeidelbergMaterials Kilutheri la Kiinjili la Tanzania, Dayosisi ya
mnamo 2013 kama Mkurugenzi Mtendaji Mashariki na Pwani (ELCT-ECD).
wa CIMBENIN.

Bw. Dominik Michel

Bw. Francesco Brambilla Bi. Ruth Henry Zaipuna
Mkurugenzi
Mkurugenzi Mkurugenzi
Uteuzi wa Awali: 24 Novemba 2021
Uteuzi wa Awali: 25 Aprili 2018 Uteuzi wa Awali: 25 Mei 2016
Uraia: Muajemi
Uraia: Muitaliano Uraia: Mtanzania
Umri: 46
Umri: 51 Umri: 49
Bwana Dominik Michel, raia wa Ujerumani,
Bw. Francesco Brambilla aliteuliwa kuwa Bi. Ruth Zaipuna, raia wa Tanzania, ni
aliteuliwa kuwa mkurugenzi wa bodi ya
mkurugenzi wa bodi ya TPCPLC mnamo Mkurugenzi Mtendaji wa NMB Bank PLC,
TPCPLC mnamo Novemba 2021. Bwana
Aprili 2018. Alisomea Uhandisi wa Kiraia anahusika na kuendesha mkakati wa
Dominik amehudumu kama mwanachama
katika Chuo Kikuu cha Pavia (Italia) na kampuni ili kuleta ukuaji endelevu wa
wa Kamati ya Ukaguzi ya TPCPLC tangu
ana Shahada ya Uzamili ya Biashara biashara.
mwaka 2015.
(MBA) kutoka Shule ya Biashara ya Essec
(Ufaransa) na Shule ya Biashara ya Kabla ya kujiunga na NMB Bank PLC,
Amehudumu katika Bodi na Kamati za
Mannheim (Ujerumani). alifanya kazi na Standard Chartered Bank
Ukaguzi katika kampuni mbalimbali
Tanzania na PricewaterhouseCoopers
ya saruji ndani ya kundi hilo, akiwa na
Alijiunga na Heidelberg Cement mwaka (PwC). Anashikilia Shahada ya Uzamili ya
uzoefu wa kifedha na usimamizi wa zaidi
2016 kama Mkurugenzi wa Upelelezi wa Biashara ya Uongozi (MBA) katika Fedha
ya miaka 15 katika nafasi za juu, ikiwa
Soko na Mchakato wa Uuzaji kwa eneo la na Shahada ya Bachelor ya Biashara
ni pamoja na Mkurugenzi wa Fedha/
Kundi la Afrika na Bahari ya Mashariki ya (B.Com) katika Uhasibu, zote kutoka Chuo
Mkurugenzi Mtendaji wa Fedha huko
Kati. Ana uzoefu mkubwa katika biashara Kikuu cha Dar es Salaam. Pia ana vyeti
Sierra Leone, Ghana, na Misri mtawaliwa.
ya saruji, na kabla ya jukumu lake la sasa, vya Associate Certified Public Accountant
Kwa sasa, yeye ni Mkurugenzi wa Eneo,
alishikilia nafasi kadhaa za uongozi katika (ACPA (T)).
Upangaji na Uchambuzi wa Kifedha kwa
uendeshaji na mikakati na maendeleo ya
Eneo la Afrika na Mashariki ya Mediterania
biashara, huko Ulaya na Afrika.
(AEM) katika HeidelbergMaterials.
Wakurugenzi wote wa sasa ni si-watendaji isipokuwa Mkurugenzi Mtendaji.
Wakurugenzi “Bi. Ruth Henry Zaipuna” na “Bw. Oswald Martin Urassa” waliteuliwa
tena tarehe 22 Mei 2022.
Katibu wa Kampuni kwa mwaka ulioishia tarehe 31 Desemba 2022 alikuwa Bwana
Brian Kangetta (Mkenya), mwenye umri wa miaka 45.

Utawala Wa Kampuni Inaendelea
Bodi ya wakurugenzi
Wajumbe wa Kamati ya Ukaguzi

Maslahi ya Wakurugenzi katika hisa za Kampuni
Wajumbe wa Kamati ya Ukaguzi ambao walihudumu wakati wa
Number of shares
mwaka huo, na hadi tarehe ya ripoti hii, ni:
2022 2021 Jina Uraia Sifa
Bw. Oswald Martin Urassa 500 500

Bw. Dominik Michel Mjerumani Bachelor BA
Vikao vya Bodi B.com, MBA,

Bw. Oswald Martin Urassa * Mtanzania
Jedwali linaloonekana hapa chini linaonyesha rekodi ya CPA(T)
kuhudhuria kwa wanachama wa bodi katika mikutano ya
B.com, MBA,
kawaida ya bodi iliyopangwa wakati wa mwaka. Bi. Ruth Henry Zaipuna Mtanzania
CPA(T)
12 Apr 12 Jul 30 Nov

Name * Bwana Oswald Martin Urassa aliteuliwa kuwa mwanachama wa
2022 2022 2022
kamati ya ukaguzi tarehe 3 Desemba 2021. Mwenyekiti wa kamati
Bw. Hakan Gurdal √ √ √ ya ukaguzi ni Bwana Oswald Martin Urassa.
Bw. Dominik Michel √ √ √

Vikao vya Kamati ya Ukaguzi.
Bw. Alfonso Velez √ √ √ Jedwali linaloonekana hapa chini linaonyesha rekodi za uwepo
wa wajumbe wa kamati ya ukaguzi kwenye mikutano ya kawaida
Bw. Oswald Martin Urassa √ √ √
iliyopangwa kwa mwaka huo.
Bi. Ruth Henry Zaipuna √ √ x 12-Apr- 12-Jul- 30-Nov-

Jina
2022 2022 2022
Bw. Francesco Brambilla √ √ √
ü
√ à Alikuwepo X à Hakuwepo Mwakilishi
Mr Dominik Michel ü ü wa
Kamati ya Ukaguzi. Francesco
Brambila
Bodi inasaidiwa katika utekelezaji wa majukumu yake
Bi. Ruth Henry Zaipuna ü ü x
yanayohusiana na taarifa za kifedha, utekelezaji wa sheria,
usimamizi wa hatari, uhasibu, na usimamizi wa mifumo ya Bw. Oswald Martin Urassa ü ü ü
habari na kompyuta na Kamati ya Ukaguzi. Kamati ya Ukaguzi
inaongozwa na Mmoja wa Wakurugenzi Wasio Watendaji.
√ à Alikuwepo X à Hakuwepo
Mikutano inafanyika kwa kipindi cha mwaka mzima na
huhudhuriwa na uongozi wa ngazi za juu na wasimamizi wa
Tathmini ya utendaji na tuzo
kampuni pale inapohitajika. Kamati ya Ukaguzi ilikutana mara 3
mwaka 2022 (2021: mara 3).
Kampuni imeanzisha mfumo wa tathmini na malipo ya ziada kwa
mameneja na wafanyakazi wake. Tuzo katika mfumo wa ziada
za kila mwaka zimeunganishwa na utendaji wa kifedha wa jumla
wa Kampuni, uzalishaji, afya na usalama, pamoja na malengo ya
utendaji yaliyowekwa kwa kila mtu kibinafsi.

Malipo ya Wakurugenzi
Usimamizi wa hatari na udhibiti wa ndani
Kampuni ilitoa jumla ya TZS 109.3 milioni (2021: TZS 115.3 milioni)
TPCPLC inakabiliwa na hatari kadhaa kutokana na shughuli kwa huduma zilizotolewa na Wakurugenzi wa Kampuni na
zake za biashara, na usimamizi mzuri wa hatari ni muhimu kwa wanachama wa Kamati ya Ukaguzi.
utawala bora wa kampuni. Mfumo imara wa usimamizi wa hatari
wa kampuni hufanikisha kutambua mapema na kutathmini Malipo kwa huduma zilizotolewa na wakurugenzi yalikuwa kama
kwa njia ya kimethodolojia hatari zinazowezekana, kuhakikisha ifuatavyo:
usimamizi wa hatari unaolengwa. Aidha, TPCPLC ina mfumo wa
udhibiti wa ndani ambao unajumuisha hatua za udhibiti huru na Namba TZS’000 2022 2021
zilizounganishwa kupitia kazi ya ukaguzi wa ndani.
Mwenyekiti wa Bodi 10,393 12,188
Mkaguzi wa Ndani anawajibika kuanzisha na kutekeleza mpango Wakurugenzi wengine 98,345 103,692
wa ukaguzi wa ndani kila mwaka ambapo kufuata sera na
taratibu, ufanisi wa udhibiti wa ndani na usimamizi wa hatari, na
uwezekano wa kuboresha hupimwa. Aidha, Kampuni inanufaika Uongozi wa Kampuni
na ukaguzi wa kawaida na timu ya ukaguzi wa ndani ya wamiliki
wakuu. Watumishi wa Menejimenti Muhimu ambao walihudumu katika
Kampuni kwa mwaka ulioishia tarehe 31 Desemba 2022 walikuwa
wafuatao:
Maadili ya biashara na uadilifu wa kampuni Jina Nafasi
Mr. Alfonso Velez Mkurugenzi Mtendaji

Masuala ya utawala bora na tabia ya maadili ni muhimu Mr. Peter James Mkurugenzi wa Fedha
katika mtazamo wa wenzetu na wawekezaji kuhusu Kampuni Mrs. Evaline Mushi Mkurugenzi wa Rasilimali Watu
iliyoorodheshwa. Kampuni inajitahidi kuhakikisha kuwa uadilifu
Mr. Yves Mataigne Mkurugenzi wa Biashara
wake na tabia yake ya kitaalam daima hauwezi kushambuliwa.
Mr. Gilles Covello Mkurugenzi wa Kiufundi
Kampuni imeandaa mwongozo wa maadili kwa wafanyakazi
Mr. Ahmed Elsawy Meneja wa Kiwanda
wake ili kupunguza gharama ya tabia zisizo za maadili kwa
wadau wake. Kampuni imechukua kanuni kuu za biashara Mr. Jerome Mwakabaga Meneja wa Afya na Usalama
zilizowekwa na mmiliki mkuu na mwongozo wa kupambana na Mr. Ian Dobson* Mkurugenzi wa Manunuzi
rushwa. Hivyo, kila mfanyakazi amesaini tamko la kuzingatia Mr. Ali Ahmed* Mkurugenzi wa Manunuzi
sheria hizi.
*Mr. Ian Dobson alihamishwa kutekeleza majukumu mengine
Ripoti za usimamizi, ripoti za kifedha, na ndani ya Heidelberg Materials Group. Bwana Ali Ahmed
ukaguzi alipandishwa cheo na kuwa Mkurugenzi wa Manunuzi katika
kipindi hicho hicho.
Masuala ya utawala bora na tabia ya maadili ni muhimu
Kampuni ina sehemu ya ukaguzi wa ndani huru ambayo inaripoti
kwa mtazamo wa wadau na wawekezaji kuhusu Kampuni moja kwa moja kwa kamati ya ukaguzi ya bodi. Meneja wa
iliyoorodheshwa. Kampuni inajitahidi kuhakikisha kuwa uaminifu Ukaguzi wa Ndani na Uhakikisho wa Ubora ni Gregory Ndimbo.
na tabia ya kitaalamu ni bila shaka yoyote. Kampuni imeandaa

mwongozo wa maadili kwa wafanyakazi wake ili kupunguza
gharama za tabia isiyo ya maadili kwa wadau wake. Kampuni
imechukua kanuni kuu za biashara za wamiliki wakuu na
mwongozo wa kupambana na rushwa. Kwa hiyo, kila mfanyakazi
amesaini tamko la kuzingatia kanuni hizo.

Timu Yetu ya Uongozi
“Timu yetu ya uongozi ambayo ilihudumu katika

mwaka ulioishia tarehe 31 Desemba 2022 na
kuiongoza Kampuni kuelekea mafanikio mapya
yasiyokuwa na kifani katika ukuaji wa biashara na
ustahimilivu”
Bw. Ahmed Elsawy Bw. Ali Ahmed Bi. Evaline Mushi Bw. Gregory Ndimbo Bw. Yves Mataigne
Meneja wa Kiwanda Mkurugenzi wa Manunuzi Mkurugenzi wa Rasilimali Meneja wa Ukaguzi wa Mkurugenzi wa Biashara
Watu Ndani na Ubora

Bw. Alfonso Velez Bw. Gilles Covello Bw. Jerome Mwakabaga Bw. Peter James
Mkurugenzi Mtendaji Mkurugenzi wa Kiufundi Meneja wa Afya na Usalama Mkurugenzi wa Fedha

Usimamizi wa Vihatarishi
“Kufanya kazi katika mazingira

yanayobadilika, TPCPLC Kutambua na Kutathmini Vihatarishi
inakabiliwa na vihatarishi vya Nje, Uongozi wa Kampuni na idara ya usimamizi wa ndani, hushiriki
kiutendaji na Kifedha. Kudhibiti mara kwa mara katika mchakato wa kutambua vihatarishi, kwa
vihatarishi hivi, kampuni imeweka kutumia vyanzo mbalimbali vya habari kama vile, data za jumla
mfumo wa kina wa udhibiti na za uchumi, taarifa za vihatarishi za sekta ya viwanda na kwa
usimamizi wa ndani. Kwa kuchukua kutumia zana na mbinu mbalimbali za utambuzi wa vihatarishi.
mfumo huu, kampuni inaweza Aidha, uongozi unapitia katalogi za vihatarishi vya ndani ambazo
kutambua, kutathmini, kupunguza hutunza kumbukumbu za vihatarishi vya kifedha na vile visivyo
na kufuatilia vihatarishi vyote” vya kifedha.
Kwa kila aina ya kihatarishi iliyo ainishwa, hutathminiwa kwa

Kufanya kazi katika mazingira yanayobadilika, TPCPLC
kiwango cha chini cha 10% kwa kuzingatia athari zinazotarajiwa,
inakabiliwa na vihatarishi vya Nje, kiutendaji na Kifedha.
kwa kuzingatia hatua zote ambazo zimekwisha wekwa kwa ajili
Kudhibiti vihatarishi hivi, kampuni imeweka mfumo wa kina
ya kupunguza athari za vihatarishi. Uongozi umeweka mzunguko
wa kudhibiti vihatarishi na usimamizi wa ndani, ambao
wa miezi 12 unaotumika kukadiria uwezekano na athari kwenye
unasimamiwa vyema na vifaa husika. Kwa kuchukua mfumo
vigezo muhimu kama vile matokeo ya shughuli zinazofanyika
huu, kampuni inaweza kutambua, kutathmini, kupunguza na
sasa, Faida ipatikanayo katika mwaka mzima, na mtiririko wa
kufuatilia vihatarishi vyote vitokanavyo katika mfumo wake,
pesa, unatumika kama vigezo vya kutathmini athari zitokanazo
huku ikihusisha uchakataji wa vihatarishi ambavyo vinatarajia
na vihatarishi. Vihatarishi huchukuliwa kama jumla ya njia zote
kukutana navyo mbele katika maamuzi yote ya kimkakati.
zinazotumika katika kupunguza athari zake.
Mbinu hii inasaidia kupunguza vihatarishi vyote ambavyo
vinaweza kutokea na kupunguza athari za matukio yote mabaya
Ifuatayo ni kiwango cha msingi cha vihatarishi vya muda mfupi
yanayoweza kutokea.
ambavyo vipo katika mzunguko mzima wa mpango kazi:
Bodi ina jukumu la mwisho katika usimamizi na udhibiti wa

Uwezekano
vihatarishi na mifumo ya udhibiti ya ndani ya kampuni. Bodi
imeiagiza uongozi wa kampuni kuhakikisha inatengeneza na Haiwezekani 0% to 20%
kunakuwa na mifumo mizuri ya kudhibiti Fedha na kiutendaji, Mara chache >20% to 40%
inaitunza na inafanya kazi ipasavyo ili kutoa hakikisho la kutosha Inawezekana >40% to 60%
la kiufanisi na ufanisi katika utendaji.. Itawezekana >60% to 100%
Hii itasaidia katika: Maeneno ya Vihatarishi

• Mali za kampuni zitalindwa ipasavyo, Tunaainisha hatari zote zinazoweza kuwa na athari kubwa
• Kuzingatia sheria na kanuni zinazotumika, katika mali za kampuni, kwenye fedha na mapato yetu katika
• Kuwa na rekodi za uhasibu zinazoaminika, makundi Matano: hatari za kifedha, hatari za kimkakati, hatari za
• Uendelevu wa biashara, na uendeshaji, hatari za kisheria na hatari za mabadiliko ya tabia
• Tabia ya kuwajibika kwa washika dau wote..

ya nchi. Kategoria hizi zinatokana na katalogi yetu ya hatari za Vihatarishi Ukwasi

ndani na kutoka kwa mwekezaji wetu mkuu. Tutazingatia sana Vihatarishi vya Ukwasi hutokea wakati kampuni haiwezi kununua
tathmini yetu ya hatari kwenye hatari ambazo zinachukuliwa au kuzalisha fedha zinazohitajika ili kutimiza majukumu ya
kuwa muhimu kwenye kampuni yetu. uendeshaji au majukumu yaliyowekwa kuhusiana na vyombo
vya fedha.Kwa kesi hii, idara ya hazina inadhibiti kwa karibu
Chini ni mabadiliko ya hatari kwa kulinganisha na mwaka nakupanga mtiririko wa pesa kulingana na mipango ya kila
uliopita: mwezi na yote yanayoweza kutokea au yale yanayotarajia
kutokea, pamoja na kuhakikisha utofauti wa vyanzo vya ufadhili,
Hatari za kifedha hii inajumuisha usimamizi mzuri wa hatari za mikopo kupitia
dhamana ya benki, barua za kibenki na kadhalika.
Hatari za kimkakati
Hatari za kiuchumi Vihatarishi vya Kimkakati

Mazingira ya Kiuchumi na kijamii ya kimataifa na nchi
Hatari za kisiasa na kijamii
yanabadilika mara kwa mara kutokana na mielekeo ya dunia
Maafa ya asili/ majanga nzima kama vile mabadiliko ya hali ya hewa, maendeleo ya
idadi ya watu, magonjwa ya mlipuko, ukuaji wa kidigitali na
Uhaba wa malighafi
teknolojia. Mitindo hii inatoa hatari na fursa kwa pamoja. Uwezo
Ukuaji wa kidigitali wa kampuni kukabiliana na mabadiliko haya huamua athari
na mwelekeo juu yake. Hatari zinazotokana na mabadiliko ya
Upungufu wa ujuzi
mtindo zinaweza kuathiri mahitaji, viwango vya bei na gharama,
Hatari za uendeshaji na hivyo mapato ya kampuni. Sehemu inayofuata, tunaelezea
na kutathmini hatari hizi na kuashiria hatua zilizochukuliwa ili
Hatari za kisheria
kupunguza athari hizo.
Hatari za tabia ta nchi
Vihatarishi vya Kiuchumi
Hatari za soko na sifa Muelekeo wa kiuchumi umeathiriwa na vihatarishi mbalimbali.
Kufuatia ukuaji wa uchumi wa dunia wa 6.2% katika 2021.
Imeongezeka Imara
Taarifa ya mwezi January 2023 ya Shirika la Fedha Duniani (IMF)
inaonesha kuwa uchumi wa dunia ulitarajia kushuka kwa kiwango
kikubwa hadi asilimia 3.4 kwa 2022 na hadi asilimia 2.9 kwa
Vihatarishi vya Kifedha mwaka 2023. Licha ya kushuka kwa uchumi wa dunia, kiwango
Hatari yetu kubwa ya Kifedha ni mabadiliko ya sarafu pamoja na cha ukuaji wa Pato la Taifa la Tanzania kwa mwaka 2022 kilifikia
hatari ya ukwasi, pamoja na hatari za kodi. Tunadhibiti hatari hizi asilimia 5.2 ikilinganishwa na asilimia 4.9 mwaka 2021.Bei ya
hasa kama sehemu ya shughuli zetu zinazoendelea za kibiashara mafuta nchini bado inaongezeka kutokana na vita vya Urusi na
na uwekezaji, na pale inapohitajika kwa kutumia zana za kifedha. Ukraine.
Maeneo haya hatarishi yanafuatiliwa mara kwa mara na idara ya Katika kushuka kwa uchumi na kupungua kwa shughuli za
fedha ya kampuni kwa ukaribu na idara ya fedha ya mwekezaji ujenzi, kampuni inaweza kukabiliwa na kushuka kwa mahitaji
mkuu wa kampuni. na shinikizo la bei. Tunaamini kuwa hali ya hatari imeongezeka
ikilinganishwa na mwaka jana. Hata hivyo, kampuni(TPCPLC)
Vihatarishi vya Sarafu inaweza kupunguza hatari hii kwa sehemu kwa sababu
Hatari kubwa zaidi inayohusiana na hatari za kifedha ni hatari za ya portofolio yake yenye tofauti katika masoko na vyanzo
mabadiliko ya sarafu, haswa hatari ya tafsiri. Sarafu inayofanya mbalimbali vya malighafi na vipuri ambavyo hupunguza
kazi katika kampuni (TZS) inakabiliwa na kubadilika badilika kwa utegemezi.
soko la fedha la kimataifa. Hii inaweka kampuni kwenye hatari za
kubadilisha fedha za kigeni. Uongozi wa kampuni unafuatilia kwa
ukaribu hatari hii na kuchukua maamuzi sahihi ili athari iweze
kupunguzwa. Maelezo Zaidi kuhusu hatari ya fedha za kigeni
yamejumuishwa katika dokezo namba 42 la taarifa za fedha.

Usimamizi wa Vihatarishi Inaendelea
na mageuzaji ya kidijitali. Kuongezeka kwa teknolojia mpya za

Vihatarishi vya Kisiasa na Kijamii
kidijitali na za mtandao, pamoja na kuongezeka kwa otomatiki,
Kukosekana kwa utulivu katika hali ya kiuchumi, kijamii, au
kuna kuchangia kutokea kwa mifano mipya ya biashara na
kisiasa, kama vile mabadiliko katika serikali au kuongezeka
kubadilisha ile iliyopo. Sekta ya ujenzi na vifaa vya ujenzi pia
kwa mvutano wa kisiasa, machafuko ya kiraia, na migogoro
inabadilika taratibu kutokana na udijitali, ambayo inaweza
ya ndani au ya kimataifa, inaweza kuwa na athari kubwa kwa
kusaidia katika kufikia usawa wa hali ya hewa katika ubunifu
mali, biashara, mazingira na sifa njema ya kampuni. Athari
na ujenzi wa majengo. Mabadiliko haya yanaweza kusababisha
hizi zinaweza kuwa za moja kwa moja, kama vile athari za
ujenzi wa majengo yenye ufanisi zaidi na ya kudumu kwa muda
usalama, au zisizo za moja kwa moja, kama vile kutotabirika
mrefu.hivyo kupunguza uzalishaji wa hewa ya ukaa na hivyo
kwa uchumi. Zaidi ya hayo, zinaweza kuongeza uwezekano wa
kupunguza matumizi ya saruji. Udijitali pia unaweza kuongeza
kampuni kukabiliwa na hatari mbalimbali, katika utekelezaji, kodi,
ufanisi wa kiutendaji na kiuzalishaji,kame uchambuzi wa
upatikanaji wa malighafi na kupunguza mtiririko wa fedha.
taarifa halisi kutoka kwenye mifumo iliyounganishwa,kuangilia
matengenezo na usimamizi bora wa michakato ya uhifadhi mali
Katika miaka ya hivi karibuni, Tanzania imepata maendeleo ya
na uzalishaji.
kuvutia kisiasa na kiuchumi na imefanya maboresho makubwa
katika ustawi wa jamii. Ijapokuwa hali ya kisiasa imeendelea
Maendeleo duni katika udijitali yanaweza kusababisha kupoteza
kua tulivu, mabadiliko ya ghafla katika hali ya kisiasa au kijamii
ufanisi na ushindani. Tunachukulia udijitali unaweza kupelekea
yanaweza kuathiri moja kwa moja utendakazi wa Kampuni
athari kwa kampuni. Tunakadiria kiwango cha hatarishi ya
kwa kuzuia ufikiaji soko au kuzuia upatikanaji wa malighafi au
kidigitali kuwa hakijabadilika kutoka mwaka uliopita TPCPLC
nishati. Kutokana na vihatarishi hivi, TPCPLC hufanya tathmini
inachunguza na kuwekeza kikamilifu katika teknolojia mpya ili
ya kimfumo ya hatari hizi ili kuhakikisha upunguzaji wa haraka
kufaidika na fursa ya maendeleo mapya ya kidijitali mapema
inapotokea kutokea.
iwezekanavyo.
Maafa ya asili/majanga (Matukio ya nje

Uhaba wa ujuzi na ufanisi
yasiyotarajiwa)
Wafanyakazi wetu wenye uzoefu wanapofikia umri wa kustaafu,
Maafa ya asili/majanga (Matukio ya nje yasiyotarajiwa)
kuna uwezekano wa kukabiliana na upungufu wa watendaji
Uendeshaji wa biashara yetu unaweza kuathiriwa vibaya na
wenye uzoefu na ufanisi, hili linaweza kusababisha kupungua
matukio yasiyotarajiwa, kama vile majanga ya asili au magonjwa
kwa uzilishaji na kuongezeka gharama za rasilimali watu hivyo
ya mlipuko.
kuongeza gharama za uzalishaji. Tunatarajia kiwango cha
Mahitaji ya kisheria yanayohusiana na kuibuka kwa aina mpya
hatarishi hii kubaki bila kubadilika kutoka mwaka uliopita.
za COVID-19 bado ni hatari kwa shughuli kampuni. Kawaida,
ili kupunguza hatarishi hii TPCPLC hutekeleza mpango
majanga ya asili na milipuko ya magonjwa hutokea ghafla.
mkakati wa kuvutia wafanyakazi na kupunguza idadi ya
Hata hivyo, baada ya tathmini ya kina, tumebaini kwamba
wafanyakazi wanaoondoka kazini. Kama vile kuwapa ujuzi
hakuna hatari kubwa ya matukio kama hayo kuathiri shughuli za
katika idara mbalimbali au kupata ujuzi kupitia kampuni shirika
kampuni Kwa kiasi kikubwa.
zinazomilikiwa na mmiliki wetu mkuu.
Uhaba wa malighafi
Vihatarishi katika uendeshaji
Upatikanaji wa malighafi una athari kubwa kwa gharama na
Maeneo hatarishi katika uendeshaji wa biashara hujumuisha
uendeshaji wa kampuni kwa ujumla, na kwa hivyo, unaweza
ongezeko la gharama za nishati na upatikanaji wa malighafi.
kuathiri sana matokeo yetu ya kifedha. Tunachukulia uhaba
Pia tunazingatia mahitaji ya kisheria yanayo husiana na vizuizi
wa malighafi kuwa hatarishi mahususi katika sekta ya
katika mazingira na Pamoja na hatarishi katika uzalishaji , ubora
uzalishaji ambayo inaweza kuathiri kampuni hatua kwa hatua.
na teknolojia ya Habari. Hatarishi katika eneo la uendeshaji
Tunaamini kwamba mtazamo katika hatarishi hii umebaki
zimeongezeka ikilinganishwa na mwaka uliopita.
sawa ikilinganishwa na mwaka uliopita. Ili kupunguza hatarishi
hii, TPCPLC inaendelea kufuatilia akiba yetu ya malighafi,
Gharama za nishati na upatikanaji
upatikanaji wa ndani wa malighafi, na kuhakikisha upatikanaji
Nishati ni muhimu katika shughuli za uendeshaji wa Kampuni
wa malighafi mbadala pale inapowezekana.
na hivyo basi, maeneo hatarishi katika uendeshaji wa kampuni
Digitali
unaweza kuchangiwa na upatikanaji, usambazaji wa umeme na
Ulimwengu wa biashara unapitia mabadiliko muhimu kutokana
gesi wa kuaminika, pamoja na bei ya nishati hizi.

Kampuni inategemea sana usambazaji wa umeme kutoka Vihatarishi katika eneo la ubora
Kampuni ya Ugavi wa Umeme Tanzania (TANESCO). Kwa miaka Saruji iko chini ya viwango vikali. Iwapo bidhaa zinazotolewa
mingi, kumekuwa na maboresho makubwa katika usambazaji wa hazifikii viwango vilivyowekwa au mahitaji ya ubora ya mteja,
nishati, ingawa kukatika kwa umeme bado kunaleta athari kubwa tunaweza kupoteza kiasi cha mauzo, kukabiliwa na madai ya
kwa shughuli za uendeshaji a kampuni. uharibifu na/au kuharibu uhusiano wetu na wateja. Kampuni
inahakikisha uzingatiaji wa viwango kutoka kwa mbia wetu
Gesi asilia hutumiwa katika mchakato wa kuchoma klinka, mkuu na maabara za watu wengine kwa njia ya uhakikisho wa
kutengeneza klinka yetu wenyewe. Kampuni inategemea sana ubora wa chembe laini sambamba na kila hatua ya mchakato
gesi asilia na kwa hivyo mabadiliko yoyote makubwa ya bei pamoja na ukaguzi wa mwisho. Udhibiti wa uhakikisho wa ubora
au uhaba huwa na athari mbaya kwa shughuli na uzalishaji wa pia unafanywa na wataalam huru kama sehemu ya programu
kampuni. pana za uhakikisho wa ubora. Kwa ujumla, tunazingatia athari
Tunachukulia uwepo wa hatarishi hii kuwa na athari za wastani katika eneo la ubora kuwa ya chini na yenye athari ndogo.
mpaka juu ya wastani Kampuni inahakikisha inafuata viwango katika maabara yake
na uthibitisho wa viwango na Shirika la Viwango Tanzania (TBS)
Upatikanaji wa malighafi na viinikisho (Uthibitisho wa ISO 9001).
Kuzalisha saruji, TPCPLC inahitaji kiasi kikubwa cha malighafi, Vihatarishi katika teknologia ya habari
ambazo kwa kiasi kikubwa hupatikana kutoka kwenye machimbo Michakato yetu ya biashara, mawasiliano, mauzo, usafirishaji
yake. Kifusi cha mawe ya chokaa ambacho kina milikiwa na na uzalishaji inaungwa mkono na mifumo ya TEHAMA,
TPCPLC ndiyo mwanzo wa mchakato wa utengenezaji wa saruji. ambayo inaweza kuleta athari kwenye maeneo makuu mawili:
Chokaa huchanganywa na kiasi kinacholingana cha udongo kutopatikana kwa mifumo ya TEHAMA kwa sababu ya kushindwa
mwekundu ili kuunda mchanganyiko, ambacho huchanganywa au makosa ya kibinadamu, na tishio la vitendo vyenye madhara
vizuri na kuwekwa kwenye tanuru za kuzalisha klinka. Upatikanaji vya kimakusudi vinavyofanywa na watendaji wa nje Pamoja na
wa chokaa ni muhimu kwa shughuli endelevu za uzalishaji, na wa ndani.
kampuni inahakikisha ina akiba ya kutosha ya chokaa ili kukidhi
Ili kupunguza vihatarishi vinavyohusiana na upatikanaji
mahitaji yake.
wa mifumo ya TEHAMA:
Tumetekeleza taratibu za kuhifadhi nakala na miundo msingi na
Vihatarishi vinazohusiana na uzalishaji
michakato sanifu ya TEHAMA. Timu zetu za uundaji wa programu
Sekta ya saruji inahusisha teknolojia changamano ya usindikaji
za ndani hufanya kazi na wataalam wa TEHAMA kutoka kwa
na kuhifadhi malighafi, viungio, na mafuta, na inachukuliwa kuwa
mbia wetu mkuu kutumia michakato ya haraka ambayo
ni sekta inayohitaji mali nyingi. Kuna hatari ya kuumia kibinafsi,
inatanguliza kubainisha na kudhibiti athari. Kwa matukio nyeti
uharibifu wa nyenzo na uharibifu wa mazingira kutokana na ajali
ya utumiaji ambayo yanaingiliana na suluhu zetu za shughuli
na hatari za uendeshaji, ambayo inaweza kusababisha usumbufu
za ERP, tunafanya mtihani mdogo wa majaribio na washirika
katika uendeshaji. kampuni ina mkakati madhubuti inayowezesha
wanaoaminika kwa njia iliyopangwa ili kutambua kwa haraka na
kupunguza programu za kibima kutokana na uchunguzi ulifanywa
kushughulikia athari katika hatua za awali.
miaka kadhaa iliyopita.
Hatua za kupunguza mashambulizi ya mtandaoni ya nje na

Ingawa hatari ya kiwango cha bima kisichotosha kutokea wakati
ya ndani:
wa uharibifu, hasa kutokana na aina adimu na kali za uharibifu
Kwa sababu ya hali ya sasa ya kijiografia na kisiasa na
kama maafa ya asili, ipo, uwezekano wa kutokea ni mdogo. Ili
kuongezeka kwa kuenea kwa mashambulizi ya mtandao kama
kuzuia uwezekano wa uharibifu na matokeo yake, tunategemea
mtindo wa biashara, tishio la mashambulizi, hasa kutoka kwa
mifumo mbalimbali ya ufuatiliaji na usalama katika kiwanda
vyanzo vya nje, limeongezeka kwa kiasi kikubwa. Tunaongeza
chetu, mifumo jumuishi ya usimamizi inayojumuisha viwango
mbinu za usalama katika maeneo mengi.
vya juu vya usalama, pamoja na ukaguzi wa mara kwa mara,
Kwa usaidizi kutoka kwa timu ya usalama wa mtandao kutoka
matengenezo na huduma. Tunatoa mafunzo yanayofaa kwa
kwa mbia wetu mkuu, tunalinda utambulisho wa watumiaji,
wafanyakazi wote ili kuongeza ufahamu wao kuhusu athari
kupitia maboresho ya kudumu ya usalama wa mifumo yetu ya
zinazoweza kutokea. Kwa ujumla, athari zinazohusiana na
utambuzi na tumeanza kuchanganua tabia isiyo ya kawaida ya
uzalishaji zinachukuliwa kuwa chini na zenye athari ndogo.
watumiaji kwa kutumia njia za kiotomatiki.

Usimamizi wa Vihatarishi Inaendelea
Ili kupunguza tishio la mashambulizi ya mtandao ya nje na

ya ndani: kuna hatari inayohusishwa na mabadiliko katika mapendekezo
Kwa kuzingatia hali ya sasa ya kijiografia na mwelekeo unaokua ya watumiaji. Hii inaweza kusababisha ongezeko la uingizwaji
wa mashambulizi ya mtandao kama mtindo wa biashara, wa saruji na vifaa vingine vya ujenzi ambavyo vinachukuliwa
mashambulizi ya ndani na nje ya mtandao yanaleta tishio kubwa. kuwa na alama ya chini ya kaboni. Zaidi ya hayo, kuna hatari ya
Ili kushughulikia hili, tunaongeza mbinu za usalama katika kupanda kwa gharama za malighafi, ambayo inaweza kwa kiasi
maeneo mengi. Timu yetu ya usalama wa mtandao, kwa usaidizi fulani kuchangiwa na uzalishaji endelevu unaozingatia kupunguza
wa mbia wetu mkuu, inachukua hatua za kuimarisha usalama utoaji wa hewa chafu.
wa mifumo yetu ya utambuzi, na hivyo kupata utambulisho
wa watumiaji. Zaidi ya hayo, tumeanza kutumia mbinu za Ili kuhakikisha uzalishaji endelevu kwa siku zijazo, tunachukua
kiotomatiki kuchanganua tabia isiyo ya kawaida ya mtumiaji. hatua za kupata viwango vya kutosha vya nishati mbadala
na malighafi. Pia, sisi tunatambua kwamba kushindwa kufikia
Kwa ujumla, kiwango cha tishio kimeongezeka, na hivyo
malengo yetu uendelevu kwa wakati kunaweza kusababisha
kutupelekea kuzingatia athari ya kukatika kwa mfumo au
maoni hasi kutoka kwa washikadau, jambo ambalo linaweza
programu kama athari ya wastani (ikilinganishwa na hatari
kuhatarisha sifa ya kampuni. Mawasiliano madhubuti yanaweza
ndogo ya mwaka uliopita).
kusaidia kupunguza hatari hizi. Kwa ujumla, tunachukulia athari
katika eneo la soko na hadhi kuwa ni eneo lenye athari ya jumla
Vihatarishi vya kutokufuata sheria na utekelezaji
ambayo inaweza kuwa na athari za taratibu kwa kampuni.
Hatari kubwa kwenye eneo la sheria kwa kampuni ni pamoja na
Tunaamini kwamba mtazamo wa hatari ni thabiti ikilinganishwa
hatari zitokanazo na kesi zenye uchunguzi endelevu , pamoja
na mwaka uliopita.
na hatari zinazotokana na mabadiliko ya sheria na kanuni.
Tunafuatilia kwa karibu mashauri ya kisheria yanayoendelea
Tathmini ya vihatarishi kwa ujumla
kwa mtazamo wa kisheria, na tumeweka masharti ya kifedha
Bodi ya Wakurugenzi imetathmini hali ya hatari ya ujumla ya
yanayofaa kulingana na mahitaji ya kisheria ili kushughulikia
TPCPLC kwa kujumuisha hatari zote kuu na za mtu binafsi.
athari zozote mbaya zinazoweza kutokea kutokana na kesi hizo..
Kulingana na uchunguzi huu, Bodi ina uhakika kwamba hakuna
Kulingana na tathmini zetu, tumebaini kuwa kampuni inakabiliwa hatari kubwa ambazo zinaweza kuwa tishio kwa biashara
na hatari ya wastani katika eneo hili la sheria na kanuni. Hata endelevu, iwe kwa kujitegemea au kwa kuchanganya na hatari
hivyo, athari kwa upande wa kifedha inayohusishwa na ukiukaji nyingine. Hakujawa na mabadiliko makubwa katika hali ya hatari
wa sheria na kanuni ni ya chini, kutokana na kesi zilizoripotiwa na ya TPCPLC kati ya tarehe ya kuripoti na utayarishaji wa taarifa za
kuthibitishwa katika kipindi cha ripoti fedha za 2022. Kampuni ina msingi imara wa kifedha, na nafasi
yake ya ukwasi ni imara.
Vihatarishi vya hali ya hewa
Mahitaji ya saruji yanachangiwa na hali ya hewa, na hali mbaya
ya hewa inaweza kuathiri upatikanaji na uuzaji wa malighafi.
Hata hivyo, nchini Tanzania, hali ya hewa ni tulivu, na hakuna
mabadiliko makubwa yanayotarajiwa mwaka hadi mwaka. Kwa
hivyo, tumetathmini hatari hii kama ya chini..
Vihatarishi vya soko na sifa ya Kampuni

Mojawapo ya athari kubwa kwenye eneo la soko kwa kampuni
ni ushindani, ambao unaongezeka katika soko la Tanzania hivi
karibuni, Pamoja na kuingizwa kwa saruji iliyoagizwa kutoka nje
katika soko. Hata hivyo, kampuni imejipanga vyema kudumisha
makali yake ya ushindani katika soko kwa kutegemea saruji yake
yenye ubora wa juu, chapa dhabiti, wafanyakazi wenye ujuzi, na
usimamizi madhubuti.
Kampuni inapoendelea na jitihada za uzalishaji endelevu

unoazingatia kupunguza utoaji wa hewa chafu (hewa ukaa),

Nguzo Mahiri Mikakati na Rasilimali Mtandao Imara wa Usambazaji

Bidhaa zetu zimeweza kufika sehemu nyingi nchini kutokana
Katika kuyafikia malengo yetu, nguzo mahiri na rasilimali zilizopo
na mtandao madhubuti wa usambazaji na uwepo wa magari
kwa kampuni (zote zinazoonekana na zisizoonekana) ni:
yanayomilikiwa na wasambazaji wetu. Kampuni pia huuza saruji
katika baadhi ya nchi za jirani katika Afrika ya Kati na Afrika
Uwezo wa Uongozi na Wafanyakazi
Mashariki.
Jambo kuu muhimu kama rasilimali ya kampuni ni mtaji wa
watu. Utendaji wa kampuni unaongozwa na viongozi washindani
Nafasi katika Soko
na wenye sifa ambao hujituma katika shughuri za kila siku
Saruji ya Twiga ni bidhaa inayopendwa na hii inafanya Kampuni
kuakikisha wanayafikia malengo ya kampuni. Timu ya uongozi
kushika uongozi katika soko la saruji. Nafasi yetu ya uongozi
hutegemea wafanyakazi wenye uweredi mkubwa na kujitoa
katika soko inatiwa msukumo na kuwa karibu na soko kuu la
ambao wanauzoefu katika viwanda na tehama ya saruji.Kwahiyo
saruji la Dar es Salaam.
kampuni huajiri zaidi wafanyakazi wenye uweredi na ushindani na
pia uwekeza kwenye mafunzo yao.
Msaada wa Kiufundi
Chapa Imara na Bidhaa Bora Kampuni Mama HeidelbergMaterials, inaongoza katika soko la
Saruji chapa Twiga (Twiga Cement) inajulikana sana katika soko kokoto duniani na ni mdau mkubwa katika uzalishaji wa saruji,
na umaarufu wake unatokana na ubora wake. Taswira na ubora zege na shughuli nyinginezo zinazohusiana na hizi. Hii inaifanya
wa bidhaa zetu vinatupa fursa nzuri kwenye soko. Ili kukidhi HeidelbergMaterials kuwa kati ya watengenezaji wakubwa wa
matakwa ya viwango vya ubora katika soko la saruji, Kampuni malighafi za ujenzi duniani. Kampuni inafaidika na huduma
inatengeneza aina nne (4) za saruji: - Twiga Ordinary (CEM I 42.5), bora za kitaalamu na kiufundi kwenye biashara ya saruji kutoka
Twiga Plus (CEM IIB-L42.5N), Twiga Extra (CEM IIB-L32.5R) na HeidelbergMaterials.
Twiga Jenga (MC-22X) na Twiga Super (CEM IIB-L 32.5N). Ubora
wa bidhaa zetu zinazozalishwa hudumishwa kupitia upimaji Akiba bora malighafi ya chokaa
thabiti wa ubora wa malighafi zote katika kila hatua ya uzalishaji. Chokaa ni kati malighafi muhimu katika utengenezaji wa saruji.
Kampuni ina akiba ya kutosha ya chokaa kukidhi mahitaji ya
utengenezaji wa saruji.

Uhusuano wa Wadau
Mchango wa Kisiasa
Wafanyakazi– kampuni iliweka mipango inayozingatia
Kampuni haikutoa michango kwa vyama vyovyote vya kisiasa au
uboreshaji wa ustawi wa mfanyakazi, kuweka vipaumbele vya
sababu za kisiasa katika mwaka huo.
afya na usalama na mafunzo ya wafanyakazi. Zaidi ya hayo,
kampuni inafanya kazi kwa ukaribu na chama cha wafanyakazi
Uwekezaji wa Kijamii wa Kampuni
(TUICO) katika kuhakikisha kuwa masuala yote yanayohusu
wafanyakazi yanashughulikiwa. Kampuni imedumisha uhusiano Katika mwaka unaomalizika, Kampuni ilitoa michango na
mzuri na TUICO. michango mingine ya hisani yenye thamani ya takriban TZS 13.1
milioni (2021: TZS 161.8 milioni)
Wateja – kampuni inawazingatia wateja na imejitolea kikamilifu
katika kutoa huduma zenye ongezeko la thamani, uzoefu na Kando na michango, Kampuni pia imehusika katika Uwajibikaji
bidhaa bora kwa wateja. Timu yetu imedhamiria kuongeza ufanisi kwa Jamii, ikilenga wanawake, huduma za afya, elimu, na
katika uendeshaji na katika soko. watoto. Jumla ya michango ilikuwa TZS 633 milioni (2021: TZS
91.4 milioni).
Wasambazaji – hawa hutoa malighafi, huduma, vipuri n.k.,
ambazo ni muhimu kwa uendeshaji wa mitambo. Kampuni Gawio
inatoa fursa kwa wote kupitia mchakato wa zabuni, vikao na
Wakurugenzi wanapendekeza gawio la Shilingi bilioni 70.17
wasambazaji, kuwatembelea na masharti nafuu ili kuhakikisha
(Shilingi 390 kwa hisa) kwa wanahisa wake kama gawio la
uendelevu wa uendeshaji.
mwisho kwa mwaka 2022. Gawio la mwisho litaidhinishwa
na mkutano mkuu wa mwaka na litalipwa mwezi Juni 2023.
Jamii – Kampuni inajishughulisha na mipango kadhaa ambayo
Mwezi wa Juni mwaka 2022, Kampuni ililipa Shilingi bilioni 70.17
inahakikisha kwamba masuala yanayohusu jamii inayoizunguka
(Shilingi 390 kwa hisa) kama gawio la mwisho la mwaka 2021.
yanashughulikiwa. Kampuni inahakikisha kwamba inapanga
Hakukuwa na malipo kwa ajili ya gawio la awali kwa mwaka
bajeti kwa ajili ya mipango ya jamii katika maeneo ya elimu,
ulioishia Desemba 2022. Kufikia pendekezo hili, wakurugenzi
huduma za afya, wanawake na watoto.
wamezingatia hali ya kifedha ya Kampuni na mahitaji ya
baadaye ya miradi ya uboreshaji.
Serikali na Wathibiti – hawa wanawajibika kwa utoaji wa sera,
vibali na leseni. Kampuni inaendelea kufanya kazi kwa karibu na Matukio ya Baadaye
serikali na wadhibiti kupitia mashirika husika na vikao vya umma.
Hapakuwa na matukio ya baadaye ambayo yametokea na
Kampuni imeweka mipango ya kuhakikisha kuwa shughuli zake
yanayohitaji kuwekwa wazi au kurekebishwa kwenye taarifa za
zinazingatia sheria na kanuni mbalimbali zikiwemo mazingira,
fedha ambayo yangekuwa na athari kwa taarifa hizo za fedha.
afya na usalama. Zaidi ya hayo, kampuni inahakikisha kwamba
shughuli zake zinakuza maendeleo ya kiuchumi na viwanda
nchini.

Shughuli za Biashara na Kampuni zenye

2022 2021
Uhusiano Jina
% ya Umiliki % ya Umiliki
Kampuni mama ya TPCPLC ni HeidelbergMaterials,
iliyoorodheshwa kwenye soko la fedha la Frankfurti katika Scancem International DA 69.25 69.25
Jamhuri ya Shirikisho ya Ujerumani. HeidelbergMaterials inamiliki General Public 22.78 22.78
Scancem International DA ya nchi ya Norway, kwa asilimia 100, Government Pension funds 7.75 7.75
ambayo inamiliki asilimia 69.25 ya hisa zote za TPCPLC. Wazo Hill Saving and Credit
0.22 0.22
Katika mwaka huo, Kampuni ilifanya miamala na Makampuni Cooperative Society
ambayo inahusiana nayo, hii inajumuisha uagizaji wa malighafi 100.00 100.00
kutoka HC Trading Asia na Pacific PTE Limited, na usafirishaji wa
makaa ya mawe kwa HC Trading GMBH. Maelezo ya miamala ya
Sera za Uhasibu
wahusika yanaonyeshwa katika Dokezo 38 la taarifa za fedha.
Taarifa za fedha zimetayarishwa kwa kuzingatia kuwa Kampuni
Mtaji wa Hisa itaendelea na shughuli zake kwa vipindi vijavyo. Miongozo ya
kihasibu imeainishwa kwenye aya ya 3 ya taarifa za fedha na
Jumla ya mtaji wa hisa uliotolewa ni hisa za kawaida 179,923,100
hufanyiwa tathmini kila mwaka ili kuhakikisha kuwa zinaendana
(2020: hisa 179,923,100). Hapakuwepo na mabadiliko yoyote ya
na viwango vya kimataifa vya utoaji wa taarifa za fedha (IFRS).
mtaji wa hisa. Muundo wa mtaji wa Kampuni umeainishwa katika
ukurasa namba 27
Mgawanyo wa hisa za kampuni ni kama ifuatavyo:
Wanahisa wa Kampuni
Idadi ya wanahisa kwa mwaka ulioishia 31 Desemba 2022 ilikuwa 9,310 (2021: wanahisa 9,354), wanaomiliki hisa za kawaida
179,923,100 (2021: 179,923,100).shares (2021: 179,923,100 ordinary shares). Wafuatao walikuwa wanahisa kumi wakubwa wa Kampuni
2022 % ya 2021 % ya
Jina Uraia
Umiliki Umiliki
Scancem International DA Mnorwe 69.25 69.25
Public Service Social Security Fund Mtanzania 6.16 6.16
Standard Chartered Bank Uganda Mganda 5.28 5.28

National Social Security Fund Mtanzania 1.24 1.24
Umoja Unit Trust Scheme Mtanzania 0.99 0.92
African Lions Fund LTD Mtanzania 0.93 0.59

Murtaza Basheer Nasser Mtanzania 0.90 0.90
Said Salim Awadh Bakhresa Mtanzania 0.77 0.51
Sayed H. Kadri/Basharat Kadro/Mehboob

Mtanzania 0.52 0.59
Kadri/Khalid/Muzammil Kadri
Zanzibar Social Security Fund Mtanzania 0.35 0.35
Taarifa ya Soko la Mtaji
Kampuni iliorodheshwa katika soko la mtaji tarehe 29 Septemba 2006 na hisa zake kuanza kuuzwa kwenye soko la Mitaji ya Dar Es
Salaam (DSE). Mwaka 2022 hisa za kampuni zilifanya biashara wakati wote kwenye minada iliyoratibiwa na Soko la Mitaji la Dar Es
Salaam (DSE). Mwaka 2022, mwenendo wa hisa za Kampuni kwenye soko la mitaji ilikuwa kama hivi: Thamani ya Kampuni mnamo 31
Desemba 2022 ilikua Shilingi bilioni 683.7 (2021; Shilingi bilioni 611.7). Bei ya hisa mnamo 31 Desemba 2022 ilikua Shilingi 3,800 kwa hisa,
ikilinganishwa na bei ya hisa ya Shilingi 3,400 kwa mwaka wa 2021 (Bei katika soko la mwanzo ilikua Shilingi 435 kwa hisa).

Masuala ya Kimahakama Taarifa ya Utekelezaji

Katika mwaka huo, hakukuwa na masuala mazito ya
Ripoti ya wale wanaohusika na utawala imeandaliwa kwa kuz-
kimahakama ya kuripoti kama inavyotakiwa na Kiwango cha 1 ingatia Kiwango cha Taarifa za Fedha Tanzania Na. 1 “TFRS 1”
cha Taarifa za Fedha Tanzania (Ripoti ya wale wanaohusika na (Ripoti ya wale wanaohusika na utawala).
Utawala).
Wakaguzi
Maelezo
Taarifa za wakaguzi wa hesabu za Kampuni kwa muda uliotolewa na ripoti ni:
PricewaterhouseCoopers
Pemba House
369 Toure Drive
Oyster Bay
P.O. Box 45
Website: https://www.pwc.co.tz/
Firms’ PF Number: PF 047
TIN: 100212285
Msimamizi wa ukaguzi wa Kampuni katika kipindi mwaka wa fedha ana PF Nambari:

ACPA-PP 1981
Uteuzi wa 2023
PricewaterhouseCoopers (PwC) iliteuliwa kuwa mkaguzi wa Kampuni kwa mwaka 2022. Pia PwC ina nia ya kuendelea kuwa mkaguzi,
na wana vigezo kwa kustahili kuomba kuteuliwa tena. Azimio linalopendekeza uteuzi wa mkaguzi wa mwaka ujao wa fedha litawekwa
kwenye Mkutano Mkuu Wa Mwaka (AGM).
Wajibu wa Wakaguzi
Mkaguzi ana wajibu wa kutoa uhakikisho wa usahihi na uthabiti wa taarifa zote zilizomo kwenye ripoti na wale wanaohusika na
utawala na zile zilizotolewa katika taarifa za fedha
Wajibu wa Wale Wanaohusika na Utawala

Wanachama walio na mamlaka ya usimamizi wanakubali jukumu la kuandaa taarifa hizi za kifedha ambazo zinaonyesha mtazamo
wa kweli na wa haki wa Kampuni hadi tarehe ya kuidhinishwa kwa taarifa za kifedha zilizokaguliwa, kwa mujibu wa viwango
vinavyotumika, sheria, kanuni na masharti ya kisheria. Wanachama pia wanathibitisha kufuata masharti ya mahitaji ya TFRS 1 na
sheria zingine zote za kisheria zinazohusiana na Kampuni.
Imetolewa kwa amri ya Bodi ya wanaohusika na Uongozi
Imeidhinishwa na Bodi ya Wakurugenzi tarehe ____ AprilI 2023 na imesainiwa na:


Statement Of Directors’ Responsibilities

For The Year Ended 31 December 2022
The Tanzanian Companies Act, 2002 requires the Directors to prepare financial statements for each financial year that give a true
and fair view of the state of the affairs of the Company as at the end of the financial year and of its profit or loss for the year. It
also requires the Directors to ensure that the Company keeps proper accounting records that disclose, with reasonable accuracy, the
financial position of the Company. The Directors are also responsible for safeguarding the assets of the Company and hence for taking
reasonable steps for the prevention and detection of fraud, error, and other irregularities.
The Directors accept responsibility for the annual financial statements, which have been prepared using appropriate accounting
policies supported by reasonable and prudent judgments and estimates, in conformity with International Financial Reporting
Standards (IFRS) and the requirements of the Tanzanian Companies Act, 2002. The Directors are of the opinion that the financial
statements give a true and fair view of the state of the financial affairs of the Company and its profit in accordance with International
Financial Reporting Standards (IFRS).
The Directors further accept responsibility for the maintenance of accounting records that may be relied upon in the preparation of
financial statements, as well as adequate systems of internal financial control.
Nothing has come to the attention of the Directors to indicate that the Company will not remain a going concern for at least twelve
months from the date of this statement.
Name: RUTH ZAIPUNA Title: DIRECTOR Signature: .
Date: April 2023

Declaration Of The Head Of Finance

For The Year Ended 31 December 2022
The National Board of Accountants and Auditors (NBAA) according to the powers conferred to it under the Auditors and Accountants
(Registration) Act No. 33 of 1972, as amended by Act No. 2 of 1995, requires financial statements to be accompanied by a declaration
issued by the Head of Finance responsible for the preparation of financial statements of the entity concerned.
It is the duty of a Professional Accountant to assist the Board of Directors to discharge the responsibility of preparing financial
statements of an entity showing a true and fair view of the entity’s position and performance in accordance with International
Financial Reporting Standards and the requirements of the Tanzanian Companies Act, CAP 212 Act No. 12 of 2002. Full legal
responsibility for the preparation of financial statements rests with the Board of Directors as stated under the Statement of Directors’
Responsibilities on page 90.
I Tumaini Ishemo, being the Chief Accountant representing the Head of Finance of Tanzania Portland Cement Public Limited Company
hereby acknowledge my responsibility of ensuring that the financial statements for the year ended 31 December 2022 have been
prepared in compliance with International Financial Reporting Standards and the requirements of the Tanzanian Companies Act, 2002.
I thus confirm that the financial statements give a true and fair view of the financial position and results of Tanzania Portland Cement
Public Limited Company as on that date and for the year then ended and that the financial statements have been prepared based on
properly maintained financial records.
Signed by: ..
Position: CHIEF ACCOUNTANT ..
NBAA Membership No. ACPA 2733
Date: April 2023

Independent Auditor’s Report
Report on the audit of the financial statements

Our opinion Basis for opinion
In our opinion, the financial statements give a true and fair view of We conducted our audit in accordance with International
the financial position of Tanzania Portland Cement Public Limited Standards on Auditing (ISAs). Our responsibilities under those
Company (the Company) as at 31 December 2022, and of its standards are further described in the Auditor’s responsibilities
financial performance and its cash flows for the year then ended in for the audit of the financial statements section of our report.
accordance with International Financial Reporting Standards and We believe that the audit evidence we have obtained is sufficient
the requirements of the Companies Act, No. 12 of 2002. and appropriate to provide a basis for our opinion.
What we have audited Independence

The financial statements of Tanzania Portland Cement Public We are independent of the Company in accordance with the
Limited Company as set out on pages 98 to 142 comprise: International Code of Ethics for Professional Accountants
• statement of financial position as at 31 December 2022; (including International Independence Standards) issued by the
• statement of profit or loss and other comprehensive income International Ethics Standards Board for Accountants (IESBA
for the year then ended; Code) and the ethical requirements of the National Board of
• statement of changes in equity for the year then ended; Accountants and Auditors (NBAA) that are relevant to our audit
• statement of cash flows for the year then ended; and of the financial statements in Tanzania. We have fulfilled our
• the notes to the financial statements, which include significant other ethical responsibilities in accordance with the IESBA Code
accounting policies and other explanatory information. and the ethical requirements of the NBAA.
Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial
statements of the current period. These matters were addressed in the context of our audit of the Company financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
Key audit matter How our audit addressed the key audit matter
Unresolved tax matters and contingent liabilities We tested management’s process for identification and
Tax positions were significant to our audit because the evaluation of tax exposures from TRA assessments.
assessment process involves judgement in the interpretation We examined a list of open tax matters and tax assessments
and application of tax laws and in assessing tax liabilities and by TRA as at 31 December 2022.
contingencies that could arise from tax audits.
We tested the completeness of the list by examining the
The Company has significant unresolved tax matters with minutes of the board meetings and legal correspondences
the Tanzania Revenue Authority (TRA) whose outcomes are between the company and its lawyers.
dependent on future events. The total amount of tax assessed
is TZS 59.2 billion of which TZS 13 billion has been provided for We examined the correspondence between Management and
on the financial statements. the Tanzania Revenue Authority.
With the assistance of internal and external experts, the We obtained and assessed advice from management expert
directors exercise significant judgement in assessing the that was applied by management to assess the level of
possible outcomes of the unresolved matters for financial provisioning required and the tax objections filed thereon.
reporting purposes at the year-end.
We reviewed the provisions for tax exposures based on
The actual future outcomes of these matters could be management’s assessment and the advice provided by the
materially different from the directors’ judgement at the year- company’s tax advisor.
end.
We have evaluated the reasonableness of the management
Further information is provided in Note 6, Note 33(b) and note judgement and assessed the adequacy of the disclosures made
39. in the financial statements in relation to contingent liabilities
and significant judgement applied by directors.

going concern, disclosing, as applicable, matters related to going

Other information
concern and using the going concern basis of accounting unless
The directors are responsible for the other information. The other
the directors either intend to liquidate the Company or to cease
information comprises Company information, Report by Those
operations, or have no realistic alternative but to do so.
Charged With Governance, Statement of Directors’ responsibilities
The directors are responsible for overseeing the Company’s
and Declaration of the head of finance (but does not include the
financial reporting process.
financial statements and our auditor’s report thereon), which we
obtained prior to the date of this auditor’s report, and Financial
Auditor’s responsibilities for the audit of the
highlights, letter of transmittal, Chairman’s statement, Managing
financial statements
director’s report, Directors’ Bibliography, Key management
personnel, Corporate social responsibility and proxy form, which
Our objectives are to obtain reasonable assurance about whether
is expected to be made available to us after that date.
the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an
Our opinion on the financial statements does not cover the other
auditor’s report that includes our opinion. Reasonable assurance
information and we do not and will not express any form of
is a high level of assurance, but is not a guarantee that an audit
assurance conclusion thereon.
conducted in accordance with ISAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud
In connection with our audit of the financial statements, our
or error and are considered material if, individually or in the
responsibility is to read the other information identified above
aggregate, they could reasonably be expected to influence the
and, in doing so, consider whether the other information is
economic decisions of users taken on the basis of these financial
materially inconsistent with the financial statements or our
statements.
knowledge obtained in the audit, or otherwise appears to be
materially misstated.
As part of an audit in accordance with ISAs, we exercise
professional judgement and maintain professional scepticism
If, based on the work we have performed on the other
throughout the audit. We also:
information that we obtained prior to the date of this auditor’s
• Identify and assess the risks of material misstatement of the
report, we conclude that there is a material misstatement of this
financial statements, whether due to fraud or error, design
other information, we are required to report that fact. We have
and perform audit procedures responsive to those risks, and
nothing to report in this regard.
obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a
When we read Financial highlights, letter of transmittal,
material misstatement resulting from fraud is higher than
Chairman’s statement, Managing director’s report, Directors’
for one resulting from error, as fraud may involve collusion,
Bibliography, Key management personnel, Corporate social
forgery, intentional omissions, misrepresentations, or the
responsibility and proxy form, if we conclude that there is a
override of internal control.
material misstatement therein, we are required to communicate
• Obtain an understanding of internal control relevant to
the matter to those charged with governance.
the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of
Responsibilities of the directors for the
expressing an opinion on the effectiveness of the Company’s
financial statements
internal control.
• Evaluate the appropriateness of accounting policies used
The directors are responsible for the preparation of financial
and the reasonableness of accounting estimates and related
statements that give a true and fair view in accordance with
disclosures made by the directors.
International Financial Reporting Standards and the requirements
of the Companies Act, No. 12 of 2002, and for such internal
control as the directors determine is necessary to enable the
preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are

responsible for assessing the Company’s ability to continue as a

Report on the audit of the financial statements

Auditor’s responsibilities for the audit of Report on other legal and regulatory
the financial statements Continued requirements
• Conclude on the appropriateness of the directors’ use of the This report, including the opinion, has been prepared for, and only
going concern basis of accounting and, based on the audit for, the company’s members as a body in accordance with the
evidence obtained, whether a material uncertainty exists Companies Act, No. 12 of 2002, and for no other purposes.
related to events or conditions that may cast significant
doubt on the Company’s ability to continue as a going As required by the Companies Act, No. 12 of 2002 we are also
concern. If we conclude that a material uncertainty exists, required to report to you if, in our opinion, the Directors’ Report is
we are required to draw attention in our auditor’s report not consistent with the financial statements, if the company has
to the related disclosures in the financial statements or, if not kept proper accounting records, if the financial statements
such disclosures are inadequate, to modify our opinion. Our are not in agreement with the accounting records, if we have
conclusions are based on the audit evidence obtained up to not received all the information and explanations we require
the date of our auditor’s report. However, future events or for our audit, or if information specified by law regarding
conditions may cause the Company to cease to continue as directors’ remuneration and transactions with the company is not
a going concern. disclosed. In respect of the foregoing requirements, we have no
• Evaluate the overall presentation, structure and content matter to report.
of the financial statements, including the disclosures, and
whether the financial statements represent the underlying
transactions and events in a manner that achieves fair
presentation. Cletus Kiyuga, ACPA-PP
For and on behalf of PricewaterhouseCoopers
We communicate with the directors regarding, among other Certified Public Accountants
matters, the planned scope and timing of the audit and Dar es Salaam
significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
Date: May 2023
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all
relationships and other matters that may reasonably be thought
to bear on our independence, and where applicable, action taken
to eliminate threats or safeguards applied.
From the matters communicated with the directors, we determine

those matters that were of most significance in the audit of the
financial statements of the current period and are therefore the
key audit matters. We describe these matters in our auditor’s
report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our
report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits
of such communication.


Next Section:
Financial
Statements

In the Section
Statement Of Profit Or Loss And Other

102
Comprehensive Income
Statement Of Financial Position 103
Statement Of Changes In Equity 104
Statement Of Cash Flows 105
Notes to the Financial Statements 106

Statement Of Profit Or Loss And Other Comprehensive

Income
Figures in TZS ‘000 Notes 2022 2021
Revenue from contracts with customers 7 494,716,182 449,509,301
Cost of sales 9 (328,592,344) (293,185,036)

Gross profit 166,123,838 156,324,265
Other operating income 8 841,677 1,205,920
Selling and marketing costs 10 (3,082,702) (3,010,835)

Administrative costs 11 (25,216,626) (23,514,168)
Other operating expenses 14 (2,727,675) (5,423,601)

Operating profit 135,938,512 125,581,581
Finance income 15 3,139,579 3,258,481
Finance costs 16 (810,519) (611,279)

Net gain/(loss) on foreign currency translation 17 1,829,994 (191,595)
Profit before tax 140,097,566 128,037,188
Income tax expense 32 (42,738,964) (39,555,603)
Profit for the year 97,358,602 88,481,585
Other comprehensive income
Other comprehensive income not to be reclassified to

profit or loss in subsequent periods:
Re-measurement gain/(losses) on defined benefit plan 29 448,834 (1,538,346)
Income tax effect 32 (134,650) 461,504

Other comprehensive income for the year, net of tax 314,184 (1,076,842)
Total comprehensive income for the year, net of tax 97,672,786 87,404,743
Earnings per share
Basic and diluted earnings per share (TZS) 40 541 492

Statement Of Financial Position

Assets
Non-current assets
Property, plant, and equipment 18 142,330,100 144,842,101

Intangible asset 19 813,318 1,006,537
Leasehold land 20 980,929 1,008,775
Right of use assets 21 4,333,991 982,483

Non-current financial assets 25 574,000 796,000
149,032,338 148,635,896
Current assets
Inventories 22 85,992,840 52,935,488
Trade receivables 23 53,561,114 46,277,317
Other short-term operating receivables 24 24,193,735 16,586,868

Other current financial assets 25 600,000 600,000
Cash and bank balances 26 105,512,644 114,278,364
269,860,333 230,678,037
Total Assets 418,892,671 379,313,933
Equity And Liabilities

Equity
Issued capital 27 3,598,462 3,598,462

Retained earnings 296,139,811 268,637,039
299,738,273 272,235,501
Non-current liabilities
Lease liabilities 28 1,149,572 186,758
Employment benefit liabilities 29 5,339,322 5,306,943
Provision for quarry site restoration 31 4,266,311 2,432,541

Deferred income tax liability 32 10,066,585 11,618,859
20,821,790 19,545,101
Current liabilities
Lease liabilities 28 3,461,375 1,044,405
Current income tax payable 32 521,690 28,859
Trade and other payables 33(a) 78,394,395 70,281,721

Provisions 33(b) 13,049,775 13,329,878
Dividend payable 37 2,905,373 2,848,468
98,332,608 87,533,331
Total Equity And Liabilities 418,892,671 379,313,933

Statement Of Changes In Equity

Share Capital and Share
Retained earnings Total Equity
Figures in TZS’000 Premium (Note 27)
As at 01 January 2022 3,598,462 268,637,039 272,235,501
Profit for the year - 97,358,602 97,358,602

Other comprehensive income, net of tax - 314,184 314,184
Total comprehensive income, net of tax for the year 97,672,786 97,672,786
Transactions with owners in their capacity as

owners:
Dividends approved (Note 36) (70,170,014) (70,170,014)
As at 31 December 2022 3,598,462 296,139,811 299,738,273
As at 01 January 2021 3,598,462 251,402,305 255,000,767
Profit for the year - 88,481,585 88,481,585

Other comprehensive income, net of tax - (1,076,842) (1,076,842)
Total comprehensive income, net of tax for the year 87,404,743 87,404,743
Transactions with owners in their capacity as

owners:
Dividends approved (Note 36) (70,170,009) (70,170,009)
As at 31 December 2021 3,598,462 268,637,039 272,235,501
These financial statements were authorised for issue in accordance with a resolution of the Board of directors passed on ____ April
2023 and were signed on its behalf by:

Statement Of Cash Flows
Figures in TZS’000 Notes 2022 2021

Operating activities
Profit before tax 140,097,566 128,037,188

Adjustment to reconcile profit before tax to net cash flows:
Depreciation and amortisation 12 20,645,407 18,666,314

Interest expense 28 & 29 1,255,581 1,040,904
Interest income 15 (3,139,579) (3,258,481)

Net unrealised exchange gain/(loss) – Cash and bank effect 17 (801,765) 620,896
Net provision for obsolete inventories 22 971,658 2,058,943

Increase in site restoration provision 31 1,833,770 157,519
Post-employment benefit provision 29 300,810 226,950

(Decrease)/increase in other provisions 33(b) (280,104) 2,915,814
Expected credit losses for trade receivables 23 (339,944) (421,078)

Gain on disposal of property, plant, and equipment 8 - (46,610)
Cash flows before changes in working capital items 160,543,400 149,998,359
Working capital adjustments:

Increase in inventories 22 (34,029,010) (1,841,963)
Increase in trade receivables 23 (6,943,853) (4,765,323)

Increase in other short-term operating receivables 24 (7,606,944) (2,105,812)
Decrease in other financial assets 25 222,000 550,000

Increase in trade and other payables 33(a) 8,112,674 11,935,589
Corporation tax paid 32 (43,932,977) (42,733,839)

Payment to post-employment benefit - Benefit payments 29 (264,659) (950,058)
Interest received 15 3,139,579 3,253,460

Net cash inflows from operating activities 79,240,210 113,340,413
Investing activities
Proceeds from disposal of property, plant, and equipment (PPE) 18 - 46,610
Payment for capital works-in-progress and PPE 18 (14,611,038) (27,828,267)

Net cash flows used in investing activities (14,611,038) (27,781,657)
Financing activities
Dividends paid 37 (70,113,111) (70,178,004)
Payment of liabilities - principal and interest 28 (4,083,546) (4,337,262)

Net cash flows used in financing activities (74,196,657) (74,515,266)
Net (decrease)/increase in cash and cash equivalents (9,567,485) 11,043,490
Net unrealised exchange (gain)/loss 801,765 (620,896)

Cash and cash equivalents at 01 January 26 114,278,364 103,855,770
Cash and cash equivalent at 31 December 26 105,512,644 114,278,364

Notes to the Financial Statements

for the Year Ended 31 December 2022
1. Corporate Information 3. Significant Accounting Policies

The financial statements of Tanzania Portland Cement Public The principal accounting policies applied in the preparation
Limited Company (‘the Company’) for the year ended 31 of these financial statements are set out below. These policies
December 2022 were authorized for issue in accordance with have been consistently applied to all the years presented unless
a resolution of the Directors as indicated on the statement of otherwise stated.
financial position. The Company is a Public Limited Company
incorporated and domiciled in Tanzania. The Company’s shares a) Revenue recognition
are publicly traded. The registered office is located at Wazo Hill,
Revenue represents income arising in the course of an entity’s
Dar es Salaam.
ordinary activities, which leads to an increase in economic
benefits during the accounting period. Revenue from contracts
The principal activities of the Company are disclosed in the
with customers is recognised when control of the goods or
Report by those charged with governance. Information on its
services is transferred to the customer at an amount that
holding Company is provided in Note 38.
reflects the consideration to which the Company expects to be
2. Basis Of Preparation entitled in exchange for those goods or services. The Company
The financial statements have been prepared on a historical cost has generally concluded that it is the principal in its revenue
basis, except when stated otherwise. The financial statements are arrangwements because it typically controls the goods or
presented in Tanzanian Shillings (TZS) and all values are rounded services before transferring them to the customer. Revenue is
to the nearest thousand (TZS ‘000’), except when otherwise stated net of value-added tax (VAT).
indicated. These financial statements cover the year ended 31
December 2022. Revenue is primarily derived from the sale of cement to
distributors. Revenue is recognised at the point in time when
Statement of compliance control of the goods is transferred to the customer, generally on
The financial statements of the Company have been prepared delivery of the goods or collection of cement by customers at the
in accordance with International Financial Reporting Standards Company’s premises.
(IFRS) as issued by the International Accounting Standards
Board (IASB) and comply with the Tanzanian Companies Act, The five-step model stipulated in IFRS 15 Revenue from contracts
2002. with customers is applied when accounting for revenue from
contracts with customers. The Company accounts for a revenue
Going Concern contract with a customer only when all the following criteria are
The Company has prepared the Financial Statements on the met:
basis that it will continue to operate as a going concern.
• The parties to the contract have approved the contract
(in writing, orally, or in accordance with other customary
business practices) and are committed to performing their
respective obligations;
• The Company can identify each party’s rights regarding the
goods or services to be transferred;
• The Company can identify the payment terms for the goods
or services to be transferred;
• The contract has commercial substance (i.e., the risk, timing,
or amount of future cash flows is expected to change as a
result of the contract); and
• It is probable that the Company will collect the consideration
to which it will be entitled in exchange for the goods or
services that will be transferred to the customer.
The Company considers whether there are other promises in the

contract that are separate performance obligations to which
a portion of the transaction price needs to be allocated (e.g.,

warranties, and customer loyalty points). In determining the measured at fair value in a foreign currency are translated using
transaction price for the sale of goods, the Company considers the exchange rates at the date when the fair value is determined.
the effects of variable consideration, the existence of significant
financing components, noncash consideration, and consideration In determining the spot exchange rate to use on initial
payable to the customer, if any. Currently, the Company does not recognition of the related asset, expense, or income (or part of it)
sell cement to customers or have contracts with customers that on the derecognition of a non-monetary asset or non-monetary
have significant financing components. liability relating to advance consideration, the date of the
transaction is the date on which the Company initially recognises
Contract balances
the non-monetary asset or non-monetary liability arising from the
Trade receivables advance consideration. If there are multiple payments or receipts
A receivable represents the Company’s right to an amount of in advance, the Company determines the transaction date for
consideration that is unconditional (i.e., only the passage of time each payment or receipt of advance consideration.
is required before payment of the consideration is due). Refer to
the accounting policies on financial assets.
Contract liabilities
A contract liability is an obligation to transfer goods or
services to a customer for which the Company has received
consideration (or an amount of consideration is due) from the
customer. If a customer pays consideration before the Company
transfers goods or services to the customer, a contract liability
is recognised when the payment is made, or the payment is
due (whichever is earlier). Contract liabilities are recognised as
revenue when the Company performs under the contract. The
Company’s contract liabilities consist of advance deposits from
customers for cement sales.
Cost to obtain a contract.

The Company defers and amortises these costs over the period
of the contract.
b) Foreign currency translation

Functional and presentation currency
The financial statements are presented in Tanzanian Shillings
(TZS), which is the Company’s functional and presentation
currency.
Transactions and balances

Transactions in foreign currencies are initially recorded by the
Company at their respective functional currency rates prevailing
at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies

are retranslated at the functional currency spot rate of exchange
ruling at the reporting date. All differences are taken to profit or
loss.
Non-monetary items that are measured in terms of historical
cost in a foreign currency are translated using the exchange rates
as at the date of the initial transaction. Non-monetary items


for the Year Ended 31 December 2022 Continued
3. Significant Accounting Policies
Continued
Where there is a significant interval between the time at which
c) Property, plant, and equipment
cost is incurred in connection with the acquisition of an asset and
Property, plant, and equipment are stated at cost, net of when the asset will be ready for use, the cost is accumulated in
accumulated depreciation, and accumulated impairment losses, capital work-in-progress. At the time the asset is ready for use,
if any. Such cost includes the cost of any replacing part of the the accumulated cost is to be transferred to the appropriate
property, plant, and equipment when that cost is incurred if the category, and depreciation starts. Capital work-in-progress is not
recognition criteria are met. All other repair and maintenance depreciated, since by the definition it is not yet ready for use.
costs are recognised in profit and loss as incurred. Depreciation
is calculated on a straight-line basis over the estimated useful life d) Capital items in stock
of the assets. The annual rates of depreciation thwat have been
consistently applied are: Spare parts and servicing equipment are classified as Property,
Plant, and Equipment rather than inventory when they meet the
Description Rate (%) definition of Property, Plant, and Equipment, with a useful life
of more than 5 years and a value of more than TZS 140 million.
Buildings and roadsw 4.0
They are measured on cost less depreciation and provision for
Production machinery and equipment: (Factory impairment.
5.0 – 10.0
plant and machinery)
e) Intangible assets
Production machinery and equipment (Quarry
25.0 The Company’s intangible assets include the value of computer
plant and machinery)
software and mining rights for the limestone quarry. Mining rights
Other equipment (Furniture, equipment, and are rights to extract limestone from the land that belongs to the
12.5
fixtures) government. The Company pays the cost of the mining rights at
the inception of the contract in advance and amortizes over the
Other equipment (Motor vehicles) 25.0
life of the contract or units of production giving mining rights.
Other equipment (Computer hardware) 33.3 Intangible assets acquired are measured on initial recognition at
cost. Following initial recognition, intangible assets are carried
An item of property, plant, and equipment and any significant at cost less any accumulated amortisation and any accumulated
part initially recognised is derecognised upon disposal or when no impairment losses.
future economic benefits are expected from its use or disposal.
Any gain or loss arising from the de-recognition of the asset The useful lives of intangible assets are assessed to be finite.
(calculated as the difference between the net disposal proceeds Intangible assets with finite lives are amortised over the useful
and the carrying amount of the asset) is included in the profit or economic life and assessed for impairment whenever there is an
loss when the asset is derecognised. The asset is derecognised indication that the intangible asset may be impaired. The annual
once control has been transferred to the buyer. rate of amortisation that has been consistently applied is 20% –
50%. The amortisation period and the amortisation method for
The assets’ residual values, useful lives, and depreciation intangible assets are reviewed at least at each financial year-
methods are reviewed and adjusted prospectively, if appropriate, end. Changes in the expected useful life or the expected pattern
at each financial year-end. of consumption of future economic benefits embodied in the
asset are accounted for by changing the amortisation period or
Capital work-in-progress. method, as appropriate, and treated as changes in accounting
estimates. The amortisation expense on intangible assets is
Capital work-in-progress includes accumulated cost of property,
recognised in profit or loss.
plant, and equipment which is under construction or for which
cost has been incurred, but which is not yet ready for use by
An intangible asset is derecognised upon disposal (i.e., at the
the Company. It also includes costs incurred for assets being
date the recipient obtains control) or when no future economic
constructed by third parties, assets that have not been delivered
benefits are expected from its use or disposal. Gains or losses
to or installed in the facility, and assets which cannot be used
arising from the de-recognition of an intangible asset are
until certain other assets are acquired and installed.

measured as the difference between the net disposal proceeds Net realisable value is the estimated selling price in the ordinary
and the carrying amount of the asset and are recognised in profit course of business, less applicable variable selling expenses.
or loss when the asset is derecognised.
h) Financial Instruments
f) Impairment of non-financial assets
A financial instrument is any contract that gives rise to a financial
The Company assesses at each reporting date whether there asset of one entity and a financial liability or equity instrument of
is an indication that an asset may be impaired. If any such another entity.
indication exists, or when annual impairment testing for an
i) Financial assets
asset is required, the Company estimates the asset’s recoverable
amount. An asset’s recoverable amount is the higher of an asset’s Initial recognition and measurement
or cash-generating unit’s (CGU) fair value less costs of disposal Financial assets are classified, at initial recognition, as
and value in use. A cash-generating unit is a small identifiable subsequently measured at amortised cost, fair value through
group of assets that generates cash inflows that are largely other comprehensive income (OCI), and fair value through profit
independent of the cash inflows from other assets or group of or loss.
assets. The recoverable amount is determined for an individual
asset unless the asset does not generate cash inflows that are The classification of financial assets at initial recognition depends
largely independent of those from other assets or groups of on the financial asset’s contractual cash flow characteristics and
assets. If this is the case, the recoverable amount is determined the Company’s business model for managing them. With the
for the cash-generating unit to which the asset belongs, unless exception of trade receivables that do not contain a significant
either the asset’s fair value less cost of disposal is higher than its financing component or for which the Company has applied
carrying amounts or the asset’s value in use can be estimated to the practical expedient, the Company initially measures a
be close to its fair value less costs of disposal and fair value less financial asset at its fair value plus, in the case of a financial
costs of disposal can be determined. asset not at fair value through profit or loss, transaction costs.
Trade receivables that do not contain a significant financing
Where the carrying amount of an asset or CGU exceeds its component or for which the Company has applied the practical
recoverable amount, the asset is considered impaired and is expedient are measured at the transaction price determined
written down to its recoverable amount. In assessing value in use, under IFRS 15. Refer to the accounting policies in section (a)
the estimated future cash flows are discounted to their present Revenue recognition.
value using pre-tax discount rates that reflect current market
assessments of the time value of money and the risks specific to In order for a financial asset to be classified and measured at
the assets. amortised cost or fair value through OCI, it needs to give rise
to cash flows that are ‘solely payments of principal and interest
In determining fair value less costs of disposal, recent market (SPPI)’ on the principal amount outstanding. This assessment is
transactions are taken into account, if available. If no such referred to as the SPPI test and is performed at an instrument
transaction can be identified, and the appropriate valuation level.
model is used value in use is determined using budgets.
The Company’s business model for managing financial assets
refers to how it manages its financial assets in order to generate
g) Inventories
cash flows. The business model determines whether cash flows
Inventories are stated at the lower of cost and net realisable will result from collecting contractual cash flows, selling financial
value. Costs incurred in bringing each product to its present assets, or both.
location and condition, are accounted for as follows:
Purchases or sales of financial assets that require delivery
• Raw materials – purchase cost on a weighted average basis. of assets within a time frame established by regulation or
• Finished goods and work in progress – the cost of direct convention in the marketplace (regular way trades) are
materials and labour and a proportion of manufacturing recognised on the trade date, i.e., the date that the Company
overheads based on normal capacity but excluding commits to purchase or sell the asset.
borrowing costs.



Continued
expired,or
i) Financial assets Continued • The Company has transferred its rights to receive cash
As at the year-end, the financial assets of the company included flows from the asset or has assumed an obligation to pay
cash and cash equivalents, trade receivables, and other financial the received cash flows in full without material delay to a
assets; all classified as assets held to collect and therefore third party under a ‘pass-through’ arrangement and either
measured at amortised cost. (a) the Company has transferred substantially all the risks
and rewards of the asset, or (b) the Company has neither
Subsequent measurement transferred nor retained substantially all the risks and
For purposes of subsequent measurement, financial assets are rewards of the asset but has transferred control of the asset.
classified into four categories: When the Company has transferred its rights to receive
cash flows from an asset or has entered into a pass-through
• Financial assets at amortised cost (debt instruments)
arrangement, it evaluates if, and to what extent, it has
• Financial assets at fair value through OCI with the recycling
retained the risks and rewards of ownership. When it has
of cumulative gains and losses (debt instruments)
neither transferred nor retained substantially all of the risks
• Financial assets designated at fair value through OCI
and rewards of the asset nor transferred control of the asset,
with no recycling of cumulative gains and losses upon
the Company continues to recognise the transferred asset
derecognition (equity instruments)
to the extent of its continuing involvement. In that case,
• Financial assets at fair value through profit or loss.
the Company also recognises an associated liability. The
Financial assets at amortised cost (debt transferred asset and the associated liability are measured
instruments) on a basis that reflects the rights and obligations that the
Company has retained.
This category is the most relevant to the Company. The Company
measures financial assets at amortised cost if both of the Continuing involvement that takes the form of a guarantee over
following conditions are met: the transferred asset is measured at the lower of the original
carrying amount of the asset and the maximum amount of
• The financial asset is held within a business model with
consideration that the Company could be required to repay.
the objective to hold financial assets in order to collect
contractual cash flows; and
Impairment of financial assets
• The contractual terms of the financial asset give rise on
The Company recognises an allowance for expected credit losses
specified dates to cash flows that are solely payments of
(ECLs) for all debt instruments not held at fair value through
principal and interest on the principal amount outstanding.
profit or loss. ECLs are based on the difference between the
Financial assets at amortised cost (debt instrument) are contractual cash flows due in accordance with the contract
subsequently measured using the effective interest (EIR) method and all the cash flows that the Company expects to receive,
and are subject to impairment. Gains and losses are recognised discounted at an approximation of the original effective interest
in profit or loss when the asset is derecognised, modified, or rate. The expected cash flows will include cash flows from the sale
impaired. of collateral held or other credit enhancements that are integral
to the contractual terms.
The Company’s financial assets at amortised cost include trade
receivable, other short-term operating receivables bank balances, ECLs are recognised in two stages. For credit exposures for which
and other financial assets. there has not been a significant increase in credit risk since initial
recognition, ECLs are provided for credit losses that result from
Derecognition
default events that are possible within the next 12 months (a
A financial asset (or, where applicable, a part of a financial
12-month ECL). For those credit exposures for which there has
asset or part of a group of similar financial assets) is primarily
been a significant increase in credit risk since initial recognition,
derecognised (i.e., removed from the Company’s statement of
a loss allowance is required for credit losses expected over the
financial position) when:
remaining life of the exposure, irrespective of the timing of the
default (a lifetime ECL).
• The rights to receive cash flows from the asset have

For trade receivables and contract assets, the Company applies a De-recognition of financial liabilities
simplified approach in calculating ECLs. Therefore, the Company A financial liability is derecognised when the obligation under the
does not track changes in credit risk but instead recognises a liability is discharged or cancelled or expires. Where an existing
loss allowance based on lifetime ECLs at each reporting date. financial liability is replaced by another from the same lender on
The Company has established a provision matrix that is based on substantially different terms or the terms of an existing liability
its historical credit loss experience, adjusted for forward-looking are substantially modified, such an exchange or modification
factors specific to the debtors and the economic environment. is treated as a derecognising of the original liability and the
recognition of a new liability, and the difference in the respective
The Company considers a financial asset in default when carrying value is recognised in profit or loss.
contractual payments are 180 days past due. However, in
certain cases, the Company may also consider a financial i) Offsetting of financial instruments
asset to be in default when internal or external information
Financial assets and financial liabilities are offset, and the net
indicates that the Company is unlikely to receive the outstanding
amount is reported in the statement of financial position if there
contractual amounts in full before taking into account any credit
is a currently enforceable legal right to offset the recognised
enhancements held by the Company.
amounts and there is an intention to settle on a net basis, to
realise the assets and settle the liabilities simultaneously.
A financial asset is written off when there is no reasonable
j) Provisions
expectation of recovering the contractual cash flows. A gross
carrying amount will be written off when the financial assets can General
not be recovered after three years. Provisions are recognised when the Company has a present
obligation (legal or constructive) as a result of a past event, it
ii) Financial liabilities is probable that an outflow of resources embodying economic
Initial recognition and measurement benefits will be required to settle the obligation and a reliable
Financial liabilities are classified, at initial recognition, as estimate can be made of the amount of the obligation. When the
financial liabilities at fair value through profit or loss, financial Company expects some or all of a provision to be reimbursed,
liabilities at amortised cost, or as derivatives designated as for example under an insurance contract, the reimbursement is
hedging instruments in an effective hedge, as appropriate. All recognised as a separate asset but only when the reimbursement
financial liabilities are recognised initially at fair value and, in the is virtually certain. The expense relating to a provision is
case of financial liabilities at amortised cost, net of incremental presented in the profit or loss net of any reimbursement.
transaction costs.
If the effect of the time value of money is material, provisions
The Company’s financial liabilities include Interest bearing loans, are discounted using a current pre-tax rate that reflects, when
accrued expenses, trade payables, and other payables that appropriate, the risks specific to the liability. When discounting is
are financial instruments. These are all classified as financial used, the increase in the provision due to the passage of time is
liabilities at amortised cost. recognised as a finance cost.
Subsequent measurement Site restoration provision

After initial recognition, interest-bearing loans and trade and The provision for restoration represents the cost of restoring site
other payables are subsequently measured at amortised damage after the start of production. Increases or decrease in
cost using the effective interest rate method (EIR). Gains and the provision is charged to profit or loss as a cost of production.
losses are recognised in profit or loss when the liabilities are
derecognised as well as through the amortisation process. Restoration costs are estimated at the present value of the
Amortised cost is calculated by taking into account any discount expenditures expected to settle the obligation, using estimated
or premium on acquisition and fees or costs that are an integral cash flows based on current prices. The estimates are discounted
part of the EIR. The EIR amortisation is included in the finance at a pre-tax rate that reflects current market assessments of the
costs in the statement of comprehensive income. time value of money and risks specific to the liability. The
estimated future costs of site restoration are reviewed annually
and adjusted as appropriate.



Continued
Post-employment benefits
j) Provisions Continued Under defined benefit plans, the Company provides certain
Onerous contracts post-employment benefits at retirement. The expected costs of
An onerous contract is a contract under which the unavoidable these benefits are accrued over the period of employment and
costs (i.e., the costs that the Company cannot avoid because it the present value of the obligation is determined by reference
has the contract) of meeting the obligations under the contract to market yields on high-quality corporate bonds, where there is
exceed the economic benefits expected to be received under it. no deep market in such bonds, the market yields on government
The unavoidable costs under a contract reflect the least net cost bonds are used at the end of the reporting period. (See also
of exiting from the contract, which is the lower of cost of fulfilling note 5 Significant Accounting Judgements, estimates and
it and any compensation or penalties arising from failure to assumptions - Pension Obligations).
fulfil it. The cost of fulfilling a contract comprises the costs that
Long-service employment benefits (other long-term employee
relate directly to the contract (i.e., both incremental costs and an
benefits)
allocation of costs directly related to contract activities).
Under this defined benefit plan, the Company provides benefits
If the Company has a contract that is onerous, the present in the form of cement at certain milestones during the period of
obligation under the contract is recognised and measured as a employment.
provision. However, before a separate provision for an onerous
contract is established, the Company recognises any impairment The expected costs of these benefits are accrued over the
loss that has occurred on assets dedicated to that contract. period of employment and the present value of the obligation
is determined by reference to market yields on high-quality
The Company did not have any onerous contracts during the corporate bonds, where there is no deep market in such bonds,
year. the market yields on government bonds are used at the end of
the reporting period.
k) Pensions and other employment benefits
The Company operates defined contribution plans and defined These benefits are unfunded. The cost of providing benefits under
benefit plans. the defined benefit plan is determined using the projected unit
Pension obligations credit method. Re-measurements, comprising of actuarial gains
Under defined contribution plans, the Company’s employees are and losses are recognised immediately in other comprehensive
members of state-owned pension schemes, and the National income in the period in which they occur. Re-measurements are
Social Security Fund (NSSF). The Company contributes 10% of not reclassified to profit or loss in subsequent periods.
basic salary for each employee who is a member of NSSF, while Past service costs are recognised in profit or loss on the earlier of
the employees contribute 10% respectively. The Company’s date of the plan amendment or curtailment, and the date that the
contributions to the funds are charged to profit or loss in the year Company recognises related restructuring costs.
to which they relate.
Interest is calculated by applying the discount rate to the defined
Endowment scheme benefit liability. The Company recognises the following changes
The Company has an endowment scheme administered by the in the defined benefit obligation in the statement of profit or loss
Jubilee Insurance Company of Tanzania Limited. This scheme is (by function):
a defined contribution plan. The cost of the endowment scheme • Service costs comprising current service costs, past-service
is fully met by the Company, and it has no further obligations to costs, gains and losses on curtailments, and non-routine
the scheme. settlements
• Interest expense
Other short-term benefits
The Company maintains a medical insurance policy for its Key assumptions and sensitivity analysis are disclosed under
staff which covers staff and their immediate dependants. The Note 29.
entitlement is recognised through profit or loss under employee
expenses. The Company does not have any further obligation
after contributions have been made.

l) Taxes • In respect of deductible temporary differences associated

with investments in subsidiaries, associates and interests
Current tax
in joint ventures, deferred tax assets are recognised only to
Current income tax assets and liabilities for the current period are the extent that it is probable that the temporary differences
measured at the amount expected to be recovered from, or paid will reverse in the foreseeable future and taxable profit will
to, the taxation authorities. The tax rates and tax laws used to be available against which the temporary differences can
compute the amount are those that are enacted or substantively be utilised.The carrying amount of deferred tax assets is
enacted at the reporting date. reviewed at each reporting date and reduced to the extent
that it is no longer probable that sufficient taxable profit
Current income tax relating to items recognised outside profit will be available to allow all or part of the deferred tax
or loss is recognised outside profit or loss in correlation to the asset to be utilised. At the end of each reporting period, the
underlying transaction either in other comprehensive income or Company reassesses unrecognised deferred tax assets. The
directly in equity. Management periodically evaluates positions Company recognises a previously unrecognised deferred
taken in the tax returns with respect to situations in which tax asset to the extent that it has become probable that
applicable tax regulations are subject to interpretation and future taxable profit will allow the deferred tax asset to be
establishes provisions where appropriate. recovered.Deferred tax assets and liabilities are measured
at the tax rates that are expected to apply in the year when
Deferred tax
the asset is realised or the liability is settled, based on tax
Deferred tax is provided using the liability method on temporary rates (and tax laws) that have been enacted or substantively
differences between the tax bases of assets and liabilities and enacted at the reporting date.Current tax and deferred tax
their carrying amounts for financial reporting purposes at the relating to items recognised directly in other comprehensive
reporting date. income or equity are also recognised in other comprehensive
income or equity and not in profit or loss.Deferred tax assets
Deferred tax liabilities are recognised for all taxable temporary and deferred tax liabilities are offset if a legally enforceable
differences, except: right exists to set off current tax assets against current tax
liabilities and the deferred taxes relate to the same taxable
• When the deferred tax liability arises from the initial entity and the same taxation authority.
recognition of goodwill or an asset or liability in a
Value-added tax
transaction that is not a business combination and, at the
Revenues, expenses, and assets are recognised net of the amount
time of the transaction, affects neither the accounting profit
of Value Added Tax, except:
nor taxable profit or loss.
• In respect of taxable temporary differences associated with • Where the Value Added Tax incurred on a purchase of assets
investments in subsidiaries, associates and interests in joint or services is not recoverable from the taxation authority,
ventures, when the timing of the reversal of the temporary in which case the Value Added Tax is recognised as part of
differences can be controlled and it is probable that the the cost of acquisition of the asset or as part of the expense
temporary differences will not reverse in the foreseeable item as applicable.
future. Deferred tax assets are recognised for all deductible • Receivables and payables that are stated with the amount of
tempo rary differences, carry forward of unused tax credits Value Added Tax included.
and unused tax losses, to the extent that it is probable that
The net amount of Value Added Tax recoverable from, or payable
taxable profit will be available against which the deductible
to, the taxation authority is included as part of receivables or
temporary differences and the carry forward of unused tax
payables in the statement of financial position.
credits and unused tax losses can be utilised, except:When
the deferred tax asset relating to the deductible m) Royalty
temporary difference arises from the initial recognition
A royalty fee is a fixed charge paid to the government on annual
of an asset or liability in a transaction that is not a business
basis based on the unit of minerals extracted by the Company.
combination and, at the time of the transaction, affects
The annual fee paid depends on material extracted during a
neither the accounting profit nor taxable profit or loss.
particular month.


Continued
labour cost; variable costs such as power, materials, handling,
n) Dividend distribution
and distribution cost. Costs are allocated based on cost centres,
Dividend distribution to the shareholders is charged to equity and expenses allocated to cost of sales are those which are within
recognised as a liability in the Company’s financial statements in technical, mechanical, and production cost centres.
the period in which they are declared, and after being approved
p) Leases
by the shareholders at the Annual General Meeting.
The Company assesses at contract inception whether a contract
is or contains a lease. That is if the contract conveys the right
Dividend withholding tax
to control the use of an identified asset for a period of time in
Dividend withholding tax is payable at a rate of 5% on dividends
exchange for consideration.
distributed to shareholders. This tax is not attributable to the
Company paying the dividend but is collected by the Company The company as a lessee
and paid to the tax authorities on behalf of the shareholder. The Company applies a single recognition and measurement
approach for all leases, except for short-term leases and leases
o) Current versus non-current classification
of low-value assets. The Company recognizes lease liabilities to
The Company present assets and liabilities in the statement of make lease payments and right-of-use assets representing the
financial position based on current/non-current classification. An right to use the underlying assets.
asset is current when it is either:
• Expected to be realised or intended to be sold or consumed Right-of-use assets
in the normal operating cycle. The Company recognizes right-of-use assets at the
• Held primarily for the purpose of trading. commencement date of the lease (i.e., the date the underlying
• Expected to be realised within 12 months after the reporting asset is available for use). Right-of-use assets are measured at
period. cost, less any accumulated depreciation and impairment losses,
• Cash or cash equivalent unless restricted from being and adjusted for any remeasurement of lease liabilities. The cost
exchanged or used to settle a liability for at least 12 months of right-of-use assets includes the amount of lease liabilities
after the reporting period. recognized, initial direct costs incurred, and lease payments
made at or before the commencement date less any lease
All other assets are classified as non-current. incentives received. Right-of-use assets are depreciated on a
straight-line basis over the shorter of the useful life of the asset
A liability is current when either:
and lease term.
• It is expected to be settled in the normal operating cycle.
• It is held primarily for the purpose of trading.
The right-of-use assets are subject to impairment in line with the
• It is due to be settled within 12 months after the reporting
Company’s policy for impairment of non-financial assets.
period.

• There is no unconditional right to defer the settlement of the
The useful life of the Company’s right-of-use asset is as follows:
liability for at least 12 months after the reporting period.
• Quarry equipment – 3.25 years
• Factory land – 99 years
The Company classify all other liabilities as non-current.
Lease liabilities
Deferred tax assets and liabilities are classified as non-current At the commencement date of the lease, the Company
assets and liabilities. recognizes lease liabilities measured at the present value of
lease payments to be made over the lease term. The lease
p) Cost of sales
payments include fixed payments (less any lease incentives
All costs directly linked to the production, handling, and storing
receivable), variable lease payments that depend on an index or
of goods within the factory premises are classified under cost
a rate, and amounts expected to be paid under residual value
of sales. They exclude those period costs that would be incurred
guarantees. The lease payments also include the exercise price
regardless of whether the Company make any production. Cost
of a purchase option reasonably certain to be exercised by the
of sales includes carrying amounts of inventories sold during the
Company and payments of penalties for terminating the lease
period. Included in this are some fixed components like direct
if the lease term reflects exercising the option to terminate.

Variable lease payments that do not depend on an index or a

rate are recognized as expenses in the period in which the event
or condition that triggers the payment occurs.
In calculating the present value of lease payments, the Company

uses its incremental borrowing rate at the lease commencement
date because the interest rate implicit in the lease is not readily
determinable. After the commencement date, the amount of
lease liabilities is increased to reflect the accretion of interest and
reduced for the lease payments made. In addition, the carrying
amount of lease liabilities is remeasured if there is a modification,
a change in the lease term, a change in the lease payments (e.g.,
changes to future payments resulting from a change in an index
or rate used to determine such lease payments) or a change in
the assessment of an option to purchase the underlying asset.
The company as a lessor

Leases in which the Company does not transfer substantially
all the risks and rewards incidental to ownership of an asset
are classified as operating leases. Rental income arising from
operating leases is accounted for on a straight-line basis over the
lease terms and is included in other income in the statement of
profit or loss due to its operating nature.
Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption
to its short-term leases (i.e., those leases that have a lease term
of 12 months or less from the commencement date and do not
contain a purchase option). It also applies the lease of low-value
assets recognition exemption to leases that are considered to
be low value. Lease payments on short-term leases and leases
of low-value assets are recognised as expense on a straight-line
basis over the lease term.
r) Cash and bank balances

Cash and short-term deposits in the statement of financial
position comprise bank balances and time deposit accounts with
banks whose original maturities do not exceed three months and
cash on hand. For the purpose of the statement of cash flows,
cash, and cash equivalents consist of cash and bank balances as
defined above.


4. New And Amended Standards And
Interpretations
The Company applied for the first-time certain standards and The amendments had no impact on the financial statements of
amendments, which are effective for annual periods beginning the Company.
on or after 1 January 2022. The Company has not early adopted
Property, Plant, and Equipment: Proceeds before Intended
any other standard, interpretation or amendment that has been
Use – Amendments to IAS 16 - Effective for annual reporting
issued but is not yet effective.
periods beginning on or after 1 January 2022 and must be
applied retrospectively
Onerous Contracts – Costs of Fulfilling a Contract –
Amendments to IAS 37 - Effective for annual reporting In May 2020, the IASB issued Property, Plant, and Equipment
periods beginning on or after 1 January 2022 — Proceeds before Intended Use, which prohibits entities from
deducting from the cost of an item of property, plant, and
In May 2020, the IASB issued amendments to IAS 37 to specify
equipment any proceeds from selling items produced while
which costs an entity needs to include when assessing whether a
bringing that asset to the location and condition necessary
contract is onerous or loss-making.
for it to be capable of operating in the manner intended by
management. Instead, an entity recognises the proceeds from
The amendments apply a “directly related cost approach”.
selling such items, and the costs of producing those items, in
The costs that relate directly to a contract to provide goods or
profit or loss.
services include incremental costs and an allocation of costs
directly related to contract activities. General and administrative
The amendment must be applied retrospectively to items of
costs do not relate directly to an agreement and are excluded
property, plant, and equipment made available for use on or after
unless they are explicitly chargeable to the counterparty under
the beginning of the earliest period presented when the entity
the contract.
first applies the amendment.
These amendments had no impact on the financial statements of

The amendments had no impact on the financial statements of
the Company. The Company intends to use the amendments in
the Company.
future periods if they become applicable.
IFRS 9 Financial Instruments – Fees in the ’10 per cent’
Reference to the Conceptual Framework – Amendments to
test for derecognition of financial liabilities - Effective for
IFRS 3 - Effective for annual reporting periods beginning on
annual reporting periods beginning on or after 1 January
or after 1 January 2022 and apply prospectively
2022
In May 2020, the IASB issued Amendments to IFRS 3 Business
As part of its 2018-2020 annual improvements to the IFRS
Combinations - Reference to the Conceptual Framework.
standards process, the IASB issued an amendment to IFRS 9.
The amendments are intended to replace a reference to the
The amendment clarifies the fees that an entity includes when
Framework for the Preparation and Presentation of Financial
assessing whether the terms of a new or modified financial
Statements, issued in 1989, with a reference respect to the
liability substantially differ from the terms of the original financial
Conceptual Framework for Financial Reporting, issued in March
liability. These fees include only those paid or received between
2018, without significantly changing its requirements.
the borrower and the lender, including fees paid or received by
either the borrower or lender on the other’s behalf. An entity
The Board also added an exception to the recognition principle
applies the amendment to financial liabilities that are modified
of IFRS 3 to avoid the issue of potential ‘day 2’ gains or losses
or exchanged on or after the beginning of the annual reporting
arising for liabilities and contingent liabilities that would be within
period in which the entity first applies the amendment.
the scope of IAS 37 or IFRIC 21 Levies if incurred separately.
These amendments had no impact on the financial statements of

At the same time, the Board decided to clarify existing guidance
the Company.
in IFRS 3 for contingent assets that would not be affected by
replacing the reference to the Framework for the Preparation and
Presentation of Financial Statements.

5. Standards Issued But Not Yet

Effective
The standards and interpretations that are issued, but not yet
Disclosure of Accounting Policies - Amendments to IAS
effective, up to the date of issuance of the Company’s financial
1 and IFRS Practice Statement 2 - Applicable for annual
statements are disclosed below. The Company has not early
periods beginning on or after 1 January 2023 with earlier
adopted any standards, interpretations or amendments that
application permitted
have been issued but are not yet effective. The Company has
applied intends to adopt these standards, if applicable when they
In February 2021, the IASB issued amendments to IAS 1 and
become effective.
IFRS Practice Statement 2, Making Materiality Judgements,
providing guidance and examples to help entities apply
Amendments to IAS 1: Classification of Liabilities as Current
materiality judgements to accounting policy disclosures. The
or Non-current - Effective for annual reporting periods
amendments aim to help entities provide accounting policy
beginning on or after 1 January 2023 and must be applied
disclosures that are more useful by replacing the requirement for
retrospectively
entities to disclose their ‘significant’ accounting policies with a
requirement to disclose their ‘material’ accounting policies and
In January 2020, the IASB issued amendments to paragraphs 69
adding guidance on how entities apply the concept of materiality
to 76 of IAS 1 to specify the requirements for classifying liabilities
in making decisions about accounting policy disclosures.
as current or non-current. The amendments clarify the following:
• What is meant by a right to defer settlement
The amendments to IAS 1 are applicable for annual periods
• That a right to defer must exist at the end of the reporting
beginning on or after 1 January 2023, with earlier application
period
permitted. Since the amendments to Practice Statement 2
• That classification is unaffected by the likelihood that an
provide non-mandatory guidance on the application of the
entity will exercise its deferral right
definition of material to accounting policy information, an
• Only if an embedded derivative in a convertible liability is
effective date for these amendments is not necessary.
itself an equity instrument would the terms of liability not
impact its classification
The Company is currently assessing the impact of the
amendments.
The Company is currently assessing the impact of the
amendments.
The following pronouncements issued by the IASB are
effective for periods commencing on or after 1 January
Definition of Accounting Estimates - Amendments to IAS 8 -
2023. The Company’s financial reporting is not expected to
Effective for annual reporting periods beginning on or after
be materially impacted by these pronouncements:
1 January 2023
• IFRS 17 Insurance
In February 2021, the IASB issued amendments to IAS 8, • Deferred Tax related to Assets and Liabilities arising from a
in which it introduced a definition of ‘accounting estimates. Single Transaction - Amendments.
The amendments clarify the distinction between changes in
accounting estimates and changes in accounting policies and
the correction of errors. Also, they clarified how entities use
measurement techniques and inputs to develop accounting
estimates.
The amendments apply to changes in accounting policies and

changes in accounting estimates that occur on or after the start
of that period. Earlier application is permitted as long as this fact
is disclosed.
The amendments are not expected to have a material impact on

the Company.


6. Significant Accounting Judgements,

Estimates, And Assumptions
indicators that the carrying value may not be recoverable. When
The preparation of the Company’s financial statements requires
value-in-use calculations are undertaken, management must
management to make judgements, estimates and assumptions
estimate the expected future cash flows from the asset or cash
that affect the reported amounts of revenues, expenses, assets,
generating unit and choose a suitable discount rate in order to
and liabilities, and the disclosure of contingent liabilities, at the
calculate the present value of those cash flows. The assets that
reporting date. However, uncertainty about these assumptions
are subject to this are presented in Notes 18,19 and 20.
and estimates could result in outcomes that could require a
material adjustment to the carrying amount of the asset or Post-employment and long service defined benefit plans
liability affected in the future.
The cost of defined benefit pension plans and other long-term
employment plans is determined using actuarial valuations. The
In the process of applying the Company’s accounting policies,
actuarial valuation involves making assumptions about discount
management has made the following significant estimations,
rates, expected rates of return on assets, future salary increases,
which has the most significant effect on the amounts recognised
mortality rates and future pension increases. Due to the long-term
in the financial statements:
nature of these plans, such estimates are subject to significant
uncertainty. Further details are included in Note 29.
The key assumptions concerning the future and other key sources
of estimation uncertainty at the financial year-end date, that Provision for quarry rehabilitation
have a significant risk of causing a material adjustment to the
Limestone is mined from the quarry in a way that leaves the
carrying value of assets and liabilities within the next financial
“used” area as a one-level horizontal plateau (bench). The
year are discussed below.
Company re-cultivates the quarry sites that will no longer be
mined, and the Company has a quarry rehabilitation plan.
Expected credit losses
The Company assesses the financial assets portfolio to determine Due to the long-term nature of mining a quarry, assessment
whether an impairment loss should be recorded in profit or loss. of the quarry rehabilitation provision is subject to significant
The Company makes judgments as to whether there is any estimates. These estimates are reviewed regularly to take into
observable data indicating that there is a measurable decrease account any material changes to the assumptions. However,
in the estimated future cash flows of an individual debtor in that actual rehabilitation costs will ultimately depend upon future
portfolio. The Company performs impairment assessment during market prices for the necessary rehabilitation works required that
recognition of the financial assets taking into consideration will reflect market conditions at the relevant time. Furthermore,
forward-looking information pertaining to a specific debtor or the timing of rehabilitation is likely to depend on when the mines
a certain debtor’s portfolio. The assessment of the correlation cease to produce at economically viable rates. The discount
between historically observed default rates, forecasts of rate used in the calculation of the provision as at 31 December
economic conditions, and ECLs involves estimation. The amount 2022 equalled 12.96% (2021: 15.95%). Refer to Note 31 for more
of ECLs is sensitive to changes in circumstances and of forecast information on the quarry rehabilitation provision.
economic conditions. The Company’s historical credit loss
Asset useful lives
experience and forecast of economic conditions may also not be
representative of the customer’s actual default in the future. The estimated useful lives and residual values of items of
property, plant, and equipment are reviewed annually and are in
More information on impairment losses including the carrying line with the rates at which they are depreciated.
amounts of the balances affected is presented in Note 23, 24 and
25. For the carrying amount of property, plant, and equipment, refer
to Note 18 to the financial statements.
Impairment of non-financial assets
Contingencies
The Company assesses whether there are any indicators of
impairment for all non-financial assets at each reporting date.
By their nature, contingencies will only be resolved when one
Non-financial assets are tested for impairment when there are
or more future events occur or fail to occur. The assessment of
such contingencies inherently involves the exercise of significant

judgement and estimates of the outcome of future events. of a similar value to the right-of-use asset in a similar economic
environment. The IBR, therefore, reflects what the Company
Litigation and other judicial proceedings, as a rule, raise difficult would have to pay, which requires estimation when no observable
and complex legal issues and are subject to uncertainties rates are available or when they need to be adjusted to reflect
and complexities including, but not limited to, the facts and the terms and conditions of the lease.
circumstances of each particular case, issues regarding the
jurisdiction in which each suit is brought, and differences in The Company estimates the IBR using observable inputs (such
applicable law. Upon resolution of any pending legal matter, as market interest rates) when available and is required to make
the Company may be forced to incur charges in excess of the certain entity-specific estimates (such as the Company’s stand-
presently established provisions and related insurance coverage. alone credit rating).
It is possible that the financial position, results of operations, or
cash flows of the Company could be materially affected by the Determining the lease term of contracts with
unfavourable outcome of the litigation. renewal and termination options
For details on the contingent liabilities amounts, refer to Note 39 The Company determines the lease term as the non-cancellable
to the financial statements. term of the lease, together with any periods covered by an option
to extend the lease if it is reasonably certain to be exercised, or
Taxes
any periods covered by an option to terminate the lease if it is
reasonably certain not to be exercised.
Uncertainties exist with respect to the interpretation of complex
tax regulations, changes in tax laws, and the amount and timing
The Company has several lease contracts that include extension
of future taxable income. Given the wide range of international
and termination options. The Company applies judgement in
business relationships and the long-term nature and complexity
evaluating whether it is reasonably certain whether or not to
of existing contractual agreements, differences arising between
exercise the option to renew or terminate the lease. That is, it
the actual results and the assumptions made, or future changes
considers all relevant factors that create an economic incentive
to such assumptions, could necessitate future adjustments to tax
for it to exercise either the renewal or termination. After the
income and expense already recorded. The Company establishes
commencement date, the Company reassesses the lease term
provisions, based on reasonable estimates, for possible
if there is a significant event or change in circumstances that
consequences of audits by the tax authorities of the respective
are within its control and affects its ability to exercise or not to
countries in which it operates. The amount of such provisions
exercise the option to renew or to terminate (e.g., construction of
is based on various factors, such as the experience of previous
significant leasehold improvements or significant customisation
tax audits and differing interpretations of tax regulations by the
to the leased asset).
taxable entity and the responsible tax authority. Such differences
of interpretation may arise on a wide variety of issues, depending
The Company includes the renewal period as part of the lease
on the conditions prevailing in the respective domicile of the
term for the leases recognised. The Company typically exercises
companies.
its option to renew for leases because there will be a significant
For disclosures and details on tax and tax contingencies, refer to negative effect on operations if a replacement asset is not
Notes 32 and 39 of the financial statements.
readily available. The renewal periods for leases are not included
as part of the lease term if they are not reasonably certain to
Leases be exercised. Furthermore, the periods covered by termination
options are included as part of the lease term only when they are
Estimating the incremental borrowing rate reasonably certain not to be exercised.
The Company cannot readily determine the interest rate implicit
in the lease, therefore, it uses its incremental borrowing rate (IBR)
to measure lease liabilities. The IBR is the rate of interest that the
Company would have to pay to borrow over a similar term, and
with a similar security, the funds necessary to obtain an asset


7. Revenue from Contracts With

Customers
Disaggregated revenue information

production expenses. Depreciation incurred for factory machines
The Company presents disaggregated revenue based on the type
and equipment is presented separately in note 12.
of goods provided to customers and the timing of transfer of the
goods. Set out below is the disaggregation of the Company’s
Figures in TZS ‘000 2022 2021
revenue from contracts with customers.
Sales of cement per cement type: Included in cost of sales variable costs are:
Raw materials costs 117,513,969 109,418,585
Twiga plus 345,646,240 264,242,242 Energy costs 86,106,713 77,782,755
Twiga extra 72,908,410 104,164,101 Grinding and packaging costs 28,737,893 22,974,769
Twiga ordinary 71,103,808 78,964,341 Consumables costs 7,256,512 6,623,951

Twiga super 5,057,724 2,135,616 Other variable production costs 1,411,263 1,318,130
Twiga jenga 3,001
241,026,350 218,118,190
494,716,182 449,509,301
Included in cost of sales - fixed production costs are:

8. Other Operating Income
Cost of repair and maintenance
17,319,827 16,954,289
Figures in TZS ‘000 2022 2021 costs
Staff costs 15,247,314 14,864,345
Gain on disposal of property,
- 46,610
plant and equipment Other fixWed production costs 7,129,713 3,905,650
Other income 841,677 1,159,310 39,696,854 35,724,284
841,677 1,205,920
10. Selling And Marketing Expenses
9. Cost of Sales
Staff costs 2,102,067 2,025,342
Distribution costs 29,774,443 19,743,267 Marketing, advertising, and sales
980,635 985,493
Variable costs 241,026,350 220,606,569 costs
3,082,702 3,010,835
Fixed production costs 39,696,854 35,724,284
Provision for slow-moving and
1,167,340 2,741,450
obsolescence (Note 22 [a])
Release of Impairment of
obsolete consumables (Note (195,682) (682,507)
22[b])
Depreciation, amortisation, and
17,123,039 15,051,973
impairment (Note 12)
328,592,344 293,185,036
Cost of sales includes the cost incurred on raw materials, fuel,

electricity, personnel, maintenance, distribution, and other

11. Administrative Expenses

Staff costs 13 5,374,199 5,205,852
Consultancy costs 4,228,003 3,838,285
Technical assistance 5,089,556 5,115,982
Release of expected credit losses of receivables 23 (339,944) (421,078)
Other administrative expenses 7,342,444 6,160,786
Depreciation, amortisation, and impairment (Note 12) 3,522,368 3,614,341
25,216,626 23,514,168
Included in Other administrative expenses are:

Audit fees 175,218 166,000
Donations 13,059 161,815
Environmental, overheads & other admin costs 3,869,760 3,430849
Expense relating to leases of low-value assets 1,549,793 1,108,869
Travelling costs 1,026,321 446,574
Legal fees 598,955 731,399
Directors’ remuneration 109,338 115,280

7,342,444 6,160,786
12. Depreciation and Amortisation

Depreciation of property plant and equipment 18 17,123,039 15,051,973
Depreciation expense of right-of-use assets 21 3,301,303 3,216,161
Amortisation of intangible assets 19 193,219 370,334
Amortisation of lease hold land 20 27,846 27,846
20,645,407 18,666,314
3. Staff Costs
Figures in TZS '000 Notes 2022 2021
Staff costs under:

Cost of sales 15,247,314 14,864,345
Selling and marketing costs 2,102,067 2,025,342
Administrative expenses 5,374,199 5,205,852
22,723,580 22,095,539
Staff costs is made up of:

Salaries and wages 9,079,467 8,673,701
Social Security Contribution 1,364,100 1,296,593
Payroll tax (SDL) 30 582,064 581,969
Post employment and long service costs 29 745,871 656,575
Other employment costs and employee benefits 10,952,078 10,886,700
22,723,580 22,095,538


14. Other Operating Expenses

Local government levies and taxes 2,383,704 4,586,728
Research and exploration costs 348,531 822,613
Other operating expenses (4,560) 14,260
2,727,675 5,423,601
15. Finance Income

Interest income on short-term bank deposits 3,139,579 3,258,481
3,139,579 3,258,481
16. Finance Costs

Interest expense on lease liabilities 810,519 611,279
810,519 611,279
17. Gain On Foreign Currency Translation


Exchange gain - realised 1,443,794 1,243,851
Relating to Cash and Bank
Exchange loss - realised (481,847) (345,669)
Sub-total 961,947 898,182
Exchange gain - unrealised 1,513,963 51,272

Exchange loss - unrealised (645,916) (1,141,049)
Sub-total 868,047 (1,089,777)
Net foreign exchange gains 1,829,994 (191,595)
Net unrealised exchange gain is made up of:

Impacting cash and bank 801,765 (620,896)
Impacting operating receivables, payables and others 66,282 (468,881)
868,047 (1,089,777)

18. Property, Plant, And Equipment (PPE)
Production Capital work-

Building Other Capital items
Figures in TZS’000 machinery & in-progress Total
and Roads equipment in stock
equipment (CWIP)9
Cost
At 01 January 2021 50,918,827 213,153,662 17,914,186 2,734,021 14,679,623 299,400,319

Additions - - - 7,929 27,820,338 27,828,267
Transfers 368,184 25,312,291 975,176 - (26,655,651) -

Transfers - Capital items in stock - - - (747,686) (579,655) (1,327,341)
Disposal - - (522,040) - - (522,040)

At 31 December 2021 51,287,011 238,465,953 18,367,322 1,994,264 15,264,655 325,379,205
At 01 January 2022 51,287,011 238,465,953 18,367,322 1,994,264 15,264,655 325,379,205
Additions 169,421 - 14,441,617 14,611,038

Transfers 1,835,461 6,395,718 682,825 - (8,914,004) -
At 31 December 2022 53,122,472 245,031,092 19,050,147 1,994,264 20,792,268 339,990,243
Accumulated depreciation
At 01 January 2021 20,902,960 128,513,462 15,609,587 981,162 - 166,007,171

Charge during the year 2,052,218 11,806,359 1,055,643 137,753 - 15,051,973
Disposal - - (522,040) - - (522,040)

Reclassification from inventory
- - - - - -
provision
At 31 December 2021 22,955,178 140,319,821 16,143,190 1,118,915 - 180,537,104
At 01 January 2022 22,955,178 140,319,821 16,143,190 1,118,915 - 180,537,104
Charge during the year 2,118,120 14,083,180 921,739 - 17,123,039

Disposal - - - - - -
At 31 December 2022 25,073,298 154,403,001 17,064,929 1,118,915 - 197,660,143
Net carrying amount
At 31 December 2022 28,049,174 90,628,091 1,985,218 875,349 20,792,268 142,330,100
At 31 December 2021 28,331,833 98,146,132 2,224,132 875,349 15,264,655 144,842,101
No property, plant and equipment have been pledged as collateral for liabilities.
4 Included in CWIP is all on going projects for sustaining, expansion, and growth of production facilities of the Company


19. Intangible Assets
Figures in TZS’000 Software Mining rights Total

Cost
At 01 January 2021 4,310,228 919,530 5,229,758

Additions 579,655 - 579,655
At 31 December 2021 4,889,883 919,530 5,809,413
Accumulated amortisation
At 01 January 2021 4,310,228 122,314 4,432,542
Charge during the year 370,334 - 370,334

At 31 December 2021 4,680,562 122,314 4,802,876
Carrying value at 31 December 2021 209,321 797,216 1,006,537
Cost
At 01 January 2022 4,889,883 919,530 5,809,413

Additions - - -
At 31 December 2022 4,889,883 919,530 5,809,413
Accumulated amortisation
At 01 January 2022 4,680,562 122,314 4,802,876
Charge during the year 193,219 - 193,219

At 31 December 2022 4,873,781 122,314 4,996,095
Carrying value at 31 December 2022 16,102 797,216 813,318
20. Leasehold Land
Figures in TZS’000 2022 2021
At 01 January 1,008,775 1,036,621

Additions - -
Less: Amortisation for the year (27,846) (27,846)

At 31 December 980,929 1,008,775
Within one year 27,846 27,846
After one year 953,083 980,929

Total 980,929 1,008,775
The lease amount was paid upfront and amortised over the useful life. The remaining lease period for leasehold land is 70 years.

21. Right Of Use
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:
Figures in TZS ‘000 Land Equipment’s Total
As at 01 January 2021 182,752 4,015,892 4,198,644
Addition - - -
Depreciation expense (3,447) (3,212,714) (3,216,161)
As at 31 December 2021 179,305 803,178 982,483
As at 01 January 2022 179,305 803,178 982,483
Addition - 6,652,811 6,652,811

Depreciation expense (3,320) (3,297,983) (3,301,303)
As at 31 December 2022 175,985 4,158,006 4,333,991
The Company has lease contracts for equipment and land for limestone extraction and factory area for its operations. Leases of land
generally have lease terms of 99 years and equipment for 3.25 years. The Company also has certain leases of printers with lease terms
of 12 months or less and leases of expatriate’s houses with low value. The Company applies the ‘short-term lease’ and ‘lease of low-
value assets’ recognition exemptions for these leases. Refer to Note 28 for further disclosures on leases.
22. Inventories

Raw materials and additives 20,377,205 6,493,753
Spare parts 56,294,024 45,064,437

Consumables 12,815,698 11,116,625
Work-in-progress 2,187,473 5,145,603

Finished goods and goods for resale
- Twiga Extra Cement 473,289 210,348

- Twiga Ordinary Cement 708,974 765,342
- Twiga Plus Cement 450,382 248,026

- Coal for resale 9,766,100 -
Less: Provision for slow-moving and obsolete stock (a) (17,006,145) (15,838,805)
Provision for impairment of spare parts and
(b) (74,160) (269,842)
consumables
85,992,840 52,935,487


22. Inventories Continued

(a) Provision for slow-moving and obsolete stock
At 01 January 15,838,805 13,097,355

Increase in provision 1,167,340 2,741,450
At 31 December 17,006,145 15,838,805

the provision for slow-moving stock is composed of;
Spare parts 15,538,221 14,271,324

Consumables 1,467,924 1,567,481
17,006,145 15,838,805
(b) Provision for impairment of spare parts and consumables

At 01 January 269,842 952,349
(Decrease)/Increase in provision (195,682) (682,507)
At 31 December 74,160 269,842
(c) Value of inventories expensed during the year 170,116,214 163,481,622
During the year 2022, none of the Company’s inventory balances was pledged as security for liabilities.
23. Trade Receivables
Trade Receivables - Third Parties 50,332,237 47,247,537

Trade Receivables - Intercompany 3,859,153 -
54,191,390 47,247,537
Allowance for expected credit losses (630,276) (970,220)
Net Trade Receivables from contract with customers 53,561,114 46,277,317
Set out below is the movement in the allowance for expected credit loss of trade receivables:
Expected credit loss
At 01 January (970,220) (1,391,298)

Release of provision during the year 339,944 421,078
At 31 December (630,276) (970,220)
Trade receivables are non-interest bearing and are generally on 30 to 90 days payment terms. Provision policy excludes debtors backed
by bank guarantees.
Trade receivables increased in line with the increased sales. In 2022, TZS 0.63 billion (2021: TZS 0.97 billion) was recognised as a
provision for expected credit losses on trade receivables for the Company. Information about the credit exposures is disclosed in Note
42 (c).

24. Other Short-Term Operating Receivables

Prepaid expenses 4,980,036 3,078,374
Other short-term receivables

Staff loans and advances 272,347 348,577
Advances to suppliers 15,085,945 10,477,469

Other receivables 7
5,065,369 3,892,411
Gross receivables 25,403,697 17,796,831
Allowance for expected credit losses8 (1,209,962) (1,209,962)

24,193,735 16,586,869
Movement in allowance for expected credit losses

At 01 January (1,209,962) (1,209,962)
Increase in expected credit losses recognised through
- -
profit or loss
At 31 December (1,209,962) (1,209,962)
Terms and conditions of the above other receivables:

Staff advances are amounts raised to staff for small value expenses such as travelling costs that cannot be certainly determined in
advance. These are non-interest bearing and must be retired within 30 days. On aggregate, such balances are not material and their
very quick retirement period of 30 days since they were advanced reduces any risk of impairment.
Advances to suppliers are non-interest bearing and are generally on a maximum of 90 days terms. The balance at year-end represents
down payment to suppliers for upcoming deliveries and port clearing charges.
Immediately as such deliveries are made, normally within two months, respective expenses as applicable are actualised. Management
has assessed impairment on such balances and concluded that default is remote, and any provision would be immaterial.
7
Other short-term receivables relate to deposit to Tanzania Revenue Authority as a requirement for filing objection regarding tax cases disclosed under note 39
8
Include in ECL is prepayment for projects that are likely not to be executed


25. Other Financial Assets

Other financial assets include the amount receivable from the sale of the Company’s property. The Company sold part of its owned
land located at Kinondoni Municipality, Plot 6/2/1, Plot 6/2/2, Plot 6/2/3, Plot 6/2/4, and Lugoba aggregates plant.
As at 31 December 2022, the outstanding amounts relate to the Lugoba aggregates plant, the expected conclusion of repayments to
be by or before December 2024.
Amount receivable as at 31 December
Balance brought forward 1,396,000 1,946,000

Proceeds received (222,000) (550,000)
As at 31 December 1,174,000 1,396,000
Current portion 600,000 600,000
Non current portion 574,000 796,000

1,174,000 1,396,000
26. Cash And Cash Equivalents
Cash at bank - local currency 13,548,845 28,411,267

Cash at bank - foreign currency 91,948,287 85,861,678
Cash at hand 15,512 5,419

105,512,644 114,278,364
The carrying amounts disclosed above reasonably approximate the fair values at the reporting
date. The cash and cash equivalents position for the purpose of the statement of cash flow
purposes is as follows:
Cash and cash equivalents as above 105,512,644 114,278,364
Net cash and cash equivalent 105,512,644 114,278,364

27. Share Capital
AUTHORISED, ISSUED AND FULLY PAID UP

179,923,100 Ordinary Shares of TZS 20 each 3,598,462 3,598,462
Shareholding
Number of Number of
Shareholder:
Shares Shares
Scancem International DA 124,598,500 124,598,500
General Public 54,923,107 55,055,094

Wazo Hill Savings and Credit Cooperative Society 401,493 269,506
179,923,100 179,923,100
28. Lease Liabilities
Figure in TZS ‘000 2022 2021
As at 01 January 1,231,163 4,957,146
Additions 6,652,811 -
Accretion of interest 810,519 611,279
Payments (4,083,546) (4,337,262)

Write off - -
As at 31 December 4,610,947 1,231,163
Current 3,461,375 1,044,405

Non-Current 1,149,572 186,758
4,610,947 1,231,163
The following are the amounts recognised in profit or loss:
Depreciation expense of right-of-use assets 301,303 3,216,161

Interest expense on lease liabilities 810,519 611,279
Expense relating to leases of low-value assets 1,549,793 1,108,869

Total amount recognised in profit or loss 5,661,615 4,936,309
The rent is paid on annual basis. The lease is renewable on expiry. There are no contingent rents payable, purchase options, and
restrictions imposed on the Company associated with the lease arrangements. As at the date of these financial statements contractual
terms relating to the renewal of the equipment lease were uncertain, pending tendering processes expected to be completed.
Accordingly, the assessment for lease liability and the corresponding right of use asset do not consider the period beyond the
contractual tenor of the lease.
The discount rate applied during the year was 19.22% for Land and 18.22% for Quarry Equipment.


29. Employment Liabilities

The Company contributes to a pension scheme administered by National Social Security Fund. In addition to that, the Company has an
endowment scheme administered by the Jubilee Insurance Company of Tanzania Limited. These two schemes are defined contribution
plans. The cost of the endowment scheme is fully met by the Company (See also note 6 Significant Accounting Judgements, estimates,
and assumptions - Pension Obligations).

Endowment Scheme 763,718 808,500
National Social Security Fund (NSSF) 1,364,100 1,296,593

2,127,818 2,105,093
In addition to the two defined contribution schemes above, the Company has entered into a voluntary agreement with the Tanzania
Union of Industrial and Commercial Workers (TUICO) of Tanzania Portland Cement Company to provide end-of-service benefits
to employees reaching retirement age. The retired employee is paid based on the length of service. Also, the voluntary agreement
provides for long-service awards paid in cement throughout the employment (every five years). The end-of-service benefit scheme is
reported as a post-employment benefit, while the long-service award is reported as other long-term benefits. The cost of both is fully
met by the Company and the plans are administered by the management of the Company.
Directors are of the opinion that the unfunded defined benefit obligation does not expose the Company to significant Company-
specific or plan-specific risk. There are no modifications/amendments to the defined benefit plans that resulted from either statutory
(labour law) or any other negotiations with employees’ union that would result into the past service cost being recognised in profit or
loss.

Present value of unfunded obligations 5,339,322 5,306,943
Net liability recognised in statement of financial position 5,339,322 5,306,943
Post-employment benefit 5,042,938 5,002,504

Other long-term benefits 296,384 304,439
5,339,322 5,306,943
The amounts recognised in profit or loss and OCI are as follows:

Current service cost 300,809 226,950
Interest on obligation 445,062 429,625

Expense recognised in OCI 745,871 656,575
Actuarial gains/(losses) on defined benefit plan:
Post-employment benefit (432,945) 1,449,207

Other long-term benefits (15,889) 89,139
(Income)/Expense recognised in OCI (448,834) 1,538,346

Changes in the present value of the employment benefits are as follows:
Post – employment benefits

Opening balance (end-of-service benefits) 5,002,504 3,797,522
Current service costs 286,514 214,904

Interest cost 419,558 400,304
Benefits payments (232,693) (859,433)

Actuarial losses/(gains) (432,945) 1,449,207
Closing balance (end-of-service benefits) 5,042,938 5,002,504
Other long-term benefits

Opening balance (long-service awards) 304,439 264,558
Current service costs 14,295 12,046

Interest cost 25,504 29,321
Benefits payments (31,966) (90,625)

Actuarial losses/(gains) (15,889) 89,139
- Sub-total: change in provision for other long-term

(8,056) 39,881
benefits
Closing balance (long-service awards) 296,384 304,439
Total amount of obligation 5,339,323 5,306,943
Expected benefit payments.
Post-employment benefits Other long-term benefits
Expected benefits
Expected contributions
payments
Figures in TZS ‘000 2022 2021 2022 2021
In the following year 401,627 723,611 18,413 69,024

In current year +2 562,132 130,048 25,771 12,405
In current year +3 707,580 491,535 32,439 46,887

In current year +4 175,778 697,531 8,059 66,537
In current year +5 1,063,714 173,295 48,767 16,530

In current year + 6 and > (in aggregate) 3,507,722 4,177,259 160,813 398,464
The average duration of the defined benefit plan obligation at the end of the reporting period is 14.1 years (2021: 15 years).


29. Employment Liabilities Continued
Significant actuarial assumptions:

Discount rate at 31 December 12.56% 15.49%
Future annual salary increases 5% 5%
Cost inflation 4.9% 4%
The cost of the defined benefit pension plan and other post-employment benefits and the present value of the pension obligation
is determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual
developments in the future. These include the determination of the discount rate, future salary increases, mortality rates, and future
pension increases. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
The parameter most subject to change is the discount rate. In determining the appropriate discount rate, management considers the
interest rates of treasury bonds in currencies consistent with the currencies of the post-employment benefit obligation.
The mortality rate is based on publicly available mortality tables for specific countries. Those mortality tables tend to change only at
intervals in response to demographic changes. Future salary increases and pension increases are based on expected future inflation
rates for the respective countries.
Sensitivity analysis
The assumptions with the greatest impact on the results are:

Discount +1% 5,137,360 5,098,444
Discount -1% 5,555,645 5,530,745
Service plus interest cost discount +1% 838,908 734,646
Service plus interest cost discount -1% 861,778 757,683
The sensitivity figures above are based on changes of reasonable possible changes and assumptions remaining unchanged in a period
of one year. Inflation is expected to be stable. The amounts shown under discount represent the value of the obligation after changing
the assumption on the statement of financial position while the amounts under interest cost shown the value of expense after changing
the assumption.
The sensitivity analysis may not be representative of the actual change in the defined obligation as it is unlikely that the change in
assumptions would occur.
Membership statistics
2022 2021
Active members9
Headcount 246 251
Average age 43 42
Average future service 14 13
Average annual pensionable salary 33,633 31,556
The scheme has no retired or inactive members.
9 Active members are mainly employees under the Collective Bargain Agreement

30. Other Statutory Payroll Remittances

Other statutory payroll remittances include Pay as You Earn (PAYE), Skills and Development Levy (SDL), and Workers Compensation
Fund (WCF). PAYE, SDL, and WCF are payable by the Company to the Tanzania Revenue Authority (TRA) in accordance with the Income
Tax Act. The amounts charged to profit or loss in the year in respect of SDL and WCF remittances are:
Figures in TZS ‘000’ 2022 2021

Skills and Development Levy 582,064 581,969
Workers’ compensation fund 55,093 76,651
The amount deducted from employee’s salaries and wages in the year in respect of PAYE is:
Pay As You Earn 5,199,093 4,389,624
At year-end, the following amounts were outstanding and were payable to TRA. The amounts are included in trade and other payables
as at year-end and were subsequently remitted after year-end.

Skills and Development Levy 82,337 80,332
Pay As You Earn 791,693 788,674
Workers’ compensation fund 6,718 6,838
31. Provision For Site Restoration

Provision for quarry site restoration is made annually based on the expected cost to be incurred to rehabilitate quarry sites. The
provision is based on the expert costing of the expected costs. Any increase/ (decrease) in the provision is recognised in profit or loss.

At 1 January 2,432,541 2,275,022
Provision for the year 1,833,770 157,519
Release of provision - -
At 31 December 4,266,311 2,432,541
The key assumptions used in determining the provision are:

• The useful life of the site is estimated to be 30 years and the provision is made based on the discounted expected cost of closure
at the end of this period.
• The cost will be incurred in USD.
• The estimated cost is USD 0.2 per ton of material mined from the quarry site.
• The applicable discount rate equals 12.56% (2021: 15.49%) which fairly approximates the market rate.
• Tanzania inflation rate used was 4.9% (2021: 4%)
The expected timing of the provision is to be utilised over periods after more than one year from the reporting date.


32. Income Tax

i. Income tax expense

Current income tax charge 44,425,808 41,748,930
Deferred income tax credit - current year (1,414,974) (2,434,857)
Deferred income tax credit - prior period (271,870) 241,530
42,738,964 39,555,603
ii. Reconciliation of tax expense to tax based on accounting profit:
Accounting profit before taxation 140,097,566 128,037,189
Tax applicable rate of 30% (2019: 30%) 42,029,270 38,411,156

Tax effect on non-taxable/non-deductible items
Disallowable expenses for tax purposes10 981,564 902,9117
Prior year deferred tax adjustment (271,870) 241,530
Income tax expense 42,738,964 39,555,603
iii. Deferred income tax

Accelerated depreciation for tax purposes 78,310,016 84,117,584
Provisions for post-employment benefits (1,786,620) (1,303,386)
Write-down of inventory to net realisable value (17,080,305) (16,108,647)
Actuarial losses on employee benefits obligation (3,554,358) (4,003,191)
Provision for impairment of receivables (1,840,237) (2,180,231)
Provision for quarry site restoration (4,266,311) (2,432,541)
Unrealised exchange loss (644,260) (1,141,049)
Unrealised exchange gain 1,513,963 (51,272)
IFRS 16 (lease) fair value adjustment (1,544,390) (1,516,115)
Other temporary differences (15,551,947) (16,651,619)
33,555,551 38,729,533
Deferred income tax liability thereon at 30% 10,066,665 11,618,859

Less: Opening deferred tax liability (11,618,859) (14,273,690)
Deferred income tax charge (1,552,194) (2,654,831)
Deferred income tax charge/(credit) to profit (1,414,974) (2,434,857)

Deferred income tax credit - prior period (271,870) 241,530
Deferred income tax (charge)/credit to other comprehensive income 134,650 (461,504)
(1,552,194) (2,654,831)
10 Disallowable expenses for tax purposes include donations, entertainment

iv. Current income tax payable

Tax payable brought forward 28,859 1,013,768
Tax charge for the year 44,425,808 41,748,930
Tax payments during the year (43,932,977) (42,733,839)
Current income tax (recoverable)/payable 521,690 28,859
33. Trade Payables And Provisions

a. Trade And Other Payables
Trade payables are non-interest bearing and are normally settled between 15 to 60 days after the invoice date.
• The carrying amounts of trade and other payables are considered to be the same as their fair values, due to their short-term
nature.
• Other payables are non-interest bearing and have an average term of 30 days.
• For terms and conditions relating to related parties, refer to Note 38

Trade payables - third parties 59,557,027 51,116,820
Trade payables - intercompany 38 (iii) 3,968,080 825,230
Accruals 6,556,518 9,815,956
Contract liabilities 34 4,141,365 5,439,634
Short-term operating payables 1,367,462 184,280
Payables for payroll and related costs 2,803,943 2,899,801
78,394,395 70,281,721
b. Provisions
At 01 January 13,329,879 10,414,064

Net movement during the year (280,104) 2,915,814
At 31 December 13,049,775 13,329,878
The amount above includes provisions for pending tax matters at different stages of appeals
34. Contract Liabilities

At 01 January 5,439,634 6,482,896
Advances for cement Sales 4,141,365 5,439,634
Recognised as revenue during the year (5,439,634) (6,482,896)
At 31 December 4,141,365 5,439,634
The performance obligation is satisfied when cement trucks are weighed at Tanzania Portland Cement Plc’s weighbridge and a delivery
note is generated. Contact liabilities will be realised within an estimate of one month period after the year-end.


35. Net Financial Debt

As at 31 December 2022, the Company did not have any bank overdrafts.
Cash and cash equivalents (excluding restricted cash) 105,512,644 114,278,364

Lease liabilities (4,610,947) (1,231,163)
Net Cash/(debt) 100,901,697 113,047,201
Cash and liquid investments 105,512,644 114,278,364

Gross debt - variable interest rates (4,610,947) (1,231,163)
Net Cash/(debt) 100,901,697 113,047,201
36. Dividend Proposed And Approved

Dividend approved during the year:

Final dividend 2022: TZS 390 per share (2021: TZS 390 per share) 70,170,014 70,170,009
Total 70,170,014 70,170,009
Dividends paid are subject to withholding tax which is payable to Tanzania Revenue Authority.
During the period under review, there was no interim dividend declared.
Subsequent to year-end, the Board proposed a final dividend for 2022 totalling TZS 70.17 billion (2021: TZS 70.17 billion) being TZS 390
per share (2021: TZS 390 per share).
37. Dividend Payable

At 01 January 2,848,470 2,856,463
Dividend approved 70,170,014 70,170,009
Dividend paid (70,113,111) (70,178,004)
At 31 December 2,905,373 2,848,468
Dividend payable as at year end comprises of:

Scancem International DA - -
Other Shareholders 2,905,373 2,848,468
2,905,373 2,848,468

38. Related Party Transactions And Balances

The Company’s Ultimate Holding Company is HeidelbergMaterials incorporated in Germany and the immediate holding Company is
Scancem International DA incorporated in Norway.
During the year, TPCPLC entered into transactions with HeidelbergMaterials, which is the Ultimate Holding Company, HC Trading
Malta, HC Green Trading Limited, and SA Cimenteries CBR Cementbedrijven which are sister companies to TPCPLC. TPCPLC imports
raw materials, machinery, spare parts, and services from/through the holding and sister companies. As well TPCPLC sold coal to sister
company HC Trading GMBH.
(i) Sales to related parties

The Company sells materials and spare parts to related companies. During the year TPCPLC made the following sales to related
parties.
Figure in TZS ‘000’ 2022 2021

Related party Relationship
HC Trading GMBH Sister Company 6,652,824 -
6,652,824 -
(ii) Purchases from related parties

The Company purchases raw materials, spare parts, consumables, and services from related party companies as follows:
Figure in TZS ‘000’ 2022 2021

Related party Relationship
HeidelbergMaterials Ultimate parent Company 6,247,825 5,415,473
HC Trading Asia and Pacific PTE Limited Sister Company 6,927,596 -
SA Cimenteries CBR Cementbedrijven Sister Company 1,035,769 1,222,897
Heidelberg Cement France Sister Company 369,481 -
HC Trading Malta Limited Sister Company - 6,706,478
HC Green Trading Limited Sister Company - 317,708
14,580,671 13,662,556
(iii) Amounts due to/from related parties
Trade payables outstanding balances to related companies at the end of the year are as follows:
Figure in TZS ‘000’ 2022 2021

HeidelbergMaterials 3,474,386 825,230
SA Cimenteries CBR Cementbedrijven 124,213 -
Heidelberg Cement France 369,481 -
3,968,080 825,230
Trade receivables outstanding balances from related companies at the end of the year are as follows:
Figure in TZS ‘000’ 2022 2021

HC Trading GMBH 3,859,153 -
3,859,153 -


38. Related Party Transactions And Balances Continued
Terms and conditions of transactions with related parties:

The balances are due on demand. Outstanding balances at the year-end are unsecured and interest-free and settlement occurs in
cash. There have been no guarantees provided or received for any related party receivables or payables.
For the year ended 31 December 2022, the Company has not recorded any impairment of receivables relating to amounts owed by
related parties (2021: Nil). This assessment is undertaken each financial year by examining the financial position of the related parties
and the market in which the related parties operate.
(iv) Key Management Personnel and Directors
a) Key Management Personnel

Key management personnel are those persons having authority and responsibility for planning, directing, and controlling the activities
of the Company, directly or indirectly, including any director (whether executive or otherwise) of the Company.

Short-term employee benefits (Salaries and allowances) 5,116,530 5,175,125
Post-employment benefits (defined contribution plans) 765,580 597,260
5,882,110 5,772,385
b) Key Management Personnel Continued
• No long-term terminal benefits were paid to key management personnel during the year (2021: TZS 326 million),
• As at year-end, there was no outstanding amount with key management personnel,
• The amounts disclosed in the table above are the amounts recognised as an expense during the period related to key
management personnel.
c) Directors’ Remuneration

Non-executive Chairman 10,393 19,213
Non-executive Directors 88,952 76,854
Executive Director 9,993 19,213
109,338 115,280
A schedule detailing the remuneration of each board of directors will be annexed to these financial statements for presentation at the
annual general meeting.
d) Balances with Directors
No outstanding balances with the directors during the year (2021: Nil).
39. Commitments And Contingencies

Capital commitment
No major capital commitment during the year.
Guarantees and other financial facilities

The Company had the contractual amounts of bank financial instruments that commit it to extend credit to customers, guarantees and
other facilities as follows:
Figure in TZS ‘000’ 2022 2021
Guarantees and standby letters of credit received from banks 39,357,842 41,086,002
39,357,842 41,086,002

Legal claims
Contingent liabilities relate to several court cases on land trespassing, alleged unfair termination of employment contracts and breach
of business contracts all amounting to TZS 5 billion (2020: TZS 5 billion). The Company has been advised by its legal counsel that it
is only possible, but not probable, that the action will succeed and accordingly no provision for any liability has been made in these
financial statements.
Contingent asset
The court ruled in favour of TPCPLC on one of the decided civil cases and the Company is due to receive TZS 250 million. The settlement
will be through TPCPLC realising assets pledged as collateral. The asset selling process is expected to be completed in 2023.
Tax assessment
The Company’s future tax charge, effective tax rate, and profit before tax could be affected by several factors including tax reform
introduced in Tanzania and the resolution of open tax disputes with the TRA. As at 31 December 2022, the Company had unresolved tax
assessments (VAT, WHT, and PAYE) and appealed the matter to the Appeal Board.
All major tax positions taken are subject to review by executive management and reported to the Board of Directors. The Company
has assessments from external advisors supporting the positions taken in respect of significant tax matters which corroborates
the application and interpretation of the tax legislation. The Company has considered all matters in dispute with the TRA and has
accounted for any exposure identified if required.
40. Earnings Per Share
Figures in TZS 2022 2021

Profit attributable to ordinary equity holders 97,358,602,339 88,481,584,569
Weighted average number of ordinary shares 179,923,100 179,923,100
Basic and diluted earnings per share 541 492
a. Basic earnings per share is calculated on the profit after tax attributable to ordinary equity holders by the weighted average number
of ordinary shares outstanding during the year.
b. Diluted earnings per share is calculated on the profit after tax attributable to ordinary equity holders by the weighted average
number of ordinary shares outstanding after adjustment of dilutive potential ordinary shares.
c. The basic and diluted earnings per share are the same as there are no convertible instruments or other dilutive shares.
41. Segment Reporting

The Company’s main product currently is cement. Most of the revenue is therefore derived from the sale of cement (as disclosed in note
7) and the Board of Directors relies primarily on revenue from the sale of cement to assess the performance.
The Company is organised into one single business unit for management purposes. Management monitors the operating results of the
business as a single unit for the purpose of making decisions about resource allocation and performance assessment.
The revenue from external parties is measured in a manner consistent with that in the Statement of Profit or Loss and Other
Comprehensive Income. Segment performance is evaluated based on operating profit or loss and is measured consistently with
operating profit or loss in the financial statements.
The Company’s operations and tangible non-current assets are located in Tanzania. The Company’s cement sales are both in domestic
and export markets.
The Executive Management Committee is the Chief Operating Decision Maker (CODM) and monitors the operating results of its
business units separately for the purpose of making decisions about resource allocation and performance assessment.


42. Financial Risk Management

The Company’s principal financial liabilities comprise of trade and other payables. The main purpose of these financial instruments
is to raise finance for the Company’s operations. The Company has various financial assets such as trade receivables, short-term
deposits, and cash and cash equivalents, which arise directly from its operations.
The main risks arising from the Company’s financial instruments are liquidity risk, foreign currency risk, and credit risk. The board
reviews and agrees on policies for managing each of these risks as summarised below.
a. Treasury risk management

The Company operates a treasury function to provide competitive funding costs, invest, and monitor financial risk. The Company does
not use derivative financial instruments for speculative purposes and for managing financial risk.
b. Foreign currency risk

Foreign currency (FX) risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in foreign exchange rates. Foreign currency risk is managed at an operational level and monitored by the Finance Director.
The following table shows the hypothetical impact on the financial result assuming a 10% increase or decrease in the value of the
foreign currency (mainly USD and EUR have been considered) against our functional currency, the Tanzanian shillings, whereby the
positive values represent income and the negative values an expense in the income statement.
10% Increase in the value 10% Decrease in the value

of TZS vs. Foreign currency of TZS vs. Foreign currency
Figure in TZS ‘000’ 2022 2021 2022 2021
Net effect on profit before tax
TZS/USD 8,625,408 7,789,384 (8,625,408) (7,789,384)
TZS/EUR 155,946 254,224 (155,946) (254,224)
The sensitivity analysis has been determined based on the net exposure as at 31 December 2022. The change of 10% is what is used
when determining the net foreign currency transaction risk reported internally to key management personnel to assess reasonably
possible change in foreign exchange rates.

Below is a summary of the financial assets and liabilities held in different foreign currencies by the company as of December 31, 2022,
indicating the overall level of exposure:
Exposure in EURO Exposure in USD Total in function

Figure in TZS ‘000’ translated to TZS Translated to TZS currency
At 31 December 2022
Financial assets
Trade and other receivables - 5,709,371 5,709,371
Cash and cash equivalents 1,998,727 89,836,871 91,835,598
1,998,727 95,546,242 97,544,969
Financial liabilities
Trade and other payables 439,271 9,292,162 9,731,433
Net exposure 1,559,456 86,254,079 87,813,536
Exposure in EURO Exposure in USD Total in function

Figure in TZS ‘000’ translated to TZS Translated to TZS currency
At 31 December 2021
Financial assets
Trade and other receivables - 4,169,967 4,169,967
Cash and cash equivalents 3,290,536 80,262,634 83,553,170
3,290,536 84,432,600 87,723,136
Trade and other payables 748,300 6,538,761 7,287,061
Net exposure 2,542,236 77,893,839 80,436,075
Exchange rates applicable were as follows:
TZS:EURO TZS:USD
On 1 January 2022 2,650 2,328
On 31 December 2022 2,561 2,372
On 1 January 2021 2,915 2,337

On 31 December 2021 2,642 2,323


42. Financial Risk Management Continued that is available at the reporting date about past events, current
conditions, and forecasts of future economic conditions.
c. Credit risk management
Credit risk is the risk that a counterparty will not meet its The provision matrix is initially based on the Company’s historical
obligations under a financial instrument or customer contract, observed default rates. The Company will calibrate the matrix to
leading to a financial loss. The Company is exposed to credit risk adjust the historical credit loss experience with forward-looking
from its operating activities (primarily trade receivables) and its information. For instance, if forecasted economic conditions (i.e.
financing activities, including deposits with banks and financial gross domestic product) are expected to deteriorate over the next
institutions and other financial instruments. year which can lead to an increased number of defaults in the
manufacturing sector, the historical default rates are adjusted.
Trade Receivables
At every reporting date, the historically observed default rates
Customer credit risk is managed by the finance department are updated and changes in the forward-looking estimates are
subject to the Company’s established policy, procedures, and analysed. The assessment of the correlation between historically
control relating to customer credit risk management. The credit observed default rates forecasted economic conditions and
quality of a customer is assessed based on an extensive credit ECLs is a significant estimate. The amount of ECLs is sensitive to
rating scorecard and individual credit limits are defined in changes in circumstances and of forecast economic conditions.
accordance with this assessment. The Company’s historical credit loss experience and forecast
Outstanding customer receivables are regularly monitored and of economic conditions may also not be representative of the
any sales to major customers are generally covered by guarantee customer’s actual default in the future.
letters obtained from reputable banks and other financial
institutions. For the majority of customers, including export Generally, trade receivables are not written-off if past due for
clients, full upfront payment is demanded. more than one year and are subject to enforcement activity.
The Company does not hold collateral as security. The letters of
An impairment analysis is performed at each reporting date guarantee are considered an integral part of trade receivables
using a provision matrix to measure expected credit losses. and are considered in the calculation of impairment. At 31
The provision rates are based on days past due for groupings December 2022, 78% (2021: 83%) of the Company’s trade
of various customer segments with similar loss patterns (i.e. receivables are covered by letters of guarantee. For this matter,
Customer type and rating and coverage by bank guarantee). The the Company evaluates the concentration of credit risk with
calculation reflects the probability-weighted outcome, the time respect to trade receivable as low.
value of money, and reasonable and supportable information
Set out below is the information about the credit risk exposure on the Company’s trade receivables and contract assets using a provision
matrix:
Days past due
91 - 180 181 - 360

Current 31-90days Total
days days
31 December 2022
Expected credit loss rate 0.000% 0.114% 4.35% 91.25%
Estimated total receivables gross carrying amount 29,777,952 22,544,193 1,266,905 602,340 54,191,390
Expected credit loss - 25,605 55,060 549,611 630,276
31 December 2021
Expected credit loss rate 0.197% 0.022% 0.07% 85.77%
Estimated total receivables gross carrying amount 28,572,853 16,038,572 1,576,048 1,060,064 47,247,537
Expected credit loss 56,373 3,465 1,182 909,200 970,220

Financial instruments and cash deposits

Credit risk from balances with banks and financial institutions is managed by the Company’s treasury department in accordance with
the Company’s policy. The Company deposits short term cash surpluses only with banks of high credit standing.
The Company’s maximum exposure to credit risk for the components of the statement of financial position at 31 December 2022 and
2021 is the carrying amounts as illustrated in the table below:
Maximum exposure to credit risk
Figures in TZS ‘000’ Notes 2022 2021

Other short-term financial assets (staff loans and
24 272,347 348,577
advances)
Other financial assets 25 1,174,000 1,396,000
Bank balances 26 105,512,644 114,278,364
160,520,105 162,300,258
As at year-end, the credit risk arising from trade receivables is mitigated by bank guarantees issued by the bank in respect of
customers as presented in Note 39.
Analysis of credit risk mitigation:

Bank guarantees (39,357,842) (41,086,002)
Unguaranteed trade receivables 39 14,203,272 5,191,315
d. Liquidity risk
The company mitigates its liquidity risk by generating adequate revenue that can effectively address its working capital requirements
in the near future.
On de- Less than 4-12 1 to 5 More than

At 31 December 2022 Total
mand 3 months months years 5 years
Trade payables - third parties 11,911,405 47,645,622 - - - 59,557,027
Trade payables – intercompany 793,616 3,174,464 - - - 3,968,080
Accruals - 4,071,598 2,484,920 - - 6,556,518
Lease Liabilities 361,410 1,084,231 2,891,372 164,027 1,971,142 6,472,182
361,410 55,975,914 5,376,292 164,027 1,971,142 76,553,807
At 31 December 2021
Trade payables - third parties 10,223,364 40,893,456 - - - 51,116,820
Trade payables – intercompany 165,046 660,184 - - - 825,230
Accruals 6,095,708 3,720,247 - - 9,815,955
Lease Liabilities 370,164 680,757 22,492 167,999 2,018,883 3,260,295
10,758,574 48,330,105 3,742,739 167,999 2,018,883 65,018,300


42. Financial Risk Management Continued

The Company specifies a hierarchy of fair values based on
d. Liquidity risk Continued whether the inputs to the underlying valuation techniques are
observable or unobservable. Observable inputs reflect market
The Company monitors its risk of shortage of funds using a data obtained from independent sources; unobservable inputs
recurring liquidity planning tool. reflect the Company’s market assumptions. These two types of
inputs have created the following fair value hierarchy:
The Company’s objective is to maintain a balance between
• Level 1 - The fair value of financial instruments traded in
continuity of funding and flexibility. The Company assessed the
active markets (such as publicly traded derivatives, and
concentration of risk with respect to refinancing its debt and
equity securities) is based on quoted market prices at the
concluded it to be low. Access to sources of funding is sufficiently
end of the reporting period.
available and debt maturing within 12 months can be rolled over
• Level 2 - the fair value is determined using a discounted cash
with existing creditors.
flow model on the basis of input data that does not involve
e. Fair value measurements quoted prices classified in level 1, and which is directly or
indirectly observable.
Except for the Company’s other financial assets (current and non- • Level 3 -are calculated using measurement models that
current portions), the fair value of the Company’s financial assets include factors that cannot be observed on the active
and liabilities reasonably approximates the carrying amounts as market.
demonstrated below:
The Company had no financial assets or financial liabilities that
• Trade and other receivables and payables, and bank are measured at fair value on recurring basis as at 31 December
balances: Due to the short-term nature of the financial 2022 except for the other financial assets (current and non-
instruments. current portions) disclosed in Note 22.
• Interest bearing loan: The interest rate charged on the loan
Fair value hierarchy
is in line with market interest rates charged on similar loans
The other financial assets (current and non-current portions)
and the Company’s default risk is remote.
presented in Note 22 is classified under Level 2 for the purpose of
Typically, the fair value of financial instruments that are traded the fair value hierarchy. The Company does not have other items
publicly is determined based on market prices quoted at the end measured at fair value as at year-end for which the fair value
of the reporting period. hierarchy disclosures are required.
For the Company’s other financial assets (current and non- SONIA interest rates have been used in replacement of previously
current portions), IFRS 13 requires the Company to classify fair used LIBOR interest rates in the fair value valuation. The weighted
value measurements using a fair value hierarchy that reflects the average rate for 2020 is 3.1779% (2021: 0.1141%).
significance of the inputs used in making the measurements.
Below describes the impact of changes in the fair value measurement in comparison to carrying amounts at amortised costs, due to
the possible shift of significant observable inputs.
There were no movements in the fair value hierarchy during the year.

Carrying Amount (by measurement basis)
Figures in TZS’000 Fair Value Fair Value

Amortised Cost Total
Level 1 Level 2
Fair values as of 31 December 2022
Current financial assets
Cash and cash equivalents 105,512,644 - - 105,512,644
Trade receivables 53,561,114 - - 53,561,114

Other current financial assets 600,000 - - 600,000
Non-current financial assets

Other non-current financial assets - - 556,321 556,321
Current financial liabilities

Trade payables - third parties 59,557,027 - - 59,557,027
Trade payables – intercompany 3,968,080 - - 3,968,080
Accruals 6,556,518 - - 6,556,518
Non-current financial liabilities
Non-current liabilities at amortised cost 20,821,790 - - 20,821,790
Fair values as of 31 December 2021

Current financial assets
Cash and cash equivalents 114,278,364 - - 114,278,364
Trade receivables 46,277,317 - - 46,277,317
Other current financial assets 600,000 - - 600,000
Non-current financial assets

Other non-current financial assets - - 795,093 795,093
Current financial liabilities

Trade payables - third parties 51,116,820 - - 51,116,820
Trade payables – intercompany 825,230 - - 825,230
Accruals 9,815,956 - - 9,815,956
Non-current financial liabilities

Non-current liabilities at amortised cost 19,545,101 - - 19,545,101


42. Financial Risk Management Continued

Other than the human toll and direct financial and operational
f. Capital management
impact on entities operating in Russia, Ukraine or in the

neighbouring countries, or otherwise having significant business
The primary objective of the Company’s capital management is
links there, the war also has, and continues to, negatively affect
to maximise shareholder value. In order to achieve this overall
businesses in various parts of the world. This includes restrictions
objective, the Company’s capital management, amongst other
to imports and exports, disruptions in global and regional supply
things, aims to ensure that it meets financial covenants attached
chains, increased commodity prices, and fluctuations in foreign
to the interest-bearing loans and borrowings that define capital
exchange rates.
structure requirements. There have been no breaches in the
financial covenants of any interest-bearing loans in the current
As it is for other businesses, the war in Ukraine and its direct and
period.
indirect consequences could indirectly impact the Company, for
instance, as a result of exposure to fluctuations in commodity
The Company manages its capital structure and makes
prices.
adjustments in light of changes in economic conditions and the
requirements of the financial covenants. To maintain or adjust
As the war continues and new sanctions are introduced the
the capital structure, the Company may adjust the dividend
overall impact remains fluid. Whilst the Company does not have
payment to shareholders, return capital to shareholders or issue
operations in either Russia or Ukraine, a review was undertaken
new shares. The Company monitors capital using a gearing
by management to assess any consequences on the financial
ratio, which is net debt divided by total capital plus net debt. The
statements arising from the conflict or from the resulting
Company’s policy is to keep the gearing ratio below 35%. The
sanctions imposed on Russia and Belarus. It was concluded that,
Company includes within net debt, interest-bearing loans and
so far, there is no material impact on the financial statements
borrowings, trade and other payables, less cash, and short-term
for the year ended 31 December 2022 as the Company does
deposits, excluding discontinued operations.
not trade with Russia or Ukraine; and there were no substantial
changes in management’s significant assumptions and
No changes were made in the objectives, policies, or processes
judgements. The Company will continue to monitor the situation
for managing capital during the years ended 31 December 2022
and frequently assess and evaluate the effect of the increased
and 31 December 2021 and there are no externally imposed
sanctions or other consequences of the war, and design the most
capital requirements.
appropriate ways and means to reduce its impact.
The gearing ratio remained the same at 0% as of 31 December 44. Events After The Reporting Date
2022 (2021: 0%), as the Company does not have any debt.
There were no other events after the reporting date which require
adjustment to or disclosure in the financial statements.
43. War In Ukraine
The war in Ukraine started in February 2022. Many countries have 45. Approval Of Financial Statements
imposed, and continue to impose, new sanctions on specified
The financial statements were authorised for issue by the Board
Russian entities and individuals; and a number of businesses that
of Directors on the date shown on the statement of financial
operated in Russia until the start of the war have since pulled out
position on page 100. They are subject to approval by the
from the country.
shareholders during the Annual General Meeting.

COMPANY INFORMATION
REGISTERED OFFICE AND PRINCIPAL LEGAL ADVISORS

PLACE OF BUSINESS Law Associates Advocates
Tanzania Portland Cement Public Limited Company CRDB Building, Wing B
Tegeta, Wazo Hill Azikiwe Street
P.O. Box 1950 P.O. Box 11133
Dar es Salaam, Tanzania Dar es Salaam, Tanzania
FB Attorneys
GROUP COMPANY NAME
Amani Place,
HeidelbergMaterials
Ohio Street
Berliner Straße 6
P.O. Box 19813
69120 Heidelberg P.O. Box 268
Germany
AUDITOR
COMPANY SECRETARY PricewaterhouseCoopers
Mr Brian Kangetta Pemba House
Ngara Area, Parklands 369 Toure Drive
P.O. Box 76491 - 00508 Oyster Bay
Nairobi, Kenya P.O. Box 45
BANKERS
Citibank (T) Limited
Plot 1962, Toure Drive, Oysterbay
P.O. Box 71625
CRDB Bank PLC

PPF Tower
P.O. Box 268
Ecobank Tanzania
84, Acacia Building, Kinondoni Road,
P.O Box 20500
NMB Bank PLC

Tegeta Branch-Kibo Commercial Complex,
P.O Box 9213,

TANZANIA PORTLAND CEMENT PUBLIC
LIMITED COMPANY
Tegeta, Wazo Hill,

P. O. Box 1950,
Dar Es Salaam,
Tanzania
+255 746 810930
[email protected]

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2022 Annual Report

“Accelerating Sustainable Alternatives”

TANZANIA PORTLAND CEMENT PUBLIC LIMITED COMPANY

2 Chairman and Managing Director Statements 4 Reports to Our Shareholders

Chairman’s Statement 8 The Report By Those Charged With Governance 46

“In 2022, we achieved our best

2 Tanzania Portland Cement PLC

Mr. Hakan Gurdal

Mr. Hakan Gurdal

Annual Report 20223

TPCPLC, 5 years outlook

“Since 2018, TPCPLC has continued to make a record each

Revenue Development +10.8%

+10.8% CAGR 328.5 348.8

2018 2019 2020 2021 2022

CAGR* Operating Profit

2018 2019 2020 2021 2022

CAGR* Profit for the year

Earning per share +14.4%

CAGR* Profit for the year

2018 2019 2020 2021 2022

*CAGR - Compound Annual Growth Rate

4 Tanzania Portland Cement PLC

TPCPLC, 2022 Business Performance

“2022, was another record breaking year, in production, sales,

Revenue +10.1% Revenue per product (TZS billion)

TZS 494.7 billion

TZS 135.9 billion

0 Lost Time Injury (LTI)

TZS 390 per share 257 FTE

*All comparisons are compared to the previous year.

Annual Report 20225

Chairman and Managing

6 Tanzania Portland Cement PLC

Annual Report 20227

In numerous aspects, the year 2022 was an exceptional

I convey my sincere gratitude to all our employees

Through our high-performance culture, we have

As in previous years, TPCPLC has continued to leverage

transformation by implementing of our employees. Our participation in the AEM

8 Tanzania Portland Cement PLC

“TPCPLC awarded the AEM Brainstorming Award for Innovation in 2022.”

Annual Report 20229

Kwa nyanja nyingi, mwaka wa 2022 ulikuwa mwaka

Natoa shukrani zangu za dhati kwa wafanyakazi

Kupitia utamaduni wetu wa utendakazi wa hali ya juu,

Kama ilivyokuwa miaka iliyopita, TPCPLC imeendelea

ya mabadiliko ya hali ya hewa mpango wa AEM Brainstorming ulitoa jukwaa kwa

ikiwa ni pamoja na matumizi ya AEM mwaka wa 2022.

10 Tanzania Portland Cement PLC

Mauzo na usambazaji wa saruji uliongezeka asilimia 10% na 5%

Annual Report 202211

Managing Director Statement

“TPCPLC sets new standards for eco-friendly

“Our strong customer base

Year 2022 was yet another record year for TPCPLC.

12 Tanzania Portland Cement PLC

In 2022, TPCPLC recorded a profit of TZS 97.4 billion after taxes,

Annual Report 202213

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