Cement manufacturer CIMERWA posts record half-year revenue

Rwanda's cement manufacturer CIMERWA PPC has made significant strides in its half-year financial results, achieving a record revenue increase of over Rwf4 billion. In an exclusive interview with CNBC Africa, CIMERWA CEO Albert Sigei discussed the company's impressive performance and the future outlook for the cement industry in Rwanda and the Great Lakes region. The CEO highlighted the industry's potential for sustained growth and the challenges posed by global disruptions, such as the Russia-Ukraine conflict, supply chain distortions, and the ongoing COVID-19 pandemic. Sigei emphasized the need for continued infrastructure development to fuel the demand for cement in the region. With Rwanda's per capita cement consumption still relatively low compared to global standards, there remains ample room for expansion. He pointed to the infrastructure projects underway in Rwanda and across Africa, including the Africa Free Trade Area initiative, as catalysts for industry growth. Despite the current challenges, Sigei expressed optimism about the long-term prospects for the cement sector. He underscored the industry's resilience and its importance in supporting economic development and infrastructure maintenance. Sigei acknowledged the impact of global events on CIMERWA's operations, particularly the rise in input costs due to supply chain disruptions and increased transportation expenses. The company has implemented cost-saving measures and adjusted pricing to navigate these challenges. Looking ahead, Sigei emphasized the industry's role as a long-term investment, highlighting the demand for cement in ongoing and future infrastructure projects. He urged stakeholders to support the industry's growth trajectory and emphasized the need for stability and peace to ensure sustained development. In conclusion, CIMERWA's stellar financial performance reflects its commitment to excellence and innovation in the cement sector. As the company continues to navigate the evolving business landscape, it remains dedicated to meeting the growing demand for quality cement products in Rwanda and beyond.