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SUBSIDIARY NAME

BWANJE CEMENT COMPANY LTD

COUNTRY

MALAWI

SECTOR/ INDUSTRY

CONSTRUCTION

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

May 10, 2022

ACQUISITION VALUATION

195 MILLION

TOTAL ASSET VALUATION

1.95 BILLION

REAL ESTATE

BWANJE CEMENT COMPANY LTD: IIB-DG BWANJE CEMENT COMPANY LTD on MAY 10, 2022. The purpose of this project is to construct cement plant. The factory will be capable of producing a total of 400 000 metric tons per year of high grade clinker which will be used to produce both grade 32.5N and 42.5 N cements on site and will also be used to supply clinker to the grinding plant near Lilongwe. A total of 107 permanent personnel will be employed by the integrated plant with up to 100 more contract personnel.

The Integrated plant alone returns gross profits of up to 50 % over the 7-year period reviewed from 2025. The profit before tax increases from USD 6.6 million in the first year of operation to 32.4 million in 7 years by which time the plant is operating at 89 % utilization on clinker production and 65 % on cement production.

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