Tanzania’s Tanga Cement Plc has secured an extended 15-month moratorium on its decade-long $142 milion debt to sustain its operations, amid rising pricing wars and high fuel prices in the Tanzanian cement market, which has pushed the cement maker into losses and a three-year dividend drought.
The firm disclosed in its latest annual report (2022) that it has “embarked on a restructuring/refinancing of its existing debt facilities aiming to ensure its long-term competitiveness and sustainability.”
