| Company type | Public limited company |
|---|---|
| DSE: TCC | |
| ISIN | TZ1996100032 |
| Industry | Tobacco |
| Founded | 1961 |
| Headquarters | Dar es salaam, Tanzania |
Area served | Tanzania and Neighboring countries |
Key people | Mr. Takashi Araki (Chairman & CEO) |
| Products | Cigarettes |
| Revenue | 
TSh 499.5 billion (2016) |
 TSh 95.3 billion (2016) | |
| TSh 68.7 billion (2016) | |
Number of employees | 445+ [1] |
| Parent | Japan Tobacco International |
| Subsidiaries | TCC (Kenya) Ltd. |
| Website | TCC PLC Profile |
Tanzania Cigarette Company Ltd. ("TCC"; DSE: TCC) is a tobacco company operating in Tanzania. The company started operations in 1961 as the East African Tobacco. Years later the government bought a large stake in the company and nationalized the company during the Ujamaa movement in 1975. [2] [3]
TCC has been listed on the Dar es Salaam Stock Exchange since 16 November 2000. 75% of the company is owned by Japan Tobacco International. [4]
History
Incorporation
The Company was established as East African Tobacco in 1961. [3] The factory was officially opened by Mwalimu Julius K. Nyerere on December 4, 1961. [5] The Company now British American Tobacco (BAT) operated the company post-independence. In 1967, the government of Tanzania acquired a 60% stake in the company. During the socialist movement in Tanzania, in 1975 the government acquired the renaming 40% of the stake from the company and becomes the sole owner of the company. The company is renamed to Tanzania Cigarette Company ltd. [5]
Privatization
After years of poor operation and management, the government sells 51% of its stake in the company to RJ Reynolds in 1995. As part of its purchase of some of the assets of RJ Reynolds in 1999, Japan Tobacco Inc. (JT) acquired a 51% interest in TCC. In September 2000, JT purchased an additional 24% of the shares through its international tobacco division, Japan Tobacco International (JTI), increasing its holdings to 75% of the shares. [3] [6]
Public offering
Months after the acquisition of TCC by Japan Tobacco International, TCC was listed on the Dar Brouse with JTI still holding a 75% majority stake.
Corporate affairs
TCC is the only producer of cigarettes in the country. In 2011 TCC brands conquer 90% of the Tanzanian market, while 5% is controlled by British American Tobacco whose factory is in neighboring Kenya, and 5% by foreign brands. [7]
Ownership
Tanzania Cigarette Company (TCC:DSE) is traded on the Stock Exchange since November 2000. Japan Tobacco International has held majority stake of 75% since September 2000.
[8]
As of December 2016
[update] the stock of TCC is owned by the following institutions:
[5]
| Shareholder | Interest |
|---|---|
| JT International Holding B.V. | 75.0% |
| Kingsway Fund | 9.3% |
| General Public | 7.0% |
| Parastatal Pension Fund (PPF) | 3.0% |
| Government of Tanzania | 2.2% |
| Public Service Pension Fund (PSPF) | 1.0% |
| Others | 2.5% |
Business trends
Below are the recent business trends for TCC. TCC financial year ends on 31 December.
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|---|---|
| Gross Turnover ( TSh million) | 321,777 | 376,778 | 422,594 | 445,633 | 461,720 | 496,675 | 499,457 |
| Net Sales ( TSh million) | 211,008 | 250,344 | 281,419 | 290,601 | 283,910 | 300,550 | 300,962 |
| Net Income ( TSh million) | 60,200 | 70,942 | 85,941 | 78,058 | 68,600 | 65,711 | 68,669 |
| Debt Ratio (TL/TA) | 27% | 27% | 27% | 27% | 28% | 24% | 27% |
| Dividend per share ( TSh) | 300/= | 600/= | 750/= | 750/= | 650/= | 600/= | 600/= |
| Notes/sources | [5] | [5] | [5] | [5] [9] | [5] [10] | [11] | [5] [10] |
Brands
- Embassy - Registered in January, 1948 in Tanganyika in the name of Brit-Am Tobacco (Tanzania) Limited.
- Sweet Menthol (SM) - Launched in 1961 during incorporation.
- Portsman - Formerly Sportsman
- Club - Launched in 1998
- Safari - Launched in 2005
- Camel - Originally the American brand introduced in Tanzania by TCC.
- Iceberg - Premium Menthol cigarette launched in 2008
See also
References
- ^ "Tanzania Cigarette Company Limited Summary". Credit Risk Monitor. Retrieved 23 July 2015.
- ^ Greenberger, Robert S. "New Leaders Replace 'Big Men' As Privatization Sweeps Africa". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-02-14.
- ^ a b c "TCC – Tanzania Cigarette Company". JTI. Japan Tobacco International. Retrieved 23 July 2015.
- ^ "Listed Companies". DSE-TZ. DSE. Archived from the original on 1 August 2015. Retrieved 23 July 2015.
- ^ a b c d e f g h i "TCC Annual Report 2014" (PDF). Dar-es-salaam Stock Exchange. Retrieved 23 July 2015.
- ^ "Company Overview of Tanzania Cigarette Company Limited". Bloomberg Business. Bloomberg. Retrieved 23 July 2015.
- ^ "Tanzania Tobacco Profile" (PDF). who.int. World Health Organization. Archived from the original (PDF) on October 29, 2013. Retrieved 23 July 2015.
- ^ "Tanzania Cigarette Company Limited (Exchange: DES Ticker: TCC)". African Select. Retrieved 23 July 2015.
- ^ "TANZANIA CIGARETTE COMPANY LTD REPORTS A 9.2% DECLINE IN PROFIT". Corporate Digest. 18 March 2013. Retrieved 23 July 2015.
- ^ a b "Tanzania Cigarette Company Overview". WSJ Quotes. Wall Street Journal. Retrieved 23 July 2015.
- ^ "TCC Annual Report 2016" (PDF). Dar es Salaam Stock Exchange.
External links
| International | |
|---|---|
| National | |
