The Dar es Salaam-based company which also exports its products to DR Congo, Mauritius, Mozambique, Namibia and Zambia, has also maintained profitability. TCC Managing Director and CEO Michal Bachan told Dar es Salaam this week that domestic and export volumes increased by 16.5% and 3.7% respectively, while overall volume increased. by 12.5% this year.
“This volume growth reflects the strength of the revised national distribution model. With these results, the company is optimistic about the second half results in December 2021, ”said Bachan.
He said that over the past six decades, the cigarette maker has maintained its dominance in the domestic market with more than 90 percent of the shares. “This year TCC (Plc) is celebrating 60 years in style as we continue to deliver excellent results. Despite the challenges related to the coronavirus epidemic over the past two years, the company recorded an exceptional performance in the first half of the year, ”he said.
He attributed the outstanding performance to the unwavering commitment of TCC’s workforce who constitute the organization’s number one asset with an invaluable contribution to the business.
“TCC is focused on investing in the health, well-being and talent of people. We have improved the working dynamics and raised the level that has been recognized both nationally and internationally. This has led to countless accolades for our company, ”noted the Managing Director and CEO of TCC, referring to the Best Employer award that the company has won four consecutive years from the Tanzania Employers Association. .
Seconding her boss, TCC’s business and communications director, Patricia Mhondo said the company owned by Japan Tobacco International continues to invest in technology, human capital and production expansion.
“As we continue to grow, our contribution to government has also increased to an annual average of over $ 200 billion / – in tax payments to the treasury,” Mhodo said while acknowledging that the company had faced challenges during last year’s peak of the Covid-19 epidemic. .
CBT has a strong history in Tanzania as it was officially launched by Mwalimu Julius Nyerere on December 4, 1961, days before Tanzania was declared an independent nation by Britain. It was therefore the milestone of Mwalimu to symbolize the end of colonial administration.
The company’s timeline of success shows a huge history of how it has progressed over the decades on its solid foundation. In 1967, when the country adopted the Arusha Declaration, the government nationalized the company by acquiring a 60% stake in British American Tobacco. In 1975, the Treasury acquired the remaining 40 percent to become the sole owner of the company.
When the country returned to a free market economy in 1999, Japan Tobacco International (JTI) bought the 51 percent stake in the Treasury and in 2000 the company was listed on the Dar es Salaam Stock Exchange where JTI rose its 75 percent stake. Since then, the value of TCC shares has grown steadily to become the most valuable on DSE.
TCC’s contribution and overall performance has been consistent over the years, reaching a production capacity of around 10 billion sticks per year while maintaining an average market share of 90 percent over the past 18 months.
Over the years, the strong leadership and determined investment in people has paved the way for 25 Tanzanians to work on international assignments in different positions outside the country as Vice President, Directors and Managers, in countries such as Switzerland, United Kingdom, Canada, Nigeria, Zambia, Malawi, Sudan, Geneva, Iran, Jordan, Ethiopia and United Arab Emirates.
TCC (plc) continues to give back to the community directly and indirectly through partnerships with social and cultural partners to promote holistic and inclusive sustainable transformation of livelihoods.
Over the past 12 months, TCC has supported various economic empowerment and poverty reduction programs, the donation of assistive devices to people with disabilities, and programs in the arts and culture. “The company donated 2,326 assistive devices (213 tricycles, 937 pairs of crutches and 1,176 white canes) to people with disabilities,” says TCC’s biannual report.
They also supported 29 groups of disadvantaged women and young adults with facilities (155 sewing machines, 5 oil presses, 3 corn mills and 2 vibrators for brick making) to improve their businesses.
“The company is proud to have sponsored more than 100 arts and culture students to study at Bagamoyo College of Arts at certificate and diploma level,” the company said, revealing that from next year, by Together with the Japanese Embassy, it will support a scholarship program for Tanzanians qualified to study for masters courses in Japan.