Kenya’s national carrier Kenya Airways (KQ) announced it had kicked off direct flights from South Sudan Capital Juba to Khartoum. KQ said in a statement that the new flight will originate from the Jomo Kenyatta International Airport (JKIA) in Nairobi flying to Khartoum via Juba and back to Nairobi every Wednesday and Sunday. KQ will also […]
Rwanda's CIMERWA has registered an after-tax profit of RWF4.1bn (US$3.95m) for the year ended September 2021, up 115.8 per cent compared to RWF1.9bn in.
Cimerwa reports revenue increase in FY19-20 15 December 2020
Rwanda’s Cimerwa has seen its revenue increase one per cent YoY to RWF63bn (US$63.79m) in the financial year ended September 2020. Profit after tax reached RWF1.9bn, while EBITDA was at RWF1.95bn for the FY19-20.
During the year, Cimerwa produced and sold 421,000t of cement, an improvement on the previous fiscal despite a 40-day shutdown on cement production due to the effects of COVID-19. There has been an increased demand from a number of large infrastructure projects, such as the classroom project, Kigali Road Network expansion, real estate projects among others. There has been a lot of drive to achieve the urbanisation targets, which has driven up demand for cement and resulted in a better performance for us, said John Bugunya, CFO.