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Tanzania Cigarette Public Limited Company

Company type	Public limited company
Traded as	DSE: TCC
ISIN	TZ1996100032
Industry	Tobacco
Founded	1961; 63 years ago (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)
Operating income	TSh 95.3 billion (2016)
Net income	TSh 68.7 billion (2016)
Number of employees	445+
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.

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.

History

Incorporation

The Company was established as East African Tobacco in 1961. The factory was officially opened by Mwalimu Julius K. Nyerere on December 4, 1961. 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.

Privatization

After years of poor operation and management, the government sold 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.

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

Brands

In 2005 a dispute over the "Supermatch" trademark was resolved against Burundi Tobacco Company (BTC) by the High Court of Tanzania. BTC had resistered the trademark in 1990, but did not renew it when it expired in 1997. TCC applied to register "Supermatch" as its trademark, but was refused by the Registrar. In 2002 BTC said it assigned the trademark to Mastermind Tobacco (Tanzania). The court ruled to BTC had abandoned the trademark, which should be granted to TCC.

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.

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.
As of December 2016 the stock of TCC is owned by the following institutions:

Business trends

Below are the recent business trends for TCC. TCC financial year ends on 31 December.

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

• Dar es Salaam Stock Exchange
• Japan Tobacco International
• British American Tobacco

References

1. "Tanzania Cigarette Company Limited Summary". Credit Risk Monitor. Retrieved 23 July 2015.
2. Greenberger, Robert S. "New Leaders Replace 'Big Men' As Privatization Sweeps Africa". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-02-14.
3. ^ "TCC – Tanzania Cigarette Company". JTI. Japan Tobacco International. Retrieved 23 July 2015.
4. "Listed Companies". DSE-TZ. DSE. Archived from the original on 1 August 2015. Retrieved 23 July 2015.
5. ^ "TCC Annual Report 2014" (PDF). Dar-es-salaam Stock Exchange. Retrieved 23 July 2015.
6. "Company Overview of Tanzania Cigarette Company Limited". Bloomberg Business. Bloomberg. Retrieved 23 July 2015.
7. Tanzania Cigarette Company 2005.
8. "Tanzania Tobacco Profile" (PDF). who.int. World Health Organization. Archived from the original (PDF) on October 29, 2013. Retrieved 23 July 2015.
9. "Tanzania Cigarette Company Limited (Exchange: DES Ticker: TCC)". African Select. Retrieved 23 July 2015.
10. "TANZANIA CIGARETTE COMPANY LTD REPORTS A 9.2% DECLINE IN PROFIT". Corporate Digest. 18 March 2013. Retrieved 23 July 2015.
11. ^ "Tanzania Cigarette Company Overview". WSJ Quotes. Wall Street Journal. Retrieved 23 July 2015.
12. "TCC Annual Report 2016" (PDF). Dar es Salaam Stock Exchange.

Sources

• Tanzania Cigarette Company Limited vs Burundi Tobacco Company Limited (PDF), High Court of Tanzania, 22 July 2005, retrieved 2024-06-29

External links

• Tanzania
• Companies
• Africa

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