Tanga Cement Raises TZS 203.74bn

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Tanga Cement raised TZS 203.74 billion through a fully subscribed rights issue, adding more than TZS 127 million new shares to the Dar es Salaam Stock Exchange and marking Tanzania’s largest rights offer to date. Executives from the DSE and CMSA said the result demonstrates strong investor confidence and increased market capacity. The company plans to use the funds to strengthen its balance sheet, reduce debt, expand production, and support its long-term growth strategy.