The Dar es Salaam based company which also exports its products to DR Congo, Mauritius, Mozambique, Namibia and Zambia, has also maintained profitability. TCC’s General Manager and CEO, Michal Bachan said in Dar es Salaam this week that both domestic and export volumes have grown by 16.5 percent and 3.7 percent respectively while overall volume increased by 12.5 percent this year.
“This volume growth reflects the strength of the revised domestic distribution model. With these results, the company is optimistic about the results of the second half of the year in December 2021,” Bachan said.
He said over the past six decades, the cigarettes maker has maintained dominance of the domestic market with over 90 percent of the share. “This year, TCC (Plc) is celebrating 60 years of operations in style as we continue to record excellent results. Despite the coronavirus outbreak challenges over the past two years, the company has recorded an outstanding performance in the first half of the year,” he said.
He attributed the stellar performance to the unwavering commitment of TCC’s workforce which constitutes the number one asset to the organization with invaluable contribution to the business.
“TCC focuses on investing in people’s health, welfare and talent. We have enhanced the working dynamics and raised the standard which has been acknowledged both nationally and internationally. This has led to innumerable accolades for our company,” the TCC GM and CEO noted while referring to Best Employer award that the company has won four years in a row from Tanzania Employers Association. .
Seconding her boss, TCC’s Corporate Affairs and Communications Director, Patricia Mhondo said the company which is owned by Japan Tobacco International continues to invest in technology, human capital and expansion of production.
“As we continue to expand, our contribution to the government has also increased reaching an annual average of over 200bn/- in tax payment to Treasury,” Mhodo said while acknowledging that the company faced challenges during last year’s peak of the Covid-19 outbreak.
TCC has a strong history in Tanzania as it was officially launched by Mwalimu Julius Nyerere on December 4th, 1961, a few days before Tanzania was declared an independent nation by Britain. It was therefore Mwalimu’s milestone to symbolise an end of the colonial administration.
The chronology of the company’s success shows an enormous historical background of how it has progressed over the decades on its strong foundation. In 1967, when the country adopted the Arusha Declaration, the government nationalized the company acquiring 60 percent stake from British American Tobacco. In 1975 Treasury acquired the remaining 40 percent to become the sole owner of the company.
When the country bounced back to free market economies in 1999, Japan Tobacco International (JTI) bought the 51 percent stake from Treasury and in 2000, the company was listed on Dar es Salaam Stock Exchange where JTI increased its stake to 75 percent. Since then, the value of TCC’s shares has continued to grow to become the most valuable on DSE.
The overall contribution and performance of TCC has been consistent over the years reaching a production capacity of about 10 billion sticks per annum while maintaining an average of 90 percent market share over the past 18 months.
Over the years, the strong leadership and resolute 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 places such as Switzerland, UK, Canada, Nigeria, Zambia, Malawi, Sudan, Geneva, Iran, Jordan, Ethiopia and UAE.
TCC (plc) continues to give back to the community directly and indirectly through partnership with social and cultural partners to promote a holistic and inclusive sustainable transformation of livelihood.
In the past 12 months, TCC has supported various programs in economic empowerment and poverty alleviation, donation of assistive devices to people with disability and programs in arts and culture. “The company has donated 2,326 assistive devices (213 tricycles, 937 pairs of crutches and 1,176 white canes) to people with disabilities,” TCC’s half year report stated.
They have also supported 29 groups of less privileged women and young adults with facilities (155 sewing machines, 5 oil pressing machines, 3 maize mills machines and 2 vibrators for bricks making) to improve their businesses.
“The company prides on having sponsored over 100 students in arts and culture to study at Bagamoyo College of Arts at both certificate and diploma levels,” the company stated while unveiling that from next year, in collaboration with Embassy of Japan, it will support a scholarship program for qualified Tanzanians to study for Master’s degree courses in Japan.
