Gamma Civic Ltd and Cemindo Gemilang Acquire Cementis Madagascar, Launching Alpha Ciment S.A

Contrary to prevailing skepticism about the business climate in Madagascar, the Mauritian group Gamma Civic Ltd and its strategic partner, Indonesia's Cemindo Gemilang, have successfully completed the acquisition of Cementis Madagascar. This venture leads to the formation of Alpha Ciment S.A, a new entity poised to redefine the cement market in Madagascar. This acquisition aligns with the recent investment and industrial programming law, signaling a robust vote of confidence in Madagascar's economic potential and possibly setting a precedent for further investments.

Gamma Civic Ltd, a company listed on the Mauritius stock exchange with 25 years of experience in the construction materials market in Mauritius, expanded its footprint to Madagascar in 2021 through its subsidiary Kolos Madagascar, introducing the Mafonja brand. Cemindo Gemilang, a significant industrial player in Indonesia, brings to the table extensive technical expertise with eight factories in Indonesia and one in Vietnam, boasting an annual production capacity of 15 million tons of cement and 10 million tons of clinker.

The partnership between these two seasoned entities promises a blend of experience, technical skills, and financial capabilities that are expected to fast-track development projects in Madagascar. Alpha Ciment S.A prioritizes the modernization of cement production facilities, with Vincent Blanchet set to lead the company, succeeding interim General Manager Dominique Billon.

The establishment of Alpha Ciment S.A is anticipated to significantly reduce cement imports, which were estimated at 800,000 tons in 2023, thereby positively impacting the trade balance. This move aligns with the Ministry of Industrialization's vision, fitting perfectly into the "One District, One Factory" project, and heralds a transformative phase in Madagascar's industrial landscape.

Source: L'Express de Madagascar