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TCC pumping Tsh 200m into tobacco land annually
2006-06-14 09:57:33
By Mgeta Mganga
The Tanzania Cigarette Company (TCC) will yearly commit Tsh.200 in supporting tree-planting programme around tobacco growing areas in Tanzania.
The pledge was announced last week by the President and CEO of JT International, Mr. Pierre de Labouchere in the presence of the Minister of State, Vice President Office Responsible for Environment, Prof Mark Mwandosya. JT International (JTI) is TCC’s parent company.
The company’s recent commitment is in conformity with the incumbent administration’s practical efforts to conserving the environment. The traditional process of curing tobacco involves enormous use of wood as fuel; hence wide-scale clearing of trees is an essential industry activity.
’’TCC recognizes its responsibility towards the environment and places a high priority on its protection’’, said Pierre de Labouchere.
He added that TCC already had in place a comprehensive Environmental Health and Safety program that aims to minimize waste,cut emissions, conserve energy and avoid accidents at work.
The tree planting program is currently on the drawing boards and its implementation would involve other tobacco stakeholders in the country.
Actual tree planting is expected to begin during the next tobacco season.
It is envisaged that the program will include planting over eight million trees in various tobacco growing areas in the country over the next four years.
TCC would assign Tsh.200m annually towards the project to make it sustainable.
Expressing appreciation on behalf of the government, Prof Mwandosya highlighted the critical role of the private sector in supporting environmental initiatives.
Privatized in 1995, TCC is one of the largest agro-based industries in Tanzania, providing direct employment to 670 Tanzanians and indirectly supports over 85,000 tobacco farmers and 2,500 distributors and retailers.
Its shares are listed on the Dar es Salaam Stock Exchange (DSE) and belong to the blue chip category. Up to 2nd June this year, its share price was the highest on DSE, commanding Tsh.1,500 per share.
The company is also one of the largest tax payers in the country, contributing about 5-6 percent of the domestic tax revenues. JT International is the majority owner of TCC, holding 75 percent of its total stakes.
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