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Home Africa

Lafarge Zimbabwe blames market shortage of foreign currency exchange issues

FurtherAfrica by FurtherAfrica
October 5, 2018
in Africa, Cement, Commodities, Construction, Currency, Economy, Finance, Zimbabwe
Reading Time: 1 min read
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Edith Matekaire, the commercial director of Lafarge Zimbabwe, has blamed a backlog of foreign currency exchange as the cause of a shortage of cement. The US$2m backlog has caused plant maintenance shutdowns to take longer than they normally would, according to the Herald newspaper. Due to the lack of adequate funding, the shutdowns have been forced to take place during periods of peak production, causing effects in the market.

Despite this, Matekaire said that the local cement sector has more than enough production capacity to meet customers’ needs. Demand is 1.3Mt/yr and cement production is 2.4Mt/yr. Demand is only expected to exceed production from 2020 onwards.

Source: global cement

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Tags: Cementconstructioncurrency exchangeEdith MatekaireFeatureforeign currency exchangeforexLafargeLafarge Zimbabwemarket shortageMatekairepeak productionthe commercial director of Lafarge Zimbabwezimbabweзимбабвеزيمبابويジンバブエ津巴布韦
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Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

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