africa Cement commodities construction Currency Economy Finance Zimbabwe

Lafarge Zimbabwe blames market shortage of foreign currency exchange issues

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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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