Forex shortage leads to cement scarcity in Malawi

Malawi’s Minister of Finance and Economic Planning, Sosten Gwengwe, has attributed the scarcity of cement in the country to a shortage of foreign currency. He was responding to a question in parliament of Rumphi West Member Yona Adadawiza Mkandawire who suggested that the government should encourage cement imports.

He said that the ministry has engaged the Reserve Bank to support local producers of cement and other key products. “It is these local producers who are generating forex, therefore they need to be supported to make sure stable supply markets and prices, Mr Gwengwe said.

“It is true that prices of cement escalated as other traders are selling as higher as MWK20,000 (US$19.04)/50kg. During the meeting between concerned stakeholders was resolved that a bag of cement should not exceed MWK16,000.”