Cement News tagged under: PPC Zimbabwe

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PPC Zimbabwe forecasts 25% rise in domestic cement demand

25 March 2022, Published under Cement News

PPC Zimbabwe has projected a 25 per cent increase in cement demand in the local market spurred by government funded projects and rising retail demand. Zimbabwe’s government attributes the increase in cement demand to the sharp rise in housing construction and private sector-led infrastructural development programmes that have pushed demand for Zimbabwe’s cement makers. In an operational update for the 12 months ending 31 March 2022, PPC Zimbabwe said the local operations continue to ...

PPC Zimbabwe expects to repay legacy debt in FY22

23 July 2021, Published under Cement News

PPC Zimbabwe has acknowledged the receipt of US$11.2m under a legacy debts repayment facility. The company had accrued a US$21m debt due to cash flows generated in the country by foreign entities that could not be repatriated to foreign suppliers due to foreign exchange shortages. However, the cement producer’s debt repayments were boosted by a 2019 move from Reserve Bank of Zimbabwe to assume legacy foreign debts. The company has also announced that it expects to conclude repayments o...

Financial restructuring positions PCC for long-term recovery

25 June 2021, Published under Cement News

Competent management is transforming PPC's prospects for the better. Under CEO Roland van Wijnen, the company has deconsolidated the company's Democratic Republic of Congo (DRC) operations, significantly de-risking the business, and improved its gearing with the sale of its lime business. Together with the tail wind provided by volume recovery in the core South African market, which has enabled the company to meet its interest payments, the JSE-listed cement producer may now be in a ...

PPC sees rise in sales volumes in the 3Q20

16 November 2020, Published under Cement News

South Africa’s PPC has announced that its cement sales volumes increased 20-25 per cent YoY in the third quarter of 2020. "This trend has continued in October with strong cement sales volumes experienced for the month, up 15-20 per cent compared with the same period last year," said the group in an operational update. The rise in sales has been attributed to individual consumers instead of construction companies. In July-September 2020, sales volumes in PPC Zimbabwe and PPC Barnet i...

PPC Zimbabwe to establish 32MW solar plant

06 July 2020, Published under Cement News

PPC Zimbabwe has found an investor for its project to establish a 32MW solar plant at its Colleen Bawn plant in Matabeleland South province. Half of the plant’s output will be used for the company’s cement manufacturing operations, while the other half will be supplied to the national power grid. The construction of the project is expected to last around 18 months.

PPC Zimbabwe's cement sales volumes fall by 25%

04 September 2019, Published under Cement News

PPC Cement's Zimbabwean cement sales volume contracted by 25-30 per cent in the four months ended 30 June 2019. The country has been hit by fuel and electricity shortages and other economic pressures. "Overall cement sales volumes contracted by between 25-30 per cent due to a weaker economic climate. Cement pricing, which was aligned with input cost inflation, was higher than the previous comparable period," PPC said. "Trading conditions in Zimbabwe remain challenging, due to liquidit...

PPC Zimbabwe calls on government to protect local cement production

21 March 2019, Published under Cement News

Zimbabwe’s largest cement producer, PPC Zimbabwe, has called on the government to pass legislation to protect domestically-produced cement from imports. Last year, the government lifted a two-year import bank on some basic commodities, including cement, to reduce the shortages that drove the public into panic buying. This has had a negative impact on local cement producer competitiveness, according to PPC Zimbabwe’s Managing Director, Kelibone Masiyane. “What really has rendered us uncom...

Zimbabwe's cement demand outpaces supply

07 September 2018, Published under Cement News

Zimbabwe is facing a cement shortage due to demand temporarily outpacing supply. The Confederation of Zimbabwe Industries (CZI) has demanded answers from the country's cement producers regarding the shortages. "We met the cement producers yesterday and they all said they are operating at full throttle. Sales are going on. Usual informal traders were taking advantage of the situation and hoarding cement for speculative purposes," said Sifelani Jabangwe, president of the CZI. As a result...

PPC Zimbabwe to keep Colleen Bawn plant open

15 February 2018, Published under Cement News

Pretoria Portland Cement (PPC), has cancelled plans to shut down its Colleen Bawn cement plant in Gwanda, Zimbabwe, following talks with the government. Late last year PPC Zimbabwe had suggested the possibility of closing the factory in Matabeleland, citing pressure from cheap imported clinker, smuggling of cement products and high local manufacturing costs. "We have continued to engage the Zimbabwean Government. PPC Zimbabwe appreciates the support we have so far received, as expressed...

PPC Zimbabwe reports loss of export competitiveness

09 February 2018, Published under Cement News

PPC Zimbabwe says the loss of export competitiveness is adversely affecting its operations and remains a risk to sustainable growth, reports the Chronicle. The fall in exports has been attributed to high production costs and cash shortages in the country. To counter the issue, the company has appealed to the Zimbabwe government to increase export incentives and protect firms against losses incurred when exporting to regional markets. “The cash shortage has adversely affected the compa...