Cement News tagged under: Zimbabwe
Capex falls behind targets for PPC04 April 2024, Published under Cement NewsPPC has announced that its capital expenditure fell behind targets for the period ending March 2024. This was due to a delay in the company’s fly ash project in Zimbabwe, which was announced last November. Delays in accessing the power plant, which halted the design and commercial contract, were also a key factor. PPC stated that, “Capital expenditure for the group remains behind the guidance of ZAR600m [US$32.2m] for the full financial year mainly due to the delay of the fly ash projec... |
PPC's success in Zimbabwe is contrasted by surrounding regions29 March 2024, Published under Cement NewsSouth Africa-based cement manufacturer PPC Cement SA (PTY) Ltd has announced that its operations in Zimbabwe are now debt free, with EBITDA improving 13.6 per cent, for the 10-month period ending January 2024). However, in contrast, sales volumes for its South Africa and Botswana operations fell by four per cent when compared to the equivalent period in the previous year. A spokesperson for PPC said, “Sales volumes in the coastal region experienced a sharper decline than in the inland ... |
Zimbabwe ends cement import licences08 March 2024, Published under Cement NewsThe Zimbabwean government has ended the issuance of cement imports. The licences were first introduced in October 2023 to help curb the artificial shortage of cement as prices spiralled out of control, reports The Chronicle. With the price of a 50kg bag of cement jumping from US$9 to US$20, the country’s largest infrastructure projects were in danger of significant delays. To address the issue, the government allowed companies and individuals to import up to 5t of cement without the n... |
Zimbabwe announces new cement plant05 January 2024, Published under Cement NewsA new US$1bn cement plant project has been launched in Karoi Town, Zimbabwe. The project, which is being funded by Chinese investors, will be completed within the next two years and marks a partnership between Labenmon Investments (Pvt) Ltd and West International Holding, according to The Zimbabwe Mail. The new facility will include a 2.7Mta dry-process clinker cement production line, a 100MW power generation unit and a 0.9Mta cement grinding station. “West International Holding has t... |
Cement shortage hits Zimbabwean economy04 January 2024, Published under Cement NewsZimbabwe’s economic growth in the third quarter of 2023 was hit by a shortage of cement, according to local news source, Chronicle. The country’s economy grew by just 1.3 per cent over the three-month period, reports the Zimbabwe National Statistics Agency, driven by a 36.7 per cent slowdown in construction activity, which was reportedly due to a lack of cement supplies. Plant breakdowns and scheduled maintenance meant that local producers, including PPC Zimbabwe , Khaya Cement and Si... |
Zimbabwe import licence scheme drives down prices23 November 2023, Published under Cement NewsOn 10 November 2023 CemNet reported on how the Zimbabwean government has issued cement import licences to ensure supply while two of the country’s leading cement producers dealt with production issues. According to The Herald, the scheme is already bearing fruit with imports of 149,000t of cement not only helping to clear the backlog of demand, but also driving down cement prices in the country. The government reportedly approved 665 applications for cement imports from manufacturers, ... |
Aggregate Industries appoints group strategy and commercial growth director23 November 2023, Published under Cement NewsAggregate Industries , part of Holcim , has appointed Kaziwe Kaulule as its new group strategy and commercial growth director. With a career spanning over 19 years with the Holcim Group, Mr Kaulule brings extensive experience to the role, including operations, digital transformation, business development, and mergers and acquisitions. His most recent role was as chief executive officer (CEO) at Lafarge Industries South Africa . He has also served as CEO at Lafarge Cement Zimbabwe and h... |
Zimbabwe drives PPC's positive outlook14 November 2023, Published under Cement NewsSouth Africa’s PPC has said it expects positive earnings for the six months ended 30 September, 2023. According to news service Pindula, the company has forecast a growth rate of 25.5-26.5 per cent in its headline earnings per share, compared to a headline loss of ZAR0.06 (US$0.003) during the same period last year. Its earnings per share are also predicted to advance by 21-25 per cent from a loss of ZAR0.30 per share in the same period a year earlier. The positive outlook has been attr... |
Zimbabwe issues import licences to meet demand10 November 2023, Published under Cement NewsThe Zimbabwean government has issued cement import licences to ensure supply while two of the country’s leading cement producers deal with production issues. According to ZimEye, Lafarge and Sino-Zimbabwean Cement Co are currently experiencing production problems so have been issued with import licences to ensure the country is not left short of cement. Zimbabwe is home to a total cement production capacity of around 2.6Mta, but demand has been rising steadily on the back of a cons... |
PPC Zimbabwe managing director steps down19 October 2023, Published under Cement NewsPPC Zimbabwe Ltd has announced the resignation of its managing director, Kelibone Masiyane. Mr Masiyane joined the company in 1994 as a trainee electrical engineer at the Colleen Bawn plant, before becoming manager of both that and the Bulawayo plant in 2009. He was appointed managing director of PPC in 2016, reports Chronicle. “After 29 years of service at PPC Zimbabwe Limited, seven years of which were spent at the helm of the company, Mr Kelibone Masiyane informed the board of the... |