Cement News tagged under: Zimbabwe

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PPC posts better-than-expected 1H in Zimbabwe

25 November 2021, Published under Cement News

South Africa-based PPC has said its cement sales volume in Zimbabwe surpassed expectations as sales increased by 19 per cent in the six months to September as cement demand in the African country saw double-digit growth. Individual customers as well as government projects drove the increase in sold volumes. Compared with the equivalent period in 2019, PPC’s sales volumes advanced 31 per cent. As a result, revenue increased by 55 per cent to ZAR1.2bn (US$75.7m). PPC received US$2.7m in divide...

PPC not to raise capital and focus on growth

29 September 2021, Published under Cement News

South Africa-based PPC has successfully refinanced its debt and is close to finalising its restructuring. Therefore, the company will not require a capital raise, said its CEO, Roland van Wijnen. The new debt facilities of ZAR2.1bn have an extended maturity profile with the long-term facility of ZAR1.5bn being repayable over 3-5 years. The margins were reduced across all facilities to reflect PPC’s improved credit risk profile. “The organisation is now in calmer seas after a hectic 18 mo...

Lafarge Cement Zimbabwe's CEO steps down

15 September 2021, Published under Cement News

Lafarge Cement Zimbabwe Ltd has announced the resignation of its CEO, Precious Murena, with effect from 9 September. Precious Murena joined the company in 2011 and became CEO in 2020. Amr Elmowafy Aly Mowafy, currently Chief Financial Officer, will assume the role of Acting Chief Executive Officer in the interim until the appointment of the substantive CEO.

Cement prices rise in Zimbabwe

14 September 2021, Published under Cement News

Zimbabwe's construction sector appears to be on course for a revival, driven by public spending on infrastructure and private development. However, a recent increase in cement prices could restrict the recovery. On average, a 50kg bag, which ordinarily costs around US$10.50, is now around US$13. An intermittent supply of cement on the local market looks to be behind the high cement prices, according to The Herald. The price hike has resulted in a rise in cheap imports from the region, par...

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 reports 3% increase in revenue

22 June 2021, Published under Cement News

South Africa’s PPC has reported a three per cent YoY increase in group revenue for the year ended 31 March 2021, rising to ZAR8938m (US$626.07m) from ZAR8671m, due to a recovery in cement sales following the easing of lockdown restrictions. Opportunistic cement sales resulting from its ability to respond to an increase in demand in some markets also contributed to revenue growth. Excluding Zimbabwe, group revenue increased by seven per cent YoY, according to the group. "The group experienc...

Zimbabwean import ban raises supply concerns

07 April 2021, Published under Cement News

Zimbabwean retailers are concerned over the capacity of local cement companies to satisfy demand   after a cement import ban has been implemented. However, the government is keen to protect jobs and its import ban (SI 89 of 2021) has sparked fears that the move might trigger collusion among local cement producers, causing prices increases and cement shortages. "The local content policy strives to increase the consumption of local produce and it harnesses the creation of jobs so we than...

Lafarge Cement Zimbabwe diversifies product range

15 January 2021, Published under Cement News

Lafarge Cement Zimbabwe (LafargeHolcim group) has completed crucial test runs on a multi-million-dollar dry mortar plant as it aims to turn into a multi-product operation. Lafarge has also entered the tile adhesives range and several allied products to complement the cement operation, which faces stiff competition from imports and stronger domestic peers. The firm has mostly relied on cement production at its decades-old operation in Harare. However, Lafarge said its dry mortar factory...

Lafarge Zimbabwe records improvement in 3Q20

18 November 2020, Published under Cement News

Lafarge Cement Zimbabwe has stated that the gradual easing of COVID-19 lockdown restrictions and a general improvement in the business environment has supported a rebound for the company in the third quarter of 2020. Sales volumes were seven per cent higher YoY in the 3Q20, driven by recovery in the individual home builder market. Record sales were also seen in July, which was the best result for the month since 2003. Demand for cement in the construction sector surged 34 per cent ahea...

Lafarge Cement Zimbabwe to open dry mortar mix plant in 2H20

02 October 2020, Published under Cement News

Lafarge Cement Zimbabwe is set to complete the installation of a US$2.2m dry mortar mix (DMX) plant during the second half of this year. The project is part of LafargeHolcim Group's US$25m recapitalisation of its Zimbabwean subsidiary, which was announced last year. "Currently, the DMX plant is being installed and is set to be completed in the 2H20, while the vertical cement mill supply contract was signed in August 2020," said the group's chairman, Kumbirai Kat. Lafarge has ...