Cement News tagged under: foreign currency

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Lack of foreign currency impacts Mugher productivity

22 July 2019, Published under Cement News

A shortage of foreign currency is affecting the operations of Ethiopia-based Mugher Cement, according to Akalu Gebrehiwot, the company’s general manager. The company requires around US$3m annually for the procurement of spare parts for its cement plants. However, the Commercial Bank of Ethiopia and the National Bank of Ethiopia could not allocate more than US$0.5m due to the shortage of foreign currency that is currently affecting the country, said Mr Gebrehiwot. The company is carrying ou...

Lack of foreign currency affects Zimbabwe's plants

03 September 2018, Published under Cement News

Zimbabwe's foreign currency shortage is impacting on the operational efficiency of its cement plants. While Sino-Zimbabwe Cement Co is able to source 85 per cent of its raw material needs from local sources, the remaining materials are imported, requiring foreign currency. In addition, the company needs to buy spare parts from Europe and core services such as the paper bags for packaging cement from Tanzania and Zambia.  Wang Yong, Sino-Zimbabwe's managing director, said the company wa...

Ethiopian cement industry faces persistent challenges

06 August 2018, Published under Cement News

While the Ethiopian cement industry has expanded significantly and changed from being a net importer to a net exporter, the industry faces continued challenges, according to Haile Assegide, president of the Ethiopian Cement Producers’ Association in a key note address at the third annual East African Cement, Concrete and Energy Summit. A shortage of skilled manpower, lack of foreign currency and erratic power supply all continue to haunt domestic cement plants. Mr Assegide said that there ...