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Displaying items by tag: Zimbabwe
Zimbabwe: UK-based Associated International Cement Limited (ACIL) has reportedly rejected an offer for its 76% stake in Lafarge Zimbabwe. Lafarge Zimbabwe company secretary Faithful Sithole said that the parent company is still assessing offers received for the stake. The NewZimbabwe newspaper has reported that the declined offer may have come from China-based Huaxin Cement.
PPC Zimbabwe complains about imports
11 April 2022Zimbabwe: Kelibone Masiyane, the managing director of PPC Zimbabwe, has complained about the negative effects rising imports of cement could have upon the local cement industry. In an interview with Business Weekly he said that imports had doubled to 16% over the last year and that this is restricting PPC’s efforts to reach its desired capacity utilisation levels. PPC and other producers have lobbied the government to slow down imports. PPC operates two integrated plants in the country with a combined production capacity of 0.7Mt/yr. Selected retailers interviewed separately reported that they had experienced difficulty obtaining cement from PPC recently.
Zimbabwe: Lafarge Zimbabwe has appointed Shepherd Shonhiwa as a non-executive director. The appointment took effect from 1 January 2022.
Shonhiwa has chaired the boards of companies based in South Africa including Sunday Times Newspapers, Times Media Eastern Cape Newspapers, Dispatch Media and the Institute of Directors South Africa. Over the past 30 years, he held the positions of chief operating officer at Times Media, chief executive officer of Tepco Petroleum, managing director of Shell LPG Southern Africa, managing director of Egoli Gas, general manager of Ford Swaziland and director of TA Management Services (Zimbabwe). He also runs a consultancy in executive leadership coaching, corporate governance, board effectiveness and strategy advisory. He is a Fellow of the Institute of Directors South Africa and the Institute of Personnel Management of Zimbabwe.
The subsidiary of Holcim also announced the retirement of David Leslie Cruttenden with effect from 31 December 2021. Cruttenden had served on the board of Lafarge Zimbabwe since 2006 and was the chair of the Audit and Risk Management Committee at the time of his resignation.
PPC sales volumes driven by Zimbabwe and Rwanda
23 March 2022South Africa: PPC expects its group cement sales volumes to increase by 4 - 8% year-on-year for the financial year to 31 March 2022 due to strong performance in Zimbabwe and Rwanda. In an operational update it said that sales revenue is also expected to rise by 11 – 15%. However, sales volumes and sales revenue growth was reported as slower in South Africa and Botswana due to strong demand due to home improvement projects during the previous period.
The cement producer noted that it had yet to experience any ‘meaningful uplift’ in cement sales following the government’s decision to only use locally produced on infrastructure projects. It said that cement sales in coastal regions of South Africa were behind those in the previous reporting year. It said that cement imports, mainly from Vietnam, increased by 11% and accounted for approximately 10% of the local market.
Zimbabwe: Lafarge Zimbabwe has concluded its assessment of the collapse of its Manresa grinding plant’s roof, which occured in October 2021. The company warned investors that continued disruptions to cement production and the cost of repairs will have a negative impact on its 2022 first-quarter results. It added that normal operations would resume ‘as soon as possible.’
Geoffrey Ndugwa appointed as head of Lafarge Cement Zimbabwe
05 January 2022Zimbabwe: Lafarge Cement Zimbabwe appointed Geoffrey Ndugwa as chief executive officer (CEO) in mid-December 2021. He succeeds Precious Murena, who stepped down in September 2021.
Ndugwa was previously the CEO for Lafarge Malawi from late 2019. He brings experience in the cement industry spanning over 17 years working in various capacities across Africa. Some of his notable appointments include being the Commercial Director for Bamburi Group in Kenya, the General Manager Innovation and Marketing for Lafarge WAPCO Nigeria, the General Manager for Bamburi Special Products in Kenya, the Head of Business Support for Barclays Bank of Uganda and the Sales Manager for Hima Cement in Uganda.
Ndugwa holds a master’s degree in Business Administration from Heriot-Watt University in the UK, a post graduate diploma in marketing from the Chartered Institute of Marketing in the UK and a Civil Engineering degree from the University of East London.
Zimbabwean government to continue cement import programme
08 December 2021Zimbabwe: Industry and Commerce Minister Sekai Nzenza says that the government will continue to issue cement import permits until local production returns to normal. The situation has been blamed on a breakdown at Lafarge Zimbabwe’s cement plant, according to the Herald Zimbabwe newspaper. The company is importing cement from Zambia to compensate. A roof collapse over the mill at Lafarge Zimababwe’s Manresa plant was reported in October 2021.
PPC’s sales rise by 20% to US$324m in first half of year
24 November 2021South Africa: PPC’s revenue grew by 20% year-on-year to US$324m in the first half of its financial year to 30 September 2021 from US$269m in the same period in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 13% to US$59.6m from US$52.9m. The group reported that cement sales volumes rose by 12 – 15% in South Africa and Botswana due to strong retail demand. It also described new procurement measures supporting locally produced cement for government-funded project as “an essential first step in ensuring the economic sustainability of the South African cement industry.” It noted cement sales volumes growth of 19% in Zimbabwe despite local economic problems, but earnings declined due to additional costs incurred in importing clinker and an unplanned kiln shutdown. In Rwanda the group noted flat sales volumes and falling earnings due to a coronavirus-related lockdown.
Roof collapses over cement mill at Lafarge Zimbabwe plant
27 October 2021Zimbabwe: Lafarge Zimbabwe says that a ‘critical’ incident occurred at its Manresa plant in Harare on 11 October 2021 when the roof collapsed over a cement mill. It reported no fatalities or injuries. However, the subsidiary of Switzerland-based Holcim warned that the incident might have an impact on its business performance for the last quarter of 2021. It added that it had already started taking action to repair the structure and restart the mills.
The Herald Zimbabwe newspaper reports that there has been a “general low visibility of the company’s cement in the market.” It added that the company started building a new cement mill at the plant in March 2021 with an expected commissioning date of March 2022.
Precious Murena steps down as head of Lafarge Cement Zimbabwe
15 September 2021Zimbabwe: Precious Murena has stepped down as the chief executive officer (CEO) of Lafarge Cement Zimbabwe to “pursue new interests outside the Holcim Group.” She was originally appointed to the role in early 2020. Amr Elmowafy Aly Mowafy, currently the chief financial officer, will assume the position of Acting CEO in the interim period until a replacement is found.
Murena joined Lafarge Cement Zimbabwe in 2011 and worked in various roles including the Industrial Relations & Welfare Manager and Human Resources & Communications Director. She was the first female Zimbabwean to become a CEO of the company.