HARARE – Cement maker, Lafarge Cement, said output fell 55% in the first quarter ended March 31, 2022 after the company closed a key plant to make way for a new plant that aims to double output.
Chief executive Geoffrey Ndugwa said the slowdown was also underpinned by the collapse of the Lafarge factory roof the last year, which halted production from October.
Ndugwa was reporting on his first-quarter performance following his appointment late last year.
The plant only resumed production in February after spending the entire month of January in reconstruction.
“The company saw a 55% decline in cement volume compared to the same period last year. This is due to the start-up mode, as the cement plants restarted in February after the cement plant roof collapsed in October 2021,” Ndugwa said on Friday when sharing quarterly results with investors.
Ndugwa said the Zimbabwe-listed cement giant’s efforts to import spare parts have been hampered by a shortage of foreign exchange in Zimbabwe, where companies have sought US dollars for many years as the economic crisis deepens.
