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.
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.