Categories: Stories

Zimbabwe cement sales boost PPC

Regional cement and lime producer Pretoria Portland Cement says an increase in cement sales in Zimbabwe has boosted the group’s overall sales volume at a time when major markets like South Africa have remained subdued.

In a trading update for the quarter October to December, 2014 released today, Bheki Sibiya, chairman of the Johannesburg Stock Exchange-listed group said Zimbabwe and Botswana were the main drivers of volumes during the quarter.

“Domestic sales volume growth in Zimbabwe and Botswana has shown an upward trend. However, in all territories muted selling price growth has been achieved,” he said.

Sibiya added that construction work in Harare was in progress although no further details were provided.

PPC is constructing an $80 million cement plant in Harare which is expected to come on line next year.

The company has cement manufacturing plants at Cementside in Bulawayo and Colleen Bawn in Matabeleland South.

The Harare project among others in Africa is expected to boost the demand of cement products.

“The release of major infrastructural projects in South Africa, Botswana and Zimbabwe would provide a key driver for demand of cement products.”

PPC also has subsidiaries in Rwanda, Ethiopia and the Democratic Republic of Congo.

The increase in sales in Zimbabwe, however, was a sharp contrast to the group’s performance in its main market, South Africa.

“The operating environment in South Africa remains tough on the back of weak economic growth, which has been exacerbated by power shortages, and increased competitor activity.”

The group will release its interim results for the six month period ended  March 31, 2015 on 19 May.-The Source

(208 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Zimbabwe among the top countries with the widest gap between the rich and poor

Zimbabwe is among the top 30 countries in the world with the widest gap between…

November 14, 2024

Can the ZiG sustain its rally against the US dollar?

Zimbabwe’s battered currency, the Zimbabwe Gold, which was under attack until the central bank devalued…

November 10, 2024

Will Mnangagwa go against the trend in the region?

Plans by the ruling Zimbabwe African National Union-Patriotic Front to push President Emmerson Mnangagwa to…

October 22, 2024

The Zimbabwe government and not saboteurs sabotaging ZiG

The Zimbabwe government’s insatiable demand for money to satisfy its own needs, which has exceeded…

October 20, 2024

The Zimbabwe Gold will regain its value if the government does this…

Economist Eddie Cross says the Zimbabwe Gold (ZiG) will regain its value if the government…

October 16, 2024

Is Harare the least democratic province in Zimbabwe?

Zimbabwe’s capital, Harare, which is a metropolitan province, is the least democratic province in the…

October 11, 2024