New chief executive takes charge at Lafarge Zimbabwe
conditions, including the approval of the competition authority in India. It added that the long stop date for closure of the transaction is at the end of May.
Life Healthcare operates in South Africa and has a hospital in Botswana. The group has an international presence through Alliance Medical Group (UK and Europe) and Scanmed SA in Poland.
Viranna said Life Healthcare’s strategy was evolving away from delivery of acute hospital care in emerging markets towards a much deeper approach to integrated healthcare, leveraging off the diagnostics capability of Alliance Medical Group.
“By concluding the Max Healthcare transaction it will enable this strategy and allow Life Healthcare to focus on its core operations in South Africa, the UK, Poland and Western Europe,” he said.
In the year to end September results, the group reported 12.9 percent increase in revenue to R23.5bn, with its UK subsidiary, Alliance Medical Group, reporting revenue growth of 30.8 percent to R5bn while normalised earnings before interest, tax, depreciation and amortisation (Ebitda) increased by 27.9 percent to R1.16bn.
Life Healthcare has set aside R2.6bn for the financial year 2019 for its capital expenditure programme. Its shares closed 2.47 percent higher at R26.95 on the JSE yesterday. LAFARGE Zimbabwe has appointed a new chief executive to take charge of the company as it battles to steady market share in light of growing imports and rising competition from local rivals in a liquidity parched market.
Kaziwe Siame Kaulule’s appointment as new chief executive took effect this month as he replaces Amal Naiel, who left Lafarge Zimbabwe “to pursue other personal interests” having been in charge of the company for five years.
The government of President Emerson Mnangagwa has relaxed import restrictions on products such as cement as local companies battle to sustain productivity and meet demand in light of foreign currency shortages.
This has raised competition for Lafarge Zimbabwe, which also has to face up to bigger rival, PPC Zimbabwe and Chinese- backed producer, Sino Cement Zimbabwe.
“He has a track record of achieving operational excellence while supervising cement, aggregates and ready-mix teams in highly competitive markets, said Lafarge Zimbabwe of its new chief executive yesterday.
A Zambian national, Kaulule joins the Zimbabwean Lafarge unit from Lafarge Holcim in the UK where he was general manager for retail and has previously served as executive in other European and African markets for the company.
A board member at Lafarge said Kaulule has been tasked to stabilise market share for the company and to grow it in the next few years.
He, however, faces a hard task given the economic difficulties in Zimbabwe.
“We believe he will rise up to the challenge and grow the company in the next two to three years.
“We need to grow our market share and there are some expansion projects when the right time comes that will help the company achieve this.
“Zimbabwe is a tricky market at the moment and his experience and previous achievements will be valuable for the company,” said the board member.
Kaulule is not a stranger to the Zimbabwe market dynamics as he has previously served as regional marketing director for the southern Africa cluster that encompasses Zimbabwe, Zambia and Malawi.
Lafarge Zimbabwe chairperson, Kumbirai Katsande, said recently that plant stability and reliability for its cement and kiln manufacturing operations in Zimbabwe “remains at the mercy of improved forex releases” from the government to pay for imports.
He further highlighted that “delays in foreign payments could seriously impact plant operations” and supplies.