About LaFarge
LAFARGE Cement Zimbabwe Ltd, which was founded in 1954 and is head-quartered in Harare, Zimbabwe, engages in the manufacture and distribution of cement and allied products.
It offers types of cement, such as WaterShield, Roadcem, SupaSet, Lafarge Portland Cement, and Lafarge Masonry Cement MC. The firm also supplies materials including washed sand, crusher run, and stones that are added to cement to produce concrete.
Currently Lafarge is trading under a cautionary statement advising shareholders and members of the investing public that a significant shareholder in the company is involved in discussions regarding its stake in the business.
According to the company, such transaction, if successfully concluded, may have an effect on the company’s securities.
Meanwhile in a trading update for the third quarter to September 30, 2021 the company said the dry mortars business volumes grew 95 percent compared to same period in the prior year on the back of increased capacity in the business following the installation of the new plant commissioned in the first quarter of the year. Volumes at the retail franchise – Binastore were 201 percent above same quarter in 2020 driven by increased purchases made on the Binastore e-commerce site particularly during the lockdown periods.
The company also achieved a 2,6 percent growth in cement volumes versus the same period last year.
It added that demand from the individual home builder 0has been consistent following the re-opening of the economy which was preceded by a lucrative agro-marketing season. This was in addition to national road rehabilitation projects across the country.
The growing ongoing infrastructure projects being implemented across the country are expected to boost the entire construction sector as demand for materials spikes.
Geoffrey Ndugwa is the Company’s chief executive officer. Prior to his appointment to this role, Geoffrey was the CEO for Lafarge Malawi from December 2019 to November 2021.
He reportedly has extensive experience in the cement industry spanning over 17 years working in various capacities across Africa.
Geoffrey holds a master’s degree in Business Administration from Heriot-Watt University (Edinburgh Business School), a post-graduate diploma in marketing from the Chartered Institute of Marketing, United Kingdom and a Bachelor of Engineering Honours Civil Engineering Degree from the University of East London.