by Rudo Saungweme

Widespread public panic buying of cement gripped the construction industry in the last two weeks which resulted in shortages and sharp increase in cement prices as dealers capitalised on speculation.

In line with that, PPC Managing Director, Kelibone Masiyane, has made a press statement indicating that the current cement shortage is temporary.

“PPC Zimbabwe wishes to inform customers and other stakeholders that the current cement shortage is temporary. The cement industry in the country has the capacity to produce over two million tons of cement per annum, adequate to satisfy the current market demand estimated at 1.3 million tons,” said Masiyane.

Masiyane also said, “PPC Zimbabwe assures the public that our factory prices have not increased since April 2012 in support of the country`s developmental objectives. The company commissioned a USD 85 million Harare milling plant in March 2017 in anticipation of upsurge in the demand of cement.

“As a company we appeal to our customers to avoid panic buying as this is likely to compound the situation.”

Harare Post has learnt that, the company will continuously engage retailers to act responsibly with regards to cement pricing in the market. PPC Zimbabwe has implemented various initiatives to mitigate the liquidity situation in the country which include exporting 2 percent of the company`s production capacity to neighbouring countries, and local sourcing of input materials to ensure that the domestic cement supply is not compromised.