Zimbabwe Allows Cement Imports As Prices Soar

5 months agoTue, 07 Nov 2023 18:02:51 GMT
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Zimbabwe Allows Cement Imports As Prices Soar

The Government says individuals and companies with free funds can now freely import cement.

Addressing a post-Cabinet media briefing in Harare on Tuesday, Information, Publicity and Broadcasting Services Minister Jenfan Muswere said:

The nation is advised that following reports of artificial cement shortage in the market and the spiralling prices Cabinet has approved the importation of cement by individuals and companies with free funds.

According to a report by newZWire, cement prices are rising due to a combination of factors that include breakdowns and scheduled maintenance at the country’s major cement producers as well as the expiry of import licences.

In 2021, the Government gazetted Statutory Instrument 89 of 2021, which restricted foreign cement by issuing import licences.

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The report says many of these licences have since expired and the Government had been reluctant to renew them, causing a shortage and pushing up prices.

The price of cement is now around US$20 per 50kg bag, up from US$9 two months ago, according to The Herald.

More: Pindula News



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