Published: 29 November 2013

MANAGEMENT changes are looming at cement producer Lafarge amid revelations incumbent managing director Mr Johnathan Shoniwa will be moved to chair the group with an unnamed appointee from Egypt replacing him.
Sources who spoke on condition that they are not named told The Herald that the managing director will be taking over the group's chairmanship from former Harare mayor Mr Muchadeyi Masunda.

The country's second largest producer of cement, which has a 36 percent share of the Zimbabwean market, comes only second to Bulawayo base South African owned Pretoria Portland Cement Zimbabwe.

The Zimbabwe Stock Exchange listed group recently said production for the year to date came in 7,8 percent lower compared to the same period last year, but anticipated to meet its year-end target of 350 000 tonnes.

Lafarge Cement recently said it is diversifying its product portfolio due to a decline in cement demand on the local market. Finance director Mr Farai Matanhire said demand for cement has declined due to the liquidity crunch.
- herald

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