eBusiness Weekly
Fradreck Gorwe
Zimbabwe Stock Exchange-listed cement manufacturer, Lafarge Cement, has a history spanning back to 1900 when the British founded the Associated Portland Cement Manufacturers Limited (APCM).
With expansion overseas, it finally got incorporated in Zimbabwe as Salisbury Portland Cement in 1954.
Being rich in limestone among other resources, Zimbabwe was a feasible location for the production of cement and other cement products.
Salisbury Portland Cement grew exponentially with a construction boon necessitated by the Federation of Rhodesia and Nyasaland, (1953-1963).
This was after another such boon as nations got engrossed with reconstruction post Second World War.
The parent Associated Portland changed name to Blue Circle in 1978.
Two years later, in 1980, Salisbury Portland Cement got listed on the Zimbabwe Stock Exchange. The name change to Circle Cement came about in 1983 in response to a change in name of the holding company to Blue Circle.
The company supplied cement used in most landmark structures like the Kariba Dam, Cabora Bassa Dam and other high-rise buildings in major cities of Zimbabwe. In 2001, the parent Blue Circle was acquired by Lafarge SA, a French company in the business of cement aggregates, dry mix mortar and related products.
Following this landmark acquisition, Circle Cement officially changed name for the second time to Lafarge Cement Zimbabwe in 2007. This was followed by yet another fresh re-listing on the bourse.
Lafarge Cement Zimbabwe became a member of the global Lafarge Holcim, a product of the 2015 merger between a French company, Lafarge and a Swiss cement company, Holcim. Now this merger operates around 80 countries that include Zimbabwe.
At the moment Lafarge Zimbabwe is contributing immensely to the construction of global cities, reason for the Logo’s inscription, “Lafarge: Building better cities.”
The company owns two limestone mines which include Mbudu in Mashonaland East and Sternblick quarry in Harare.
As the CEO foretold in the 2018 annual report, 2019 prospects centres around securing production and sales volumes as well as reinvestment strategies subject to foreign currency availability.
However, on a larger scale future prospects are in line with the holding of Lafarge’s 2022 strategic vision with its four pillars of growth, simplification and performance, financial strength and a combination of vision and people.
The ZSE counter held a market capitalisation of $ 137 000 000 and a share price of 171,25 cents as updated on September 25, 2019.
Zambia’s Kaziwe Siame Kaulule, is the current group chief executive officer (CEO).
