ZIMBABWE Stock Exchange-listed brick-making firm Willdale is projecting improved uptake of its bricks and related products in the first six months owing to major reconstruction projects taking place in Cyclone Idai ravaged areas.
The brick manufacturer indicated that it was anticipating volumes to be 10-35 percent better in the six months compared to the relative period last year stemming from the reconstruction process.
Zimbabwe Rapid Impact and Needs Assessment (RINA) analysis conducted by the World Bank group determined that the costs of the housing damages ranges between US$131-US$205 million, with Chimanimani being the most affected district requiring between US$66 million and US$71 million for home reconstruction.
On the other hand, road and bridges infrastructure alone requires in excess of US$196 million while education infrastructure needs circa $7 million to resuscitate the damaged infrastructure.
Resultantly Willdale has been tapping into the gap, supplying bricks for bridges and schools’ restoration presently to the Government department carrying construction work in the area.
“We have been supplying our produce to the construction and public works department and other few companies.
“We started with supply of bricks for school classroom blocks and ablution facilities and we have also supplied tinker bricks for bridges construction,” said Mr Nyasha Matonda the chief executive officer of Willdale Limited in an interview.
Given the spiralling inflation, the Willdale chief indicated that people are now hastily investing in building houses apparently to hedge their capital, a development he acknowledged would propel revenue of his company if it continues on such a trajectory.
He said: “ . . . with the obtaining high inflation, people have turned to storing value in brick and mortar and if the trend continues like that our volumes will be much higher so we are sure that by half year our volumes will be much better compared to last year.
“Our performance for the first five months is now actually 10 percent than the prior year.”
Earlier this year, Willdale Limited highlighted that it was looking forward to increased capacity and sales on the back of implemented during the course of last year.
Willdale is optimistic of better business prospects in the future considering the amount of household and Government infrastructure construction projects taking place in the country and it maintains that capacity is available to meet demand.
The company manufactures and markets a range of brick products for the Zimbabwean construction sector. Products include face brick, semi-face brick, common brick and paving bricks for driveways, swimming pool surrounds and garden landscaping.