Tagwirei struggles after taking over Lafarge…as cement shortage hit the market
Harare-UNCERTAINITY has gripped the cement industry as the man believed to be one of Zimbabwe’s most astute businessman Kuda Tagwirei may not be that sleek after all, reports Express Mail Zim.
Tagwirei is reportedly failing to efficiently run one of the country’s leading cement companies, Khaya Cement, formerly Lafarge.
Express Mail Zim can exclusively reveal that all is not well at Khaya Cement, as the man who many believe to be ‘Mr Perfect’, Kuda Tagwirei is contributing to the country’s cement shortages.
Information gathered by our team has discovered that there are ‘mafia-like’ cartels that have been involved in corrupt dealings at Khaya Cement contributing to artificial shortages and skyrocketing of cement prices.
“The challenge is Tagwirei wants to create a monopoly and footprints in every sector of the economy .
” His model is disatrous, look at what Tawanda Nyambirai tried with TN holdings , it doesnt work,” said a economic analyst who preferred anonymity.
The company last week announced that prices will fall drastically following a retooling exercise but situation on the ground reflects the opposite.
Prices are hovering around US$20 per 50kg, up from an average of US$10.
This development has a negative impact on the infrastructure development championed by the Second Republic.
Apart from limited local production, the sharp increase in cement prices was also exacerbated by the expiry I import licences issued earlier, which has widened the supply gap.
