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Zambezi Portland Cement explains price hikes

THE prices of cement on the Copperbelt have been hiked by K20.

A check in the central business district of Ndola found the price of a 50-kilogramme bag of cement increased.

Zambezi Portland cement is selling at K77, Dangote K86, and Lafarge K80, respectively.

But Zambezi Portland Cement chief executive officer Gomeli Litana defended the price increase, saying that production cost was high.

Litana said over a period of time the cement company had been making losses.

He said the company was previously forced to reduce the price because new investors in the sector had underpriced the commodity.

“The current price is a true reflection because we were forced to previously reduce because of new entrants in the business. It is the usual price wars in the business but we all suffered because it was not matching with production costs,” Litana said.

He said the increase in fuel prices has also pushed cement to increase.

“Fuel prices have gone up and it is also eating in our profits hence we were forced to increase,” said Litana.

Meanwhile, Dangote Cement Zambia Limited public relations manager Mubiana Nalwendo did not respond to a press query by press time.

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