Cement Price Hike Due To Quoting Of Raw Materials In Dollars, Reveals Dangote

Dangote Cement Chief Financial Officer Mr Bright Tembo has revealed the hike in cement prices is because suppliers of raw materials, especially gypsum, are quoting prices in dollars.

He said this when Copperbelt Province Minister, Japhen Mwakalombe, visited the plant.

Mr Tembo said the situation has necessitated the increase in cement price in the country, a situation that was beyond cement manufacturers.

And Mr Mwakalombe has warned that such suppliers will be visited by the law and that necessary action will be taken.

He said government is concerned with the continued increase of prices of cement on the market.

However, Mr Tembo, in response, said the closure of Chambishi Metals has deprived cement manufacturers a reasonably priced source of gypsum which is now being sourced from South Africa and Namibia, among other distant sources who were quoting the products in dollars.

He said efforts to open Chambishi metals must be expedited so that the challenges being faced by the cement manufacturing companies can be mitigated.