Connect with us

Hi, what are you looking for?

LOCAL NEWS

Tagwirei Accused of Creating Cement Shortage

Budding author exposes Tagwirei’s state and church capture

Harare | Children of Zimbabwe War Veterans Association (COZWVA) has accused controversial businessman Kudakwashe Tagwirei of orchestrating an artificial cement shortage, resulting in a staggering 90% increase in commodity prices in the country.

In a recent Twitter post, COZWVA revealed the findings of their investigation, which implicated Tagwirei in a scheme to manipulate the cement market.

The report suggests that Khaya Cement Zimbabwe, a company linked to Tagwirei, colluded with specific individuals to curb the importation of affordable cement from Zambia. This action intentionally generated a shortage, subsequently driving up the price of his product.

“Ref Cement exorbitant prices: An investigation by COZWVA has revealed that, Tagwirei took over Lafarge (Khaya Cement Zimbabwe) and pushed gvt to ban cheap cement imports licensing from Zambia creating an artificial shortage. This is the same Cartel Boss for Fuel, Banks & Gold cartel. He has destroyed Zim,” reads the tweet.

 

Advertisement. Scroll to continue reading.

Previously, a 50-kilogram bag of cement was available in the price range of US$9 to US$13. However, the construction material’s cost has skyrocketed, now ranging from US$16 to US$20.

Zimbabwe’s annual cement production averages around 2.6 million tonnes. According to records, Pretoria Portland Cement (PPC) and Khaya Cement Zimbabwe control more than 70% of the domestic market.

In response to the crisis, government has allowed those with free funds to import cement as a way of curbing shortages.

Advertisement. Scroll to continue reading.

The Zimbabwe Revenue Authority has warned that those caught importing cement without valid permits may face fines of up to US$2,000.

Source | Zimeye

For Feedback and Comments Please Contact Us On WhatsApp: +27 82 836 5828
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Catch More Updates Below

LOCAL NEWS

The Government says traders and individuals are still free to import fertiliser and cement to guarantee availability and affordability. In November, the Government allowed...

LOCAL NEWS

Tagwirei’s Opulent “Crossover” Event Causes Dissatisfaction in the SDA Church On Saturday, Glamis Arena came to life as members of Kudakwashe Tagwirei’s local church...

LOCAL NEWS

Harare | Dubious cartels that have emerged within Khaya Cement (previously Larfage) are threatening to destroy business mogul Kuda Tagwirei’s investment in the company....

LOCAL NEWS

Documents show that a politically linked oil tycoon transferred the alleged cash from the Reserve Bank of Zimbabwe (RBZ) to the City of London...

LOCAL NEWS

Suspicious financial flows passed through Zimbabwe, South Africa, and Mauritius on their way to the United Kingdom. Kudakwashe Tagwirei, a business tycoon and adviser...

LOCAL NEWS

An ex-communicated Seventh Day Adventist church pastor has written a book which seemingly attacks businessman Kuda Tagwirei’s growing influence in the politics of this...

BUSINESS NEWS

Zimbabwe’s cement manufacturers have invested more than US$100 million toward plant and equipment upgrades over the last four years amid the strong demand driven...

LOCAL NEWS

As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf...

Advertisement