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.
Ref Cement exorbitant prices:- An investigation by COZWVA has revealed that, Tagwirei took over Lafarge & 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 pic.twitter.com/NYj82KRQS2
— COZWVA (@cozwva) November 6, 2023
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.
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
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