PPC Zimbabwe reports loss of export competitiveness

PPC Zimbabwe says the loss of export competitiveness is adversely affecting its operations and remains a risk to sustainable growth, reports the Chronicle. The fall in exports has been attributed to high production costs and cash shortages in the country.

To counter the issue, the company has appealed to the Zimbabwe government to increase export incentives and protect firms against losses incurred when exporting to regional markets.

“The cash shortage has adversely affected the company’s operations and remains one of our key risks. In the past, PPCZ used to export more than 100,000t of cement to the region, but the figure has dropped drastically,” said a spokesman for PPC Zimbabwe.