Confirming the departure to national media outlets, group board chairperson Kumbirai Katsande said: "After a career spanning 10 years of service, with 18 months spent at the helm of LACZ, we announce that Precious Murena is stepping down as CEO of Lafarge Cement Zimbabwe Limited, in order to pursue new interests outside the Holcim Group,” he said.
"Precious Murena championed capital projects and introduced new technologies in building. Precious will always be remembered as the first female Zimbabwean to become a Chief Executive Officer of Lafarge Cement Zimbabwe Limited."
Lafarge Cement Zimbabwe is one of the leading cement and allied products producers in Zimbabwe. The now Swiss-headquartered company was established in the country in 1956, first as Salisbury Portland Cement, then owned by the United Kingdom-based Associated Portland Cement Manufacturers.
The company was listed on the Zimbabwe Stock Exchange in 1980, and subsequently changed its name to Circle Cement in 1982, in line with a change in the holding company’s name to Blue Circle Industries Plc. Circle Cement officially changed its name to Lafarge Cement Zimbabwe in 2007 and relisted on the Zimbabwe Stock Exchange.
Lafarge Cement Zimbabwe has recorded remarkable growth in the past few years and has two mining operations where limestone is extracted. These include Mbubu in Mashonaland East Province and Sternblick quarry in Harare. Lafarge Cement Zimbabwe has an installed plant capacity of about 500,000 tonnes per annum.
In 2020, revenue for the company grew by 68.5% to ZW$6.9 billion ( from ZW$4.1 billion) due to a significant volume growth in the Dry mortars business and a market shift towards high strength cement which influenced a significant change in the cement product mix.