Lafarge Cement Zimbabwe CEO resigns

Lafarge Cement Zimbabwe CEO Precious Murena-Nyika has resigned from her leadership role after just 18 months in post.
Quarry Products / September 15, 2021
Precious Murena-Nyika has resigned from the role of Lafarge Cement Zimbabwe CEO

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.

“She joined the group in 2011 and rose through the ranks to become Chief Executive Officer in 2020. Prior to becoming CEO, Precious had worked for the company in capacities that include industrial relations and welfare manager and human resources and communications director."

Lafarge has issued a subsequent statement on the Zimbabwe Stock Exchange (ZSE) website to inform its shareholders and the investing public of Murena-Nyika's departure.

The cement-maker said Murena-Nyika will be replaced by current chief financial officer Amr Elmowafy Aly Mowafy who will be on acting capacity until a substantial appointment is made at a date yet to be announced.

"The Board of Directors, Management and Staff of Lafarge Cement Zimbabwe Limited would like to thank Precious for her service to the organisation and wish her success in her future endeavours," said the company.

"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.


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