WATCH: 50 "illegal houses" being demolished in Matola; some "have some documentation"
Folha de Maputo (File photo)
Cimentos de Mozambique increased cement prices yesterday, with Director-General Jorge Manuel Reis quoted by Noticias as saying that the new prices are aimed at addressing rising costs resulting from the devaluation of the metical against the US dollar.
Many of the raw materials the company works with are imported, and paid for in dollars, Reis explains.
“With the exception of Matola, all our factories import clinker. But even here we import plaster, paper bags, engines for our machinery and other equipment.”
From September 2015 to September 2016, the metical depreciated more than 70 percent against the US dollar, with an impact on the cost of raw materials used by the company.
With the adjustment in force since yesterday a bag of 32.5 cement will cost 347 meticais at the Matola factories, 289 meticais in Dondo at and 390 meticais in Nacala.
A bag of 42.5 cement now costs 361 meticais in Matola, 304 meticais in Dondo and 408 meticais in Nacala.Source: Folha de Maputo