The Zambia Consumer Association (ZACA) has expressed happiness over the decision by Lafarge Zambia Plc to reduce the price of its cement by between 5 and 10 percent.
ZCA General Secretary Juba Sakala said the reduction is inevitable because the local currency, the Kwacha, has been appreciating against other major convertible currencies for the past two months.
Mr. Sakala said with the help of the Competition and Consumer Protection Commission (CCPC), Lafarge has managed to reduce the price of cement to at least K120 per 50 kilogramme bag.
“Initially, Lafarge Zambia, was supposed to reduce the price of cement to 4 to 5 dollars which should have been less than K100,” he said.
He added that the CCPC’s order to reduce the price of cement by four to five dollars has not been resolved.
Mr. Sakala noted that fortunately, Lafarge Zambia Plc has reacted by reducing with a 10 percent price cut per bag of cement.
He has since encouraged other leading companies to emulate Lafarge Zambia Plc.
From October 31, Lafarge Zambia has reduced the price of cement to between five and 10 percent.
Lafarge Zambia Corporate Affairs and Communication Sarah Banda said in a statement made available to the media that the reduction in the price of cement was caused by the recent appreciation of the Kwacha against major convertible currencies as well as the positive outlook of national economic growth.