Lafarge sweats as embargo glides into boardroom

ZIMBABWE’s second biggest cement maker, Lafarge on Thursday said it was exploring “various courses of action” to defend its interests after multiple sanctions were slapped on firms linked to Fossil Group, the empire that controls its major shareholder, Fossil Mines.

Ahead of Thursday’s announcement, Lafarge had halted trading on the Zimbabwe Stock Exchange (ZSE), as its board evaluated how the US embargo would impact the firm, which has been a part of Zimbabwe’s construction environment for almost seven decades.

Lafarge was established in 1954 and listed on the ZSE in 1983.

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