Forex shortages stunt Makomo

Forex shortages stunt Makomo
Published: 02 May 2018
Foreign Currency shortages are stunting Makomo Resources' growth plans to double its coal production in what could spur the coal mining company's footprint on the local market.

Makomo is one of the companies that has been mining coal in the Hwange area alongside Hwange Colliery as well as other companies.

Kesley Wood, Makomo sales and marketing manager, said this week the company's' output could have vastly improved if it had adequate access to foreign currency.

The country is faced with acute foreign currency shortages which have affected production and export capacity of many companies in the country.

Wood also said that Makomo had entered into a partnership with the Zimbabwe Power Company (ZPC) which would see the coal-miner supply coal to ZPC's Hwange Power Station's units 7 and 8.
- Zim Ind
Tags: Makomo,


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