Dangote Cement denies rumours of job cuts in Zambia

Zambia: Dangote Cement has denied that it will cut jobs in response to a new sales tax by the Zambian government. The local subsidiary of the Nigerian cement producer clarified comments by its chief executive officer (CEO) Albert Corcos that the new tax would negatively affect production costs, according to the Lusaka Times. The General Sales Tax will replace the existing value added tax (VAT) with a standard 9% rate and a 16% rate for imports. However the new tax has been delayed to September 2019.