{"id":37630,"date":"2023-03-17T17:24:24","date_gmt":"2023-03-17T17:24:24","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/govt-likely-to-take-over-ppc-shares-in-cimerwa"},"modified":"2023-03-17T17:46:39","modified_gmt":"2023-03-17T17:46:39","slug":"govt-likely-to-take-over-ppc-shares-in-cimerwa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa","title":{"rendered":"Govt likely to take over PPC shares in CIMERWA"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>South Africa\u2019s PPC is seeking buyers for its stake in the Rwandan cement factory CIMERWA, stirring the government\u2019s interest to acquire the shares, according to reports.<\/p>\n

\u201cPPC is selling its 51 percent stake in CIMERWA and the government will discuss if it is able to buy the stake,\u201d Rwanda Development Board CEO, Clare Akamanzi told a news agency.<\/p>\n

\u201cPPC is looking for buyers,\u201d she noted.<\/p>\n

ALSO READ<\/b>: CIMERWA boss sheds light on dividend payments<\/p>\n

This comes after CIMERWA announced payment of Rwf10.5 billion in dividends to shareholders, following a record Rwf92.1 billion in total revenues in 2022, a 37 per cent increase from Rwf67.4 billion in 2021.<\/p>\n

This will be the first dividend payment since the cement manufacturer floated 100 per cent of its shares on Rwanda Stock Exchange (RSE) in 2020.<\/p>\n

Of the enlisted 703,219,520 shares on the stocks market, the government is the second largest shareholder.<\/p>\n

PPC has also been considering offers for its Zimbabwean business, although it has yet to agree on pricing with potential buyers, Bloomberg reported previously. A sale of its stake in CIMERWA would leave the continent\u2019s top cement maker with more time to focus on its core operations in South Africa and further pay down debt.<\/p>\n

\u201cPPC actively manages its business portfolio in Botswana, DRC, Rwanda, South Africa and Zimbabwe,\u201d the company responded once asked for a comment, \u201cIf and when appropriate PPC will communicate changes to its portfolio in line with applicable regulations.\u201d<\/p>\n

ALSO READ<\/b>: CIMERWA eyes over Rwf8bn in profit<\/p>\n

The Johannesburg-based cement maker, founded in 1892, refinanced its short and long-term facilities with South African lenders and sold PPC Aggregate Quarries Botswana and PPC Lime., which assisted in de-gearing its South Africa balance sheet to acceptable levels, the company said in its annual report.<\/p>\n

Asked to comment on the development, the CEO of Rwanda Stock Exchange, Pierre-Ce\u0301lestin Rwabukumba, could not confirm it.<\/p>\n

Established in 1984, CIMERWA has a production plant based in Bugarama, Rusizi district, with 80 percent of production serving the domestic market while 20 percent is exported.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. South Africa\u2019s PPC is seeking buyers for its stake in the Rwandan cement factory CIMERWA, stirring the government\u2019s interest to acquire the shares, according to reports. \u201cPPC is selling its 51 percent stake in CIMERWA and the government will discuss if it is able to buy the stake,\u201d Rwanda Development Board CEO, […]<\/p>\n","protected":false},"author":84,"featured_media":37628,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[760,763,758],"class_list":["post-37630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nGovt likely to take over PPC shares in CIMERWA - Rwanda<\/title>\n<meta name=\"description\" content=\"South Africa\u2019s PPC is seeking buyers for its stake in the Rwandan cement factory CIMERWA, stirring the government\u2019s inte ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt likely to take over PPC shares in CIMERWA\" \/>\n<meta property=\"og:description\" content=\"South Africa\u2019s PPC is seeking buyers for its stake in the Rwandan cement factory CIMERWA, stirring the government\u2019s inte ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-17T17:24:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-17T17:46:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/03\/postQueueImg_1679061274.16.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"555\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt likely to take over PPC shares in CIMERWA\",\"datePublished\":\"2023-03-17T17:24:24+00:00\",\"dateModified\":\"2023-03-17T17:46:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa\"},\"wordCount\":354,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/03\/postQueueImg_1679061274.16.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/govt-likely-to-take-over-ppc-shares-in-cimerwa\",\"name\":\"Govt likely to take over PPC shares in CIMERWA - 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