PPC: Sexwale move 'fantastic'

Johannesburg - The appointment of well-known businessperson Tokyo Sexwale as the minister of human settlements (formerly housing) has been applauded by cement producer PPC.

"Looking at civil construction, government seems hell-bent on its medium-term budget of R787bn over the next three years. The new regime must now deliver on housing and services, and I think Sexwale's appointment... is a fantastic move," PPC John Gomersall said.

He was commenting on the prospects of regional cement demand in the second half of PPC's 2009 financial year at a presentation of results for the six months to end-March on Tuesday.

"PPC - myself and Clive Tasker when he was here with me - had quite a lot to do with Tokyo Sexwale going back to when he was appointed premier of Gauteng.

"He is a no-nonsense guy and I would seriously expect that actual delivery and spending of budget numbers is likely to be a different scenario."

The housing development agency's prime object is to acquire land - which is one of the key limiting factors in new housing construction.

On Tuesday, media reports said Sexwale will resign as executive chairperson of the Mvelaphanda Group after his appointment to cabinet.

"I will be departing as the chairperson of Mvelaphanda; I will not be on any boards. I just became a minister only yesterday [Monday] afternoon so we are sitting with lawyers," Sexwale told SABC radio after being sworn in as the new minister of human settlements, a department which replaces the former housing portfolio.

- Fin24.com