• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
See More

PPC's Zim unit signs compliancy deal

Nov 20 2012 10:06
Malcom Sharara, Fin24’s correspondent in Zimbabwe

Company Data

PPC Limited [JSE:PPC]

Last traded 11
Change 0
% Change -4
Cumulative volume 1488117
Market cap 0

Last Updated: 26-05-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

PPC reports lower earnings

PPC enters R1bn empowerment deal

PPC lifts earnings

PPC acquires Quarries of Botswana

Zim economy 'offers many opportunities'

Former govt official to head PPC

Harare - Pretoria Portland Cement [JSE:PPC] has signed away a 29.6% shareholding in its Zimbabwean subsidiary Portland Holdings Limited.
The signing ceremony was held on Monday afternoon at Meikles Hotel.
The transaction will result in the company becoming fully compliant with the country’s indigenisation regulations, as locals already own 21.4%.
Under the deal Gwanda and Umguza community share ownership trusts will get 10%, while an indigenous Special Purpose Vehicle will get 4.9% and the National Indigenisation and Economic Empowerment Fund 9.7%.

Employees will receive a 5% stake through a share ownership trust.

Portland Holdings is also set to invest at least US$200mn towards construction of a new cement plant in Rushinga, Mash Central, the company said.

PPC group (SA) chief financial officer Tryphosa Ramano told Fin24 the company had completed feasibility studies and some boreholes have been drilled to determine the quality and quantity of the Rushinga limestone resource.
“The size of the plant will only be determined by the quality and quantity of the resource,” Ramano said.

“I can’t give you much detail about the Rushinga plant, as we have to announce it in South Africa first because we are listed on the JSE.”
Indigenisation Minister Saviour Kasukuwere said the investment signifies the company’s commitment to the country. 
PPC operates two plants in Zimbabwe, in Colleen Bawn and Bulawayo.
Its major competitor is Lafarge Cement.
PPC is listed on the Zimbabwe Stock Exchange and the JSE. Its shares are also fungible.
ppc  |  zimbabwe  |  indigenisation


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote