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VENTURES AFRICA – JSE-listed cement manufacturer, PPC, on Monday said its African expansion was well underway with the construction of new operations in Rwanda, Ethiopia and the Democratic Republic of Congo (DRC) right on track.
It said it was also pursuing additional opportunities on the continent and announcements will be made soon.
However, the company was at pains to explain that this did not mean the company had abandoned its home market of South Africa.
In December 2013, PPC acquired a 69.3 percent shareholding in Safika Cement Holdings for R377 million ($33.6m).
“(This) has added greater impetus to our local strategy of ‘Keeping the Home Fires Burning,’” Chairman Bheki Sibiya said.
He made these comments as the company released its trading update for the three months to December last year, saying operating conditions in South Africa remained tough.
In South Africa, the company posted low single digit cement volume growth.
Zimbabwe posted growth in cement volumes during the period under review with exports from that troubled country showing a “pleasing upward trend.”
Botswana volumes continue to be under pressure on the back of weaker demand and intense competition.
Mozambique sales volumes remained weak during the quarter on the back of competitive environment in the country.