Rwanda: South Africa’s PPC is considering buying the government’s stake in Cimerwa. Cimerwa chief executive Bheki Mthembu said that PPC Group is performing a share valuation excersise, according to the East African newspaper.
Soraya Hakuziyaremye, the Minister of Trade and Industry, announced the sale in mid-June 2019, after the divestment was first proposed in March 2019.
PPC already owns a 51% stake in the cement producer. The government owns a 16.5% stake and other shareholders include the Rwanda Social Security Board with 20.2%, Rwanda Investment Group with 11.5% and Sonarwa Group 0.8%. The entire 49% stake is currently for sale. Potential buyers have until 5 July 2019 to register their interest.