PPC seeking buyers for CIMERWA stake

South Africa-based PPC is looking to sell its shareholding in Rwandan cement producer CIMERWA. “PPC is selling its 51 per cent stake in CIMERWA and the government will discuss if it is able to buy the stake,” Rwanda Development Board CEO, Clare Akamanzi told a news agency. “PPC is looking for buyers.”

A sale of its stake in CIMERWA would enable PPC to focus more on its South African core operations and further reduce debt.

CIMERWA operates a 0.6Mta integrated cement plant in Bugarama, Rusizi district. It predominantly serves its home market and exports 20 per cent of its output