{{South Africa\u2019s largest cement firm Pretoria Portland Cement (PPC Ltd) has secured a majority stake in Rwanda\u2019s only cement manufacturer CIMERWA.}}<\/p>\n
The firm agreed to voluntarily contribute USD100, 000 to Agaciro Fund shortly after signing a deal in Kigali.<\/p>\n
PPC Ltd will pay US$69.4 Million for a 51% stake in CIMERWA.<\/p>\n
Clare Akamanzi, the CEO of the Rwanda Development Board (RDB) said that with the new deal, cement production will expand by up to six times in the coming years.<\/p>\n
The current demand for cement in Rwanda is estimated at 350 000 tons per annum.<\/p>\n
PPC will increase CIMERWA production from 100,000 tons to 600,000 tons to boost local capacity and exports by 2014, according to the deal.
\n \u201cComing to Rwanda is a vote of confidence,\u201d said RDB\u2019s Clare Akamanzi.<\/p>\n
\u201dThe transaction is a further step in our committment to invest in Sub-Saharan Africa and we are confident about Rwanda,\u201d said Mr Paul Stuiver, the CEO of PPC.<\/p>\n
The cement giant PPC Ltd is just one of the many South African multinationals that have moved into Rwanda. <\/p>\n","protected":false},"excerpt":{"rendered":"
{{South Africa\u2019s largest cement firm Pretoria Portland Cement (PPC Ltd) has secured a majority stake in Rwanda\u2019s only cement manufacturer CIMERWA.}} The firm agreed to voluntarily contribute USD100, 000 to Agaciro Fund shortly after signing a deal in Kigali. PPC Ltd will pay US$69.4 Million for a 51% stake in CIMERWA. Clare Akamanzi, the CEO […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[75],"byline":[170],"hashtag":[],"class_list":["post-4596","post","type-post","status-publish","format-standard","hentry","category-business","tag-homenews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/4596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=4596"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/4596\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=4596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=4596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=4596"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=4596"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=4596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}