PPC Cement’s Bheki Mthembu gets top job at Rwandan partner company
The former general manger of PPC Cement’s Hercules and Jupiter operations in Gauteng, Bheki Mthembu, has taken up a position as CEO of CIMERWA, PPC’s Rwandan partner. The appointment, announced on Tuesday, comes as PPC readies for an eventful 2017 after a troubled 2016. PPC’s share price almost halved last year after it raised R4bn in a rights offer to service debt. But in 2017 the company plans to start production at plants in the Democratic Republic of Congo and Ethiopia to further establish it in sub-Saharan African. "PPC’s African operations are dealing with near-term macro headwinds across the region. Across the continent cement prices are under pressure due to overcapacity and demand weakness, especially in regions that rely heavily on hard commodities," said Gareth Visser, cement and construction analyst at Avior Capital Markets. The region needed significant infrastructure investment due to a growing urban population, which underpinned long-term growth fundamentals for the r...
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