PPC’s Game of Thrones: Disturbing goings-on at SA’s cement giant
As the cement company battles for survival, it has now emerged it agreed to pay its former finance director a monthly ‘consultancy’ fee of R321,499.95 for just 40 hours of work a month. Are PPC shareholders getting a raw deal?
28 January 2021 - 05:00
SA cement giant PPC was once a blue-chip darling of the JSE — a "must-have" stock in every local investment portfolio. Not too long ago PPC produced roughly one in three bags of cement in the country, while its status as one of the biggest cement-makers in Africa lent it a prestige that superseded its humble origins, as De Eerste Cement Fabrieken Beperkt, back in 1892.
In recent years, however, things have started to go badly awry...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.