A good week for Peter Nelson and a bad week for Sihle Zikalala
PPC’s share price soared 78% in three weeks, while KwaZulu Natal ANC chairman will probably be heading to court
PPC’s share price soared 78% in three weeks on the back what could become a bidding war for a merger with SA’s biggest cement producer. PPC’s board, under chairman Peter Nelson, will in early October recommend to shareholders what action to take with regard to the partial offer by the Fairfax Africa Investments/AfriSam consortium, led by Phuthuma Nhleko. Expressions of interest have also come from LafargeHolcim and Africa’s richest man, Aliko Dangote of Nigeria, owner of Dangote Cement.
KwaZulu Natal ANC chairman Sihle Zikalala will probably go to the supreme court of appeal now that the Pietermaritzburg high court has ruled that the ANC’s 2015 provincial elective
conference at which he was elected chairman — replacing former premier Senzo Mchunu — was unlawful and invalid.
The high-profile case was heard amid rising levels of factional violence in the province, reminiscent of the ANC-IFP hostilities of the early 1990s, and drew thousands of rival supporters.