Behind Afrimat’s R810m Lafarge coup
Afrimat’s purchase of Lafarge’s South African unit may yet pay off, in spite of the economy and the struggling construction industry. It will have to bring all its management skill to bear
Some market spectators may be forgiven for questioning Afrimat’s decision to swoop on the South African unit of multinational cement-maker Lafarge. After all, cement sales are an indicator of economic progress — and on that count, things aren’t looking good.
According to the Afrimat construction index, compiled by economist Roelof Botha, activity in the construction and building sectors was at its lowest level in the first three months since the start of the pandemic in 2020. Then there’s the economy — on its knees as a result of rolling blackouts, policy uncertainty, a weak rand and stubbornly high unemployment that’s at 42%, if you count discouraged work-seekers...
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.