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*PPC Reportedly Considering Selling Its Zimbabwe Business* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?cd Pretoria Portland Cement (PPC) Company Limited, South Africa’s largest cement maker, is reportedly considering selling its Zimbabwe business for about $200 million. A sale will help the company, founded in 1892, to focus on its South African operations, according to Engineering News. ---------- Latest itel S24 available on Pindula: 128GB storage, 4GB RAM $119 USD WhatsApp: +263715068543 Calls: 0772464000 Buy Online: https://www.pindula.co.zw/market/itel-s24-128gb-22-20240426142756795795/?s=wanews ---------- Sources who spoke on condition of anonymity said discussions are at an early stage. Pricing negotiations are said to be ongoing, and there is no guarantee that a deal will go ahead. In responses to questions by Bloomberg, the company said: > PPC regularly receives unsolicited approaches for various parts of its businesses, including PPC Zimbabwe. > PPC’s board has a duty to assess any such approaches on their respective merits. The PPC unit in Zimbabwe has attracted interest from a local company involved in road construction and home building, sources said. PPC manages to conduct about 80% of its sales in US dollars, driven by demand for its products in mining, residential construction and government-funded infrastructure projects, according to the company’s trading statement. Demand for the construction material is expected to expand to 1.6 million tons this year, an increase of about 60% from 2017, according to PPC. The alleged plan to sell the Zimbabwean unit comes as some overseas investors are fleeing Zimbabwe as it grapples with a currency crisis and the effects of US sanctions on many of the nation’s politicians and business people. Holcim sold its business in the Southern African nation last year to a local firm. A number of banks including Barclays and Standard Chartered are also leaving Zimbabwe. *More Pindula News* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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