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*PPC Reportedly Considering Selling Its Zimbabwe Business* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ez 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. ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- 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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