PPC: 480 +5 (+1.05%)
Rwanda aims to sell stake in cement firm Cimerwa this month
KIGALI, March 9 (Reuters) - Rwanda's government aims to put
its 49 percent stake in the country's biggest cement maker,
Cimerwa, up for sale this month, the prime minister said on
The company, which is 51 percent owned by South Africa's PPC
Ltd, has an installed annual production capacity of
"We have asked our partners if they are interested and the
timeline is one month," Edouard Ngirente told a meeting of
senior officials broadcast on national television. "By the end
of this month we will auction (the stake)."
He said PPC had yet to specify if it was interested in the
stake, which he gave no valuation for, adding that other buyers
would be sought if necessary.
A construction boom in Rwanda has driven up demand for
cement as the government builds roads, power plants and a new
international airport. Private developers have also been
building new houses and office blocks.
The head of Cimerwa told Reuters in July that demand for
cement was growing at 7-8 percent annually as new building
projects come up. Rwanda also imports cement from neighbours
Uganda and Tanzania.
(Reporting by Clement Uwingiriyimana
Writing by Duncan Miriri; editing by John Stonestreet)
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