Rwandan government to divest Cimerwa stake

Rwandan government to divest Cimerwa stake
11 March 2019

The state of Rwanda has put up its 49 per cent stake in Cimerwa up for sale, according to an announcement made by the country’s Prime Minister, Edouard Ngirente on 9 March 2019. An auction will be organised at the end of the month.

South Africa-based PPC currently holds a majority stake of 51 per cent in the Rwandan cement producer, but has not expressed an interest in acquiring the 49 per cent shareholding for sale. Cimerwa operates a 0.6Mta integrated plant in Rusizi.

The government is confident it will find a buyer given the current construction boom in the country. In recent years, the Rwandan government has built several roads, power plants, a new international airport and other infrastructure. As a result, cement demand has grown at an annual rate of 7-8 per cent.

Published under Cement News