South Africa's PPC is set to enter the Algerian cement market through a 49% acquisition of local company Hodna Cement. PPC, which is already building cement plants in three other African countries, is aiming to earn 40% of its revenues outside of South Africa by 2017, says CEO Ketso Gordhan.
Former New York mayor Michael Bloomberg, in Johannesburg on Monday for the C40 Cities Mayors Summit, announced a $10-million initiative to support pan-African business and financial journalism, focusing initially on Kenya, Nigeria and South Africa.
A major shift in how mining companies operate in Africa is required for the industry to contribute effectively to the continent's growth, South African Mineral Resources Minister Susan Shabangu told the Investing in African Mining Indaba in Cape Town on Monday.
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