A leading cement supplier in Southern Africa is pleased to announce that it has signed a Memorandum of Understanding (MOU) with the Democratic Republic of Congo’s Barnet Group sprl, its local partner of choice.
CEO of PPC, Ketso Gordhan, announced the company’s intentions to invest in a $230 million factory in the Democratic Republic of Congo (DRC). At present, the DRC has 16kg per capita annual cement consumption, the lowest in Africa, compared with the South African average of 240kg and the global average of 400kg. “This investment is another of PPC’s commitments to invest in sub-Saharan Africa and we are very confident about the DRC. 22% of PPC’s revenue comes from outside South Africa, at present, but the target is to increase this to 40% by our 2016 financial year. We look forward to a growing contribution and partnership with the DRC in the years ahead,” said Gordhan.
Democratic Republic of Congo
- The DRC has a population of approximately 4.1 million people (UN, 2011)
- It is a country with immense economic resources however; it has been at war since before the 1960s, after it gained its independence.
- The war claimed an estimated three million lives and has been called possibly the worst emergency to unfold in Africa in recent decades.
- After its independence, the country had seven presidents – with about four who were assassinated.
- Political stability increased since J. Kabila’s election as president in 2006
- The DRC signed a debt relief agreement of $12 billion with IMF in 2010
- The agricultural sector is developing with increase of export targets of coffee, rubber and palm oil
- The industrial sector is driven by the mining sector (diamond, zinc, copper, etc.) accounting for an estimated 30% of GDP
