Nigerias Dangotewill invest ZAR 779mn in South Africas Sephaku Cement, raising its stake from19.8%, to 64%, after the manufacturing conglomerates initial ZAR 350mn investment.Sephakus new ZAR 3mn, 2.2mn-ton/year two cement manufacturing facilities willproduce clinker and cement, with a separate cement grinding facility. SephakuHoldings previously signed a mandate with Nedbank Capital to raise ZAR 1.8bn indebt financing for construction and Dangote will provide the guarantees tofinance the debt, fund project overruns up to ZAR 265mn with a commercial-termloan and fund Sephaku Cements limestone exploration project up to ZAR 35mnwith another. The main construction begins July-end. The local cement industryhas had no new entrants to the industry since 1934.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more