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PPC CEO van Wijnen says ditching DRC debt exposure key to progress

By Xolisa Phillip, in Johannesburg
Posted on Thursday, 1 July 2021 17:36

PPC Dwaalboom (all rights reserved)

2020 was a strange, rollercoaster year, says Roland van Wijnen, the chief executive officer of PPC, South Africa’s largest cement producer. The company fought off its DRC debt woes, put up some of its units for sale, experienced a spike in demand for cement and seemingly cracked the code on good management.

PPC has effectively fended off debt claims, by senior lenders to its unit in the Democratic Republic of the Congo (DRC), against its South African balance sheet. A rights issue at home also seems unlikely following the impending conclusion of disposals of non-core assets at home and off-shore.