PPC Limited boss Matias Cardarelli basically shrugged off Aliko Dangote's $1 billion Zimbabwe investment announcement, saying there's a massive difference between press releases and actual money showing up. The billionaire signed deals with the government for cement and energy projects, but Cardarelli told analysts his company isn't seeing any real movement yet. He brought up how Dangote tried investing back in 2015 under Mugabe and bailed after officials allegedly demanded kickbacks to grease the wheels.
PPC Zimbabwe pulled in $111 million in revenue over the half-year period and cleared $14 million in profit after tax, and Cardarelli said they're upgrading tech at their plants while launching solar projects to cut costs. He warned investors to watch what companies actually do instead of what they announce, hinting that another major South African cement player might drop similar investment promises soon without backing them up with real capital.
PPC Zimbabwe pulled in $111 million in revenue over the half-year period and cleared $14 million in profit after tax, and Cardarelli said they're upgrading tech at their plants while launching solar projects to cut costs. He warned investors to watch what companies actually do instead of what they announce, hinting that another major South African cement player might drop similar investment promises soon without backing them up with real capital.
