Building Africa report 2022

Abstract

PPC poured its first cement in 1902. On that day, Theodore Roosevelt was President of the United States (POTUS). He would become the first POTUS to ride in an automobile. On 31 May that year, the Second Boer War ended in South Africa. The year also saw the founding of the football club now known as Real Madrid, the opening of the Aswan Dam on the Nile and the glittering premiere of the Hunchback of Notre Dame in Monte Carlo. How the world changes in just a few generations! A child today would be forgiven for thinking of Roosevelt chiefly as a dam in Arizona. South Africa has lived through close-on three decades of democracy, and Real Madrid holds 34 La Liga titles and 13 European Cup/UEFA Champions League trophies in the cabinet. Of course, as the saying goes, sometimes the more things change, the more things stay the same. The internal combustion engine that powered Roosevelt’s journey remains the heart of most cars today, despite the inroads made by electricitypowered cars. The mighty Aswan Dam holds firm, and Victor Hugo’s Quasimodo lives on in the form of a Disney animation. PPC lives through this same contradiction of consistency and change. After more than a century of having been listed on the Johannesburg Stock Exchange, it remains, at its heart, a producer of Portland cement. This most enduring of products – albeit vastly improved in many dimensions – remains the cornerstone of homes, bridges and skyscrapers the world over. The company’s geographic footprint has been more expansive. PPC operations now spread from the original home in South Africa all the way to Ethiopia. The product line reflects that growth, now covering everything from fly ash to plaster. In a faster and faster changing world, PPC has never been more cognisant of the need to evolve. The inaugural PPC-GIBS Building Africa Report is part of this effort to ensure the company stays relevant and successful in the years to come. Recognising a deep commitment to the continent, this report begins with expert thinking on Africa as a developing story, a place and a cement market. We puzzle over the “African narrative” ahead of us, and analyse the major players in African cement.