As a result of the lockdown in South Africa, 14% of construction companies permanently shut their doors, according to a survey by Statistics South Africa released in May 2020.
AfriSam Group (Pty) Ltd (AfriSam) is pleased to announce that it submitted a revised merger proposal to PPC Limited (PPC) and that Fairfax Africa Investments Proprietary Limited (Fairfax) has made a Partial Offer to acquire ordinary shares in PPC representing a value of R2 billion held by PPC shareholders.
Basil Read says the construction sector in SA remains subdued, with a marked falling off in tender activity.