The Nation Newspaper

Tag: PPC

  • Ekiti: PPC petitions INEC

    Providence Peoples Congress (PPC) has alleged that the Independent National Electoral Commission (INEC) was making moves to exclude it from taking part in the July 14 gubernatorial election in Ekiti State.

    The national chairman of PPC, Mr Benson Adetona, explained that INEC has taken some drastic steps to frustrate the activities of his party and debar it from political participation.

    He stressed further that the PPC would institute a legal action against the electoral umpire if it fails to reverse the unjustifiable “negative decision.”

    He described the action by INEC as a deliberate one, adding that PPC has petitioned the INEC national chairman with warning notice that INEC should reverse the action against the party within the stipulated days.

    In the statement, the PPC said, “INEC published a time table dated 5th Day of October 2017 and signed by the secretary to the commission which determines all activities by political parties in pursuance of the forthcoming Ekiti State election.

    “The statement listed on the time table to be submitted by the 15th day of May 2018 are forms CF001 and CF002, PPC complied with all the regulations.”

    The submissions in Abuja were supposed to close on the said 15th day of May, 2018.

    The statement also maintained that upon presenting PPC documents for acceptance at the INEC head office on May 14, 2018, the officer in charge instructed PPC to file additional documents, which were not listed on the time table and refused to accept PPC’s documents without these additions, being Forms EC 4 (V) (VI). The officer in charge in addition also told us that we would be able to file after May 15, 2018.

    “Upon presenting the Party’s Document on May 17, 2018 pursuant to INEC officers’ direction and representations, PPC was informed by the same officer that the deadline for submissions had closed and that our documents could not be accepted for submissions.”

    The party observed that the misrepresentation by INEC would cause the party to miss out on the forthcoming Ekiti elections and urged INEC chairman to use his good office to address the situation given the fact that the party has complied with all INEC requirements.

     

  • Dangote approaches PPC about takeover deal

    Dangote approaches PPC about takeover deal

    Dangote Cement has approached South African cement producer, ( PPC ), for takeover bid, but talks are at preliminary stages, Media reported on Thursday.

    PPC is already considering a bid by local rival, AfriSam, which launched a new all-share bid that values PPC at about 9.2 billion rand

    Dangote Cement bid for PPC is a way to increase its visibility in the South Africa and surrounding SADC market.

    PPC offers the prospect of a much larger business than DangCems current operation in South Africa through Sephaku Cement.

    Annual Financial Statement for the full Year ended March 31, 2017 shows that Sephaku Cement had revenues of R2.28 billion (178 million dollars) in 2016 (see Fig 1).

    This compares to PPC which had revenues of R9.6 billion ($748 million) in 2016, about four times that of Sephaku.

    Obviously DangCem would love to own the bigger company and has signalled it would be open to a sale of all or part of its cement operations in Sephaku Cement to win regulatory approval for a takeover.

  •  INEC plotting two-party state –PPC

     INEC plotting two-party state –PPC

    LEADERS of a yet-to-be-registered political party, the Providence Peoples’ Congress (PPC), have accused the Independent National Electoral Commission (INEC) of planning to foist a two-party system on the country by failing to register associations that have met all constitutional requirements as political parties.

    The national chairman of the party, B.A Adetona, in a statement, said the commission is intentionally frustrating its registration.

    The PPC alleged that the commission and its men have acted fraudulently and contrary to the provisions of the constitution in handling its request for registration as a political party.

    It also accused INEC of partiality in the registration of political parties, citing the prompt registration of some associations that came long after the PPC into political parties by the commission.

    “INEC is selective in registering political parties. The Unity Party of Nigeria (UPN) which came to block opposition in the South-West started after us and was quickly registered within three months. the Peoples Democratic Movement (PDM), which came to split votes in the north, was quickly registered under one month and for the PPC, twenty months are not enough.

    “This is because we are neutral, credible and pose a real threat to the plot to make Goodluck Ebele Jonathan the sole candidate at the polls,” PPC said.

     

  • Pretoria Portland Cement to open 600,000 Mpta Plant

    Pretoria Portland Cement to open 600,000 Mpta Plant

    South African cement maker, Pretoria Portland Cement Company (PPC), says it will inaugurate its 600, 000 ton-a-year plant in Rwanda by the end of this year while construction in the DR Congo, Zimbabwe and Ethiopia continues.

    In an indication that the company’s African strategy is going full steam ahead in the current financial year, PPC Chief Executive Officer (CEO), Ketso Gordhan said: “A positive outcome of a detailed feasibility study into establishing cement operations in Algeria would result in the construction of yet another cement factory in a different African country.”

    He made the comments about its African strategy as the cement maker released its results for the six months to end-March this year.

    During the period under review, PPC posted a two per cent increase in cement sales volumes while group revenue gained nine per cent to R4.1 billion ($395m) on the back of an increase in export volumes and improved cement pricing, among other things.

    EBITDA, which refers to profit before costs, increased five per cent to R1,1 billion ($106million) during the period under review.

    Bheki Sibiya, the Chairman of PPC, said the company continued to be well-backed by the debt capital markets with an additional R750 million ($72.2million) corporate bond raised in December last year.