Chinese industrial expansion into Africa’s cement sector is gathering pace, with West China Cement moving to acquire South Africa’s major cement producer, AfriSam, in a proposed deal that signals deepening Chinese interest in the continent’s infrastructure value chain.
Details of the potential transaction surfaced on 18 December through a notice issued by Botswana’s Competition and Consumer Authority, which has opened a window for stakeholder submissions either supporting or opposing the proposed merger. The consultation period is expected to conclude within ten days, although the financial value of the deal has not been made public.
The acquisition would be executed through West International New Building Materials, a subsidiary of Hong Kong Stock Exchange–listed West China Cement. The move reflects a broader strategy by Chinese cement producers to seek growth opportunities beyond domestic borders, as China’s prolonged property sector slowdown continues to dampen construction activity at home.
Africa has increasingly emerged as a strategic destination for these expansions. In a landmark deal last year, Huaxin Cement acquired a controlling stake in Lafarge Africa from Holcim for approximately $1 billion. West China Cement itself is already developing cement production facilities in Ethiopia and Uganda, reinforcing its long-term commitment to the African market.
AfriSam, though unlisted, is a key player in South Africa’s cement industry and counts some of the country’s most influential financial institutions among its shareholders. These include the Public Investment Corporation, Africa’s largest asset manager, alongside Nedbank, Standard Bank, FirstRand and Absa. Following years of restructuring, these investors have been exploring exit options from parts of their holdings, creating an opening for strategic buyers.
South Africa’s cement market remains highly competitive. JSE-listed PPC is the largest domestic producer, while other significant players include Lafarge South Africa, owned by Afrimat, and Sephaku Cement, a subsidiary of Dangote Cement.
The timing of the proposed acquisition also aligns with South Africa’s broader economic ambitions. President Cyril Ramaphosa has repeatedly outlined plans to position the country as a major construction and infrastructure hub, with renewed public and private investment expected to drive medium-term demand for cement and building materials.
If approved by regulators, the AfriSam deal would mark another milestone in China’s expanding industrial footprint across Africa, further embedding Chinese capital and expertise into the continent’s infrastructure and construction landscape, a trend reshaping Africa’s growth narrative in the years ahead.
