Listed Companies
Although PPC has not released any information to shareholders, and is currently not trading under cautionary, reports in the media suggest that Heidelberg Materials, a German building materials firm, is considering making a bid for the local cement maker. This is not the first time that PPC has attracted attention. Past suitors have included Fairfax Africa Investments, Holcim, Dangote Cement, CRH and AfriSam.
Diversified technology group 4Sight acquired X4 Solutions and XFour Technology in April 2025 in a move to expand its digital enterprise ecosystem and strengthen its footprint in workforce technologies. The acquisitions, which specialise in integrating and optimising HR and payroll systems in 20 countries across Africa, can tailor enterprise-grade offerings to the unique dynamics of the African labour market. The purchase consideration payable was split into two separate tranches with an initial payment of R21,2 million comprising equally of cash and share components. The second tranche, in the form of an earn-out of R21,2 million, was subject to the financial performance of the companies over the year to 28 February 2026, which the group exceeded, resulting in payment of the related earnout.
Burstone’s disposal of the rentable office property located at 2 Ncondo Place in Umhlanga in KZN to Pappamia for an undisclosed sum has been approved by the Competition Commission.
Unlisted Companies
Black woman-owned and managed Siyanqobangamandla Engineering Services (Siyanqoba) has received undisclosed funding support from the Abadali Fund, a black Business Growth Fund which forms part of the Abadali Equity Equivalent Investment Programme (EEIP). The programme is an economic inclusion initiative by the Department of Trade, Industry and Competition in partnership with J.P. Morgan and managed by Edge Growth Ventures. The facility will enable Siyanqoba to acquire specialised mining equipment, expand its operational capacity and create additional jobs. Siyanqoba services the likes of Seriti Resources, Thungela and Glencor.
Pan-African infrastructure fund, the Africa50 Infrastructure Acceleration Fund which had raised US$300 million by the end of its third close in December 2025, is looking to add a further $100 million in the final round. The fund will invest in equity and quasi-equity in infrastructure companies and projects in Africa focusing on power and energy, transportation and logistics, water and sanitation, and digital and social infrastructure.
DealMakers is SA’s quarterly M&A publication.
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