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Court okays Fayose’s trial
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VOL. 8, NO. 2513 TUESDAY, JUNE 11, 2013
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South Africa buys N46b shares in Dangote Cement
T •Dangote
HE South African government yesterday emerged the second largest equity investor in Dangote Cement Plc, with the purchase of 1.5 per cent equity stake worth N45.75billion in Nigeria’s most capitalised quoted company.
By Taofik Salako
The deal was consummated at the Nigerian Stock Exchange (NSE) by South Africa, through its wholly owned investment company, Public Investment Corporation of South Africa (PIC). A total of 255.61 million ordinary shares of 50 kobo each
of Dangote Cement were bought at N179 per share. The transaction makes the South African government the second largest institutional shareholder, after Dangote Industries Limited (DIL). It is also the only known public entity with significant shareholding in the company.
The transaction price of N179 represents 30-day volume weighted-average-price of Dangote Cement. The stock, however, closed yesterday at N210 per share. Established in 1911 and owned 100 per cent by the South African government, PIC has some R1.17 trillion
Rands, equivalent to $115 billion, funds under management. The NSE confirmed the details of the transaction, which set a milestone as the largest trade on the stock market. Dangote Industries, Continued on page 4
Tutu joins prayers as Mandela battles for life Ex-wife Winnie visits hospital
A
NTI-APARTHEID campaigner Dr. Desmond Tutu yesterday joined prayers for ailing former South African President Nelson Mandela who is receiving intensive care at a Pretoria hospital. President Jacob Zuma’s office said Mandela’s condition remained unchanged after three nights in the hospital. Presidential spokesman Mac Maharaj said: “Today, the doctors are saying his condition is unchanged. “He is under expert attention and doctors are doing everything to keep him comfortable.” Maharaj described a report in The Star suggesting the Mandela family had barred the ANC and government officials from visiting Madiba as unfortunate. “There is no substance to that. It’s very unfortunate that one particular newspaper chose to run with that as a headline. I’ve read that report and it has no single source it attributes to, except three unnamed sources. “There are restrictions which arise from the fact that Madiba is under intensive care. Those are medical restrictions to control movement of people (to exclude the) possibility of visitors bringing infection into the environment,” said Maharaj. The newspaper reported that the Mandela family had taken charge of the 94-year-old Nobel Peace Prize winner’s hospital stay, banning everyone, including government leadContinued on page 4
•Winnie Madikizela-Mandela (left), Mandela’s ex-wife, speaks with an unidentified person as she leaves with their daughter Zindzi (right) and grandson (centre) at the Mediclinic Heart Hospital in Pretoria, where Mandela has been hospitalised…yesterday PHOTO: AFP
Lagos legalises voluntary cremation of bodies
I •Fashola signing the law...yesterday
T is now legal to cremate bodies in Lagos. Governor Babatunde Fashola yesterday signed three bills for laws to establish the State Christian and Muslim Pilgrims Welfare Board, the Ibile Oil and Gas Corporation and another to provide for voluntary cremation of bodies and unclaimed bodies. The governor, who spoke at the Con-
By Miriam Ekene-Okoro, Staff Reporter
ference Room of the Lagos House, Ikeja, said: “The new law tells the story of a full consciousness of how global Lagos State has become in the affairs of things. If people migrate here, choose a home here, set up businesses here and believe from where they come that cremation is the best way in which they want to be treated, I think we should
as a global city provide those standard practices as it is done in many other cities in the world and it is for those who choose to use that kind of service.” “Let it not be said that ‘oh we missed an investment opportunity because we were not responsive to a particular need or we lost interaction because we were insensitive to other people’s belief and this sits well with a report that
was brought to my attention yesterday to the effect that Lagos is now just behind Johannesburg as perhaps the most visited African city on the continent”, the governor said. He reiterated that the State must as expected take her role and provide as many services as possible so that people who visit the city will know that Continued on page 4
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