Culled—Proshare April 15, 2020 by CardinalStone Research The transformational story of Lafarge Africa Plc (WAPCO) was largely about its handling of endogenous challenges of seeking resolutions to the margin-dilutive South African operation and a huge FX debt in FY’19. With the spread of coronavirus in Nigeria, the business faces a […]

Culled—Proshare April 9, 2020 By CardinalStone Research The Nigerian cement sector may be set for a difficult FY’20 on account of the coronavirus pandemic. We also expect the sector’s full recovery to take at least 2 years, in line with the macro guidance of African finance ministers. These expectations result […]

April 8, 2020/Cordros Report WAPCO’s impressive 2019FY standalone earnings cement our long-held view that Lafarge South Africa Holdco. (LSAH) has been the major drag to the group’s business over the last few years. Prior to the disengagement, LSAH had reported a loss of NGN9.4 billion over 7M-19. At that run-rate […]