Details of the proposed transaction emerged in a notice published on 18 December by Botswana’s Competition and Consumer Authority, which invited stakeholder submissions “for or against the proposed merger”.
The consultation period is expected to close within ten days. Financial terms were not disclosed.
The buyer would be West International New Building Materials, a subsidiary of West China Cement, which is listed on the Hong Kong Stock Exchange.
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Africa has become a key destination. Huaxin Cement of China paid about $1 billion to acquire a controlling stake in Lafarge Africa from Holcim last year, while West China Cement is already developing cement plants in Ethiopia and Uganda.
AfriSam, a major but unlisted South African cement producer, counts some of the country’s most influential financial institutions among its shareholders.
Africa’s largest asset manager, the Public Investment Corporation, alongside Nedbank, Standard Bank, FirstRand, and Absa, holds significant stakes following years of restructuring. These investors have long been exploring exit options from parts of their holdings.
South Africa’s cement market remains competitive as JSE-listed PPC is the largest domestic player, while other key producers include Lafarge South Africa, owned by Afrimat, and Sephaku, a subsidiary of Dangote Cement.
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The timing of the proposed deal also aligns with government ambitions, as President Cyril Ramaphosa has repeatedly outlined plans to transform South Africa into a major construction hub, upgrading infrastructure to lift economic growth, a policy direction expected to support cement demand over the medium term.
If approved, the AfriSam acquisition would further cement China’s expanding influence in Africa’s industrial and infrastructure landscape.
