Eskom in court to recover R3.8bn; CR on PPE ‘scavengers’; SAB cans R2.5bn upgrades; Choppies; Shoprite
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In today’s business news headlines:
* Eskom and the Special Investigating Unit have issued a summons in the North Gauteng High Court in Pretoria against former executives and board members, seeking to recover about R3.8bn ($220m) that it alleges was diverted illegally;
* President Cyril Ramaphosa has vowed to deal harshly with the alleged corruption in the procurement of personal protective equipment (PPE) calling those who profited from the Covid-19 pandemic, ‘scavengers’ and a pack of hyenas circling wounded prey;
* The alcohol ban has prompted South African Breweries to pull the plug on billions of rand in plant upgrades. SAB announced that it has cancelled R2.5bn in capital and infrastructure upgrades;
* Choppies Enterprises exits the South African market;
* Shoprite shares soar as second-half sales climbed as it gained market share with the initial strict lockdown. Learn more about your ad choices. Visit megaphone.fm/adchoices
* Eskom and the Special Investigating Unit have issued a summons in the North Gauteng High Court in Pretoria against former executives and board members, seeking to recover about R3.8bn ($220m) that it alleges was diverted illegally;
* President Cyril Ramaphosa has vowed to deal harshly with the alleged corruption in the procurement of personal protective equipment (PPE) calling those who profited from the Covid-19 pandemic, ‘scavengers’ and a pack of hyenas circling wounded prey;
* The alcohol ban has prompted South African Breweries to pull the plug on billions of rand in plant upgrades. SAB announced that it has cancelled R2.5bn in capital and infrastructure upgrades;
* Choppies Enterprises exits the South African market;
* Shoprite shares soar as second-half sales climbed as it gained market share with the initial strict lockdown. Learn more about your ad choices. Visit megaphone.fm/adchoices
