Ramaphosa’s massive cabinet reshuffle – including a new finance minister
- Staff Writer: Staff Writer
Newly-elected president, Cyril Ramaphosa, has announced his new cabinet in a press briefing.
Tim Noakes is confident he will win
- Staff Writer: Goitsemang Tlhabye
Professor Tim Noakes was being used by the Health Professions Council of South Africa (HPCSA) as a “guinea pig” to test waters on guidelines for the conduct of health professionals on social media, which did not exist.
Retail to adapt in order to cope with water crisis
Consumers are not the only ones who have to tighten taps in Cape Town. As South Africa’s ‘Mother City’ approaches dreaded Day Zero which has been estimated to occur in May 2018, retailers and shopping centres too, have to rethink their strategies to ensure survival.
Whitey stands by Christo Wiese
- Staff Writer: Mark Allix
Former Shoprite Holdings CEO Whitey Basson says he vouches for the honesty of his friend and fellow Shoprite shareholder of many years, former Steinhoff chairman Christo Wiese, and will assist the collapsed furniture, apparel and home products retailer if he can.
Christo Wiese quits board as Steinhoff scandal deepens
- Staff Writer: Nick Turner and Eric Pfanner, Bloomberg News
Steinhoff International Holdings chairperson and largest shareholder, South African billionaire Christo Wiese, is stepping down from the supervisory board after an accounting scandal engulfed the retail giant.
Dis-Chem raises R1.1bn but sentiment sours on news of executive sales
- Staff Writer: Robert Laing
CEO Ivan Saltzman, executive Stan Goetsch and director Niall Hegarty sold 32-million shares. Pharmacy group Dis-Chem has raised R1.1bn to fund its expansion, but the news failed to impress shareholders.
Steinhoff woes mount as Moody's downgrades retailer by four notches
Moody's Investors Service downgraded Steinhoff by four notches to B1, and placed the global retailer's rating on review for further downgrade.
Steinhoff moves to provide ‘comfort’ on its liquidity after shares plummet
- Staff Writer: Staff Writer
Dual-listed retail holding company, Steinhoff moved into damage control mode on Thursday as it attempted to assure investors of its liquidity amid rumours of debt issues.
Steinhoff exercises its call options for Shoprite
- Staff Writer: Dineo Faku
Africa's biggest food retailer, Shoprite, confirmed that Steinhoff Africa Retail (Star) had exercised the call options to acquire a 23.1percent economic stake in and a 50.6percent voting control of the company.