BizNews BizNews Radio

Dave Woollam: Tongaat has sold the crown jewels - because it just had to

Loading player...
Shareholder activist Dave Woollam has been keeping us updated on the survival efforts of embattled Tongaat-Hullett, which last week sold its highly profitable Starch division for R5.35bn. Woollam agrees with new CEO Gavin Hudson that the price received was a good one - especially given the stress that everyone knows Tongaat is under. But he also explains that a business which delivered R300m a year to the group's cash flows will be sorely missed. But needs must right now as a group that was once the pride of KZN is forced into selling the crown jewels to keep its bankers from foreclosing. Little wonder that Tongaat's market value is just R400m - one twentieth of the debt that remains after the latest asset sale. - Alec Hogg Learn more about your ad choices. Visit megaphone.fm/adchoices
2 Mar 2020 10AM English South Africa Investing · Business News

Other recent episodes

Corné Mulder says SA could have a new government before 2029

South Africa just joined a short and unflattering list of countries facing individual US visa restrictions, and Freedom Front Plus leader Corné Mulder says he saw it coming from a manifesto launch stage days before it happened. He tells Alec Hogg why he thinks Cyril Ramaphosa's habit of avoiding decisions…
17 Sep 10AM 28 min

GG Alcock says SA's R1-trillion "informal" economy is anything but

South Africa's townships are not a side economy. According to GG Alcock, author of the Kasinomics book series, they're a trillion-rand-plus market that the country's biggest listed companies are already quietly fighting over, from Shoprite's cash-and-carry pivot to Capitec's entrepreneur accounts to Pepkor's handset financing. Alcock, who grew up in…
17 Sep 7AM 49 min

Solly Moeng: BOTH Cyril AND Mashatile are too ill to run the country

In their latest weekly chat, Chris Steyn and Political Commentator Solly Moeng talk about both President Cyril Ramaphosa and Deputy President Paul Mashatile having been declared unfit - because they are too ill - to perform official duties; the US the visa restrictions for certain - still unamed -government officials;…
17 Sep 6AM 16 min
All episodes