Star 2024-03-11

FIRSTRAND has thrown Pick n Pay a lifeline, with the South Africa debt laden grocer renegotiating terms for loans it carries on its books ahead of a stated Boxer spin-off and separate initial public offering (IPO). Boxer has been Pick n Pay’s star performer as South African consumers opt for value propositions and analysts say the Boxer IPO is likely to be oversubscribed. However, it is Pick n Pay’s debts that have heightened the company’s challenges at a time rival operator, Shoprite is accumulating more market share. “It’s a much-needed reprieve and a lifeline that means the retailer is able to sort out its mess in due course and also frees up some breathing space for the IPO,” said a manager with a retail…

R124.8 bn deal will create one of the world’s largest makers of packaging IN ONE OF the biggest multinational corporate deals this year, packaging and paper group Mondi said on Friday that it plans a mega-merger with UK-listed DS Smith for £5.1 billion (R124.8bn), in a deal to create one of the world’s largest makers of packaging. The proposed all-share deal, the full terms of which still have to be finalised, aims to create “a pan-European industry leader … with complementary geographic footprints … a strong balance sheet and cash flow, and the potential to deliver substantial benefits to shareholders, customers, employees and stakeholders,” Mondi’s board said in a JSE regulatory notice. DS Smith’s share price soared 5.2% in London on Friday to 341.99 pence. For its shareholders,…

AN ECOSYSTEM approach to industry is a game changer for women-led businesses, according to Namhla Mniki- Mangaliso, co-chairperson of the Women Economic Assembly, Private Office of the President. She was speaking at the 8th Gender Equality, Wellness, and Leadership Sum- mit, in recognition of International Women’s Day, held on Friday. The sum- mit was held alongside the annual Open- ing Bell for Gender Equality at the JSE with a panel discussion on “Building Inclusive and Sustainable Economies”. Dr Precious Moloi-Motsepe, the co-founder and CEO of the Motsepe Foundation, said: “Today, although we are celebrating International Women’s Day, we are pointing to the crisis of a lack of women, particularly in stock exchanges.” She emphasised the im- portance of actively transforming eco- nomies, saying: “While women have made strides in education,…

DR SIBONGILE Vilakazi, the suspended president of the Black Management Forum (BMF), last week filed a Notice of Motion in the High Court Gauteng Division to declare ten of the organi- sation’s investment arm “delinquent directors” as contemplated in the Companies Act. The legal action comes only two months after the board of the BMF in January suspended Vilakazi, amid Wits Business School (WBS) moonlighting allegations that rose in 2023. The BMF said at the time the suspension was in place until her name was cleared to protect the organisation’s integrity and reputation. Vilakazi alleged that there was corporate jostling for control of the BMF’s Investment arm (BMFi), which offers lucrative board sitting allowances and a front seat to steering fresh deals. The BMF, which is a non-profit organisation, owns…

IN THE AGRICULTURAL heartlands of South Africa, the symbiosis between land and livelihood is profound. Farmers, the custodians of the soil, are tasked not only with cultivation, but also with the economic and financial responsibility of ensuring that their investments reflect the land’s productive value. An appropriate evaluation of a farm’s productive value against its price is not just important; it is imperative for the sustainability of agricultural enterprises. Farmers must perform due diligence to ensure that the land’s value is congruent with its ability to yield returns. A disconnect between land prices and productivity can contribute to financial strain, underutilisation of resources, and in extreme cases, forfeiture of the land itself. A tool like Geographical Information Systems (GIS) that enables the user to visualise, question, analyse, and interpret data…

POULTRY products, that is meat and eggs, are an essential source of afford-able and nutritious animal protein for the majority of South Africans, in particular the low- and middle-income households. South Africa is currently a net importer of poultry meat, implying the country does not produce sufficient volumes to satisfy local consumption. Imports account for roughly 20% of domestic consumption, and imports have been gradually declining in recent years, underpinned by effective safeguards measures. These measures include anti-dumping duties imposed against certain countries that distort the domestic market. The decline in imports can also be attributed to local investment fuelled by the implementation of the Poultry Master Plan. While protecting domestic producers against trade distortion practices is crucial for the sustainability of the poultry industry, safeguarding the competitiveness and efficiencies…