Premium: Sasol’s recovery attributed to Fleetwood and Team’s restoration of credibility

When the stock market's panic over Covid-19 was at its peak, we recommended a sizeable investment into Sasol shares which had dropped into the 20s. Despite our portfolio's policy of NOT buying into resources counters, Sasol was ridiculously under-priced..The BizNews portfolio's opportunistic purchase of Sasol at R27 a share on March 24, 2020 looked shaky for a while as the stock fell further, to R22. Three months on, however, the share price had surged to R140. we advised taking profit. It looked like Sasol's best was behind it. Not so, as the graph above illustrates..___STEADY_PAYWALL___.What happened? In his Chairman's Statement accompanying Sasol's recently released 2021 annual report Sipho Nkosi refers to "lost credibility from our past performance". But that's very much in the past. He praised new CEO Fleetwood Grobler and his team for meeting all 2021's short-term targets and "exceeding expectations on several.".Looking ahead? Nkosi is confident: "We have proven our resilience and commitment to deliver on our promises…this bodes well for what we can achieve going forward. I have full confidence on the management team's ability to deliver on our strategy." Good news if you're still holding Sasol shares..More for you today (click on linked headline to access) – .* RW Johnson: Afrikaner and ANC achievement compared. The facts speak for themselves, says the Oxford Don, as he looks at what SA's former and current rulers achieved..* More ructions at Absa as lead independent director, Zuma's nemesis Sipho Pityana, goes to court. The former AngloGold boss claims Absa's ex-CEO Maria Ramos got regulator to stop his appointment as chairman..* Solar and wind force poverty on Africa. Ugandan president Yoweri Museveni says letting the developing world, and Africa in particular, use reliable energy doesn't mean a climate disaster..* US Covid-19 battle turns a corner as borders open to foreign travellers. Crowded planes, eased mask mandates in San Francisco and jammed pumpkin patches..* PS Our monthly portfolio update is at noon today. I'm very excited about the new stock being added to the portfolio. Attendance is only for Premium subscribers. Click here to register..NB FOR YOUR WALL STREET JOURNAL ACCESS….As a Premium subscriber you are entitled to full membership of wsj.com (normal price $29 a month). Be sure to action your access through the Premium link on the BizNews website. Because of The Wall Street Journal's credential requirements, be sure to create a password which has at least 8 characters and includes at least one letter and one number – NB it MAY NOT contain any special characters (ie #, !, @ etc). To maintain access to WSJ.com, you MUST enter our partner's website via BizNews Premium at least once a month. A final PS, if you had previously signed up for WSJ you'll need to clear the cookies from your device. Our help desk can assist – support@biznews.com..If you'd like to help sustain our independent voice, why not share the love by making a gift that keeps giving? Click here to access the BizNews Premium subscription signup form, and be sure tick the relevant box. At R100 a month and inclusive of full membership of The Wall Street Journal, it's a mind-expanding gift at an incredibly modest price.

Premium: Sasol’s recovery attributed to Fleetwood and Team’s restoration of credibility

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