START YOUR MORNING BY LISTENING TO TODAY’S BIZNEWS BREAKFAST BRIEFING – Tempered Fed approach helps shares; Tongaat shareholder revolt; Prof Jansen hits ANC jugular; Remote work is changing USA
Catch up with the latest on BizNews.com
- Tongaat shareholder revolt – activist Woollam demands board resigns
- SA’s on slippery slope towards a failed state
- South Africans speak out: “We’re behind ‘tell it like it is’ Hersov”
- MTN in discussions to bring Telkom on board – again
- MUST READ: What a dispiriting experience teaching in SA has become
- SLR: UK’s just too Woke for its own good
- Secure your wealth by investing in offshore property
- Euro slips below dollar as Europe’s economic fortunes slump – (Premium)
Thought leaders say time to hit the eject button – on Tongaat and ANC
The news flow tends to move in waves. Right now in South Africa, dramatic change is in the air. We’re seeing even previously thoughtful commentators losing patience.
Shareholder activist Dave Woollam, for instance, has been playing nice with Tongaat for three years. It started when he approached the board of directors with a warning that something serious was wrong, well before the accounting fraud scandal erupted.
He was firmly rebuffed, to shareholders’ enormous cost. After Friday’s announcement that the company no longer satisfied the basic accounting requirement of being a ‘going concern’, Woollam has switched from Poodle into Doberman mode.
There’s a similar approach being adopted by globally respected academic Prof Jonathan Jansen. As my colleague Michael Appel discovered in Friday’s interview, when it comes to the ANC the Prof’s gloves are well and truly off – “vote these buggers out” he urges. After hearing this government promising to double up by creating ANOTHER Eskom, who can blame him?
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