SA expects decisive leadership from the president, including the fight against Covid-19 and holding his Cabinet to account, writes Mpumelelo Mkhabela.
High level clouds. Mild.
Edcon expects to lose R800 million in revenue during the national lockdown. But having received help just a year ago, would there be appetite from creditors and others to extend a lending hand again?
President Cyril Ramaphosa released the 995-page report into allegations of impropriety at the state-owned asset manager this week.
Seven of the top 30 economies whose retail sector showed considerable growth in 2019 were from Africa, however SA did not even get ranked among the 200 economies featured.
Struggling retailer Edcon has shut the doors of one its underperforming Edgars stores in Rosebank Mall as a cost cutting measure.
The Competition Commission has given the nod to Footgear's proposed purchase of Edcon's Edgars Active and High Key chain stores, saying it recommends the Competition Tribunal should approve the deal without conditions.
Ex-PIC head Dan Matjila has said part of the reason he was removed was so that a deal to save Edcon could be finalised before the national elections.
The former head of the PIC says he was removed from his job so politically connected people could influence the fund's investment decisions.
Labour union federation Cosatu signaled a "massive fight" with the ANC if state-owned fund manager the Public Investment Corporation failed to rescue the country’s second-largest clothing retailer, Edcon Holdings.
The Competition Tribunal has approved, subject to certain conditions, the state-owned IDC's acquisition of Celrose - of which Edcon is a majority shareholder.
The recapitalisation process of the country’s largest clothing retailer, Edcon, is moving forward at a normal pace, says CEO Grant Pattison.
Edcon has something in common with troubled state-owned airline South African Airways: it has been on life support for a long time, says Evan Robins, portfolio manager at MacroSolutions, Old Mutual Investment Group.
Grant Pattison has expressed frustration with Edcon's current customer service.
RCS has been given the go-ahead by the Competition Tribunal to acquire Edcon's book debt.
The Competition Tribunal has approved a merger which will see Edcon selling the Edgars Active and High Key chain stores to Footgear, in which Old Mutual has a majority stake.
Old Mutual's private equity arm is backing a plan by Footgear to buy a unit of Edcon in southern Africa to create one of the region’s largest sports and casual wear businesses.
Ousted PIC chief Dan Matjila is expected to say his opposition to funding the rescue of clothing retailer Edcon ahead of national elections was one of the reasons he was dismissed.
The Public Investment Corporation said its decision to invest in retailer Edcon is based on sound commercial, social and governance principles.
The Constitutional Court has dismissed an appeal by 1 818 retrenched employees of retailer Edcon.
Edcon has raised R2.7bn from lenders, landlords and the Public Investment Corp as the clothing retailer wraps up its latest restructuring plan.
The Public Investment Corp, Africa’s largest fund manager, may provide R1.8bn to assist the company, says the people, who asked not to be identified as the information isn’t yet public.
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