Top 10 companies stories in 2023

Here's a collection of the most popular company stories for 2023.

1. Dis-Chem says white dispensary clients left after CEO’s letter

By Katharine Child

Pharmacy chain Dis-Chem had to swallow a bitter pill after an internal memo by founder and CEO Ivan Saltzman was leaked to the public. In the memo Saltzman said the group would no longer be hiring white people.

2. Jobs at Denny Mushrooms farm go up in smoke

By Lyse Comins

KwaZulu-Natal's largest mushroom farm was closed due to fire damage from a suspected arson attack while the plant was engaged in wage negotiations with staff.

The JSE-listed Libstar-owned Denny mushroom factory in Shongweni was closed down soon after the incident, resulting in the loss of 315 jobs. The farm is yet to be rebuilt as Libstar considers the cost implications.

3. Spar directors ignored whistleblower’s warning on SAP disaster

By Katharine Child

While most retailers have found it tough going of late in the prevailing high interest and inflation rate environment, Spar has found it the most difficult following a comedy of errors by the company. The latest, which cost it R1.6bn in sales was the botched implementation of SAP software in one of its biggest markets, KwaZulu-Natal.

4. Old Mutual sets minimum employee salary at R15,000

By Kabelo Khumalo

Old Mutual said in April that it was bumping up its lowest wage level to R15,000, while also committing to paying new employees no less than that amount. Among other reasons, the move was to reduce the difference between its highest and lowest paid earners.

5. Standard Bank fires 82 staff involved in MyMo accounts debacle

By Garth Theunissen

SA's largest bank by market value was forced to let go of staff members involved in a scheme to boost sales by opening accounts in clients' names without their consent. Of the 200 employees that were investigated in the scheme, 82 were eventually fired.

6. Outgoing Discovery Health boss Ryan Noach finds new home

By Kabelo Khumalo

Following 15 years at the company Discovery Health CEO Ryan Noach announced a change in careers with a move to DNI, an entrepreneurial group which operates in the telecommunications, retail and technology sectors. He replaced that company’s cofounder Andrew Dunn, who was set to transition to the role of executive chair, it said.

7. Municipality scoffs at Rupert’s valuation of Leopard Creek

By Kabelo Khumalo and Denise Mhlanga

SA’s richest man Johann Rupert got involved in a spat with a local municipality over the value of Leopard Creek Golf Estate. While Rupert claimed the property was worth about R330m, the municipality assigned it a value of more than four times that. Rupert said at the time the municipality, which offered no services at all to the property, was trying to scam him.

8. Capitec warns of ripples from VAT dispute with Sars

By Kabelo Khumalo

Capitec Bank, one of SA’s biggest success stories, said R72m in VAT deductions that the SA Revenue Service disallowed would have far-reaching effects for the sector as a whole and bank customers. In losing its case at the Supreme Court of Appeal, the predominantly unsecured lender said the decision would cause ripple effects which would end up hitting clients' pockets.

9. Cyril Ramaphosa’s brother appointed to 4Sight board

By Nico Gous

President Cyril Ramaphosa’s younger brother Douglas set tongues wagging after he accepted a role on the board of technology group 4Sight. Douglas Ramaphosa is also on the board of private education provider Curro, following a previous stint as independent nonexecutive director of higher education group Stadio, which was unbundled from Curro in 2017.

10. MultiChoice mulls compromise on password sharing

By Mudiwa Gavaza

MultiChoice, the owner of DStv, infuriated some of its customers when it introduced a limit on the number of people that could use their services at a single property. After allowing sharing between devices within a household, it abruptly changed its mind, effectively allowing the viewing of only one channel at a time.