Nampak will stick to a cost-cutting and debt reduction strategy spearheaded by its outgoing CEO Andre de Ruyter, who takes the helm at debt-laden power utility Eskom in January.

Africa’s biggest packaging company, which swung into a hefty annual loss of R1.5bn, has been selling off noncore assets to raise funds to pay down debt, cutting costs and pushing deeper in high-margin but problematic markets in the rest of the continent to offset slow growth at home.

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