Nampak confident it can win its debt war amid demand recovery
Falling oil prices had prompted Nampak to write down R2.2bn of goodwill in Nigeria in its 2020 year, but it says growth there has been surprising
Nampak, Africa’s largest packaging group that has been trimming and simplifying its business, is confident that it will generate enough cash to cut its debt without forced asset sales or tapping shareholders.
Nampak’s R4.7bn net debt pile compares unfavourably with its R2.8bn market value, but CEO Erik Smuts told Business Day the group is now more confident about the size of its footprint. Current focus is growing the trust and confidence of both customers and the market...