Brian Joffe’s investment group Long4Life, which owns beauty chain Sorbet and Chill Beverages, views share buybacks as the best use of its money rather than acquisitions, having managed to mostly hold on to its cash pile in spite of the Covid-19 pandemic.

Long4Life's share surged 13% to R2.94 on Wednesday, its best performance in seven months, giving the group a market capitalisation of R2.4bn. The group's share has lost more than a quarter of its value in 2020, and trades at a hefty 54% discount to the group's net asset value per share...

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