Local is not lekker for SA companies — from construction to sugar
The 10 worst SA performers tell a tale of an ailing economy, with only palladium bringing any hope
It is not even the end of the first quarter and already there is a plethora of once-significant SA companies that have either collapsed or had their share prices hit the wall. The likes of sugar producer Tongaat Hulett, tech provider EOH Holdings, Blue Label Telecoms and Aspen Pharmacare have lost billions in value, sending tremors through an SA market still reeling from the shock of retailer Steinhoff International’s more than 90% plunge since December 2017. The latest in the sorry line-up is construction company Group Five, which went into administration on Tuesday after running out of funding. While property and construction have suffered some of the worst declines this year, the malaise is not limited to those industries. From technology to telecommunications, retailers, consumer goods, agriculture, education and financial services, SA companies are battling with crippling unemployment levels, plummeting business confidence, instances of corporate malfeasance and a lifeless econ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.