AYABONGA CAWE: Some BEE deals are nothing short of rackets
City Lodge shareholders must have looked on enviously as Phuthuma Nathi paid 80,000 shareholders their dividend over the past week. Shareholders in the hotel group were asked to approve a R1.2bn rights issue.
Admittedly, sector dynamics matter — we have all been glued to our pay-TV screens during the lockdown, and advertisers have followed us in those nightly binges. In the hospitality and accommodation sector, things have not continued as smoothly.