When it became clear in early 2020 that the Covid-19 pandemic was poised to wreak havoc on the economy, most companies scrambled to build their cash buffers to navigate the storm.

Except for mining companies, which have been riding on the back of a supersonic rally in commodity prices, companies from property funds to retailers withdrew cash from credit lines, halted dividend payments and stopped buying back shares.          ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now