Can Sasol, South Africa’s dirtiest private company, save itself?
It’s a staple share in hundreds of South African pension funds, yet the petrochemical company has been a woeful investment, losing 46% of its value in the past year. Now, amid simmering shareholder discontent, analysts are questioning whether its plans to become a ‘green company’ are just hot air
Sasol — the petrochemical company founded in 1950 to provide the apartheid state with energy security — must be feeling as if it’s just done five rounds with Dricus du Plessis, South Africa’s mixed martial arts world champion.
“You’ll get the NGOs who say we don’t do enough, you’ll get shareholders who say we’re not doing enough for them, and those who say, from a country point of view, we want you to succeed,” says outgoing CEO Fleetwood Grobler...
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