A good week

Good company news stories amid the Covid gloom are as elusive as a fair PPE tender, but Shoprite has just defied the worst trading conditions in living memory to produce a 6.4% rise in full-year sales to R156.9bn. That’s no mean feat for CEO Pieter Engelbrecht and his team — though cynics could argue that there’s no money left but for the food shop at your local Checkers. Still, Shoprite is slashing debt and is also set to withdraw from Nigeria — a tough call but probably the best for its shareholders.

A bad week

Cue the waterworks. Brian "Blubberbuss" Molefe might, understandably, be sobbing into his pillow at the news that Eskom and the Special Investigating Unit want to try to claw back R3.8bn stolen from the utility under his reign as CEO. They’re going after him, along with former CFO Anoj Singh and the most active engineer on Twitter, Matshela Koko, to name but three. We can’t say we’re anything but dry-eyed. This is a long-overdue step in addressing the havoc caused by Molefe and his band at the stricken company.

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