It’s probably a good thing that Canadian technology investor Volaris is set to buy out and delist Adapt IT from the JSE. It’s an elegant way for Adapt IT shareholders, who’d witnessed the shoddy way it has handled the thuggery claims against founder Sbu Shabalala, to call it quits.

Adapt IT’s ordeal provides a template of how not to handle a scandal — specifically, it’s a cautionary tale of why your annual report shouldn’t brag about "transparent communication", when you manifestly fail to live up to it...

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 or call 0860 52 52 00. Got a subscription voucher? Redeem it now