UIF & PIC in talks with Edcon over a potential lifeline

South Africa’s oldest retailer Edcon has confirmed the expected – that it may not emerge from Covid-19 lock-down alive. The 90-year-old retailer has entered voluntary business rescue after losing R2 billion in sales during the COVID-19 crisis and lock-down which has made it difficult to pay suppliers and debtors. Joining CNBC Africa to discuss what a rescued Edcon may look like in future is Teboho Maruping, Commissioner, Unemployment Insurance Fund.

Wed Apr 29 2020 | 16:28:33 GMT+0000 (Coordinated Universal Time)

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.