South Africa's biggest fertilizer producer Omnia was profitable in the year to March after extensively restructuring its business units. Omnia CEO, Seelan Gobalsamy joins CNBC Africa to breakdown the results.
Omnia responds to Benguela's allegations.
As Omnia’s shareholders approve restructuring plan, here’s why Benguela was advising clients to dump the stock
Benguela Global Fund Managers say that Omnia’s rising debt levels and balloon working capital requirements were among the reason they advised clients to dump the stock. Having sold out of Omnia at R68 a share, the fund managers are now alleging the management is destructing shareholder and a lack of adherence to ESG standards. CNBC Africa’s Karabo Letlhatlha sat down with Karl Givers, Head of Research, Benguela Global Fund Managers.
What do Omnia, Aspen and Nampak all have in common? They are the increasing number of JSE-listed companies that have analysts and shareholders concerned about their debt. CNBC Africa’s Kopano Gumbi spoke to packaging company Nampak’s CEO André de Ruyter about its debt and why he is really concerned about South Africa.
Metal can manufacturer Nampak has been struggling to find its footing in the declining economy and some investments, but a green shoot is sprouting in Nigeria and the CEO Andre de Ruyter remains optimistic that it can turn the business around. He sat down with CNBC Africa reporter Kopano Gumbi.