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Nampak desperate for a turnaround

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South Africa Headlines News

The packaging company has failed in Africa so far, writing off more than R10bn in value in a decade

The CEO of Africa’s largest packaging company, Nampak, said the group has made progress in its turnaround plans, especially outside SA.

Erik Smuts, who joined the group in January, taking over from now Eskom CEO André de Ruyter, was appointed to Nampak’s board at the company’s annual general meeting on Thursday where shareholders raised their concerns about the company’s performance.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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