Thanks Bullhunter. Unfortunately, I am not a subscriber to BL premium and cannot read the article. Is there any elaboration on the corruption allegations, or any mention of a pending retraction of these allegations by Amabhungane?
For new EOH boss Zunaid Mayet, who replaced founder Asher Bohbot in May, this year’s precipitous 34% share price plunge is due squarely to bad press.
Mayet is fuming about "defamatory" reports from investigative journalism centre amaBhungane in April that linked EOH insiders — father-and-son team Jehan and Danny Mackay — to Lunga Ncwana, a "shady" middleman in the SA Social Security Agency (Sassa) grants scandal.
"We’ve been very clear in our repudiation of the article and its insinuations," says Mayet, who joined the company in 2009 and headed its industrial technologies division.
"We’ve engaged independent lawyers to come in and do a review [of] the facts in relation to the article. These have been presented to the EOH board and we’re satisfied that there is no truth [in them]. The articles are baseless," he says.
The subscription of R120.00 per month for Business Live is well worth it.