JM Busha
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JM BUSHA OF JM BUSHA INVESTMENTS
The economic crisis bedevilling Zimbabwe has caused South African retailer Pepkor to close shop. Pepkor, which trades under the Power Sales brand in Zimbabwe, said a challenging economic environment had resulted in the company making a R70m after-tax loss. On Monday it published its audited results for the year ended September 30, 2019. "The decision to exit Zimbabwe was based on the continued adverse macroeconomic conditions affecting trading and weakening currency," Pepkor said. "Management is in final negotiations with the relevant parties to conclude the terms of sale
The economic crisis bedevilling Zimbabwe has caused South African retailer Pepkor to close shop. Pepkor, which trades under the Power Sales brand in Zimbabwe, said a challenging economic environment had resulted in the company making a R70m after-tax loss. On Monday it published its audited results for the year ended September 30, 2019. "The decision to exit Zimbabwe was based on the continued adverse macroeconomic conditions affecting trading and weakening currency," Pepkor said. "Management is in final negotiations with the relevant parties to conclude the terms of sale
