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South Africa

PROFILE: Yael Geffen, spearheading the family dynasty

BY JOAN MULLER

As the newly appointed CEO of Sotheby’s International Realty SA, Yael Geffen becomes the only woman to head one of SA’s top four real estate groups. At 38, she’s also one of the youngest CEOs in the industry. She has the daunting task of spearheading the family dynasty’s next growth phase at a time when the industry is facing a number of challenges.The family legacy spans nearly 65 years and was founded by Geffen’s late grandmother and industry trailblazer Aïda Geffen, who founded Aïda Real Estate in 1952 and later listed the company on the JSE.

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Lorna Scott, a South African entrepreneur building a gin brand that is exciting the world’s tastebuds

There is something special about passionate people who create products that celebrate the natural indigenous ingredients that come from one place, making them truly unique. Lorna Scott, the entreprenurial inspirational behind the fabulous Inverroche gin brand, is one such passionate creator and brand builder, inspired by the natural botanicals that grow in the world’s smallest yet richest floral kingdom.

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Sasol announces new R21bn empowerment deal, with Inzalo under water as it nears its end

BY ALLAN SECCOMBE AND CHARLOTTE 

Sasol, the coal-to-liquid fuel maker, unveiled a fresh R21bn empowerment scheme for its South African assets, after the first scheme was under water as it approached the end of its vesting period. In an enormously complicated transaction, Sasol is terminating its Inzalo empowerment scheme and replacing it with the Khanyisa transaction, which will result in at least 25% black ownership of Sasol’s wholly owned subsidiary, Sasol South Africa, for 10 years from 2018. Sasol shareholders need to approve the transaction, which includes an employee share ownership scheme, public investment in the company’s shares, 54 selected customers, suppliers, franchisees and nongovernmental organisations as well as a foundation.

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EOH reports big jump in full year earnings and profit

By 

Listed IT service company EOH has published its final results for the year ended July 2017. The company reported that annual revenue increased by 21% to R15.5 billion (from R12.8 billion previously) while gross profit grew to R5.1 billion (2016: R4.1 billion). Operating profit before interest and share of equity-accounted profits rose to R1.8 billion (2016: R1.4 billion), while profit attributable to owners jumped to R1.2 billion (2016: R0.9 billion). Headline earnings per share were higher at 832 cents per share (2016: 719 cents per share).

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