Sasol's profit plunges 34% as oil & chemical prices fall and Banks face class action over home repossessions

Stephen Grootes speaks to Simon Baloyi, CEO of Sasol about the group’s half-year results as it navigates weaker oil and chemicals prices. While earnings declined and impairments weighed on profit, production at Secunda rose 10% and cost discipline supported positive free cash flow for the first time in four years.

In other interviews, Gerhard van der Merwe, consumer law attorney at Trudie Broekmann Attorneys talks about a landmark High Court case challenging banks’ long-standing use of sales in execution. Lawyer Douglas Shaw is seeking to certify a class action, alleging that homes in arrears were sold for amounts just sufficient to settle outstanding debt, potentially below market value. Major banks deny wrongdoing, saying repossessions are a legal last resort, and are opposing both the certification and Shaw’s conduct. The case could have significant implications for foreclosure law and consumer rights in South Africa.

The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.  
  
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