Shell pulls out of SA
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- Опубликовано: 3 июн 2024
- Oil giant Shell has confirmed it's pulling out of South Africa. The company had established about 600 forecourts since it first started business in 1902. Shell says it's reviewing the downstream and renewables businesses across all regions and markets. Shell Downstream SA was formed after Shell South Africa and black empowerment company, Thebe Investment Corporation, agreed a decade ago to merge Shell South Africa Marketing and Shell South Refining businesses. Thebe held a 28% equity stake. Independent analyst Khaya Sithole unpacks this.
Tune into Newzroom Afrika DStv channel 405 for more.
Khaya Sithole is a smart guy. Hands down! Clear. Knowledgeable.
his a CA
Love this guy unmoved by emotion
It is such a pleasure to listen to Khaya Sithole's analyses on a range of topics. Most insightful commentary.
Eish. The energy minister selling all the oil stored in Cape Town storage tanks at lower than market price is the way the ANC rolls.
Did you listen or is this above your IQ DApartheid apologists ,
Please do invite more of the learned accountants and economists if you are interested in giving the public a balanced view of the state of the country. Numbers, unlike political opportunists never lie. Keep up the good work sir, educating the miseducated is hard.
*BEE is the problem and ANC seems not to care thousand on thousand jobs is lost*
Denial is not just a river in Egypt...
Tebe= 28% BEE stake in Shell , Tebe is the one that wants a payout and go.
Zimbabwe loading slowly but surely
Lools very very slowly...
Thank you Khaya input is detailed and balanced. Great content.
Shell is a franchise. It is the time for those entrepreneurs who want to venture into the oil business to approach Shell to buy the franchises. If they are well-run, the banks will lend the buyers money. Shell will teach the franchisees how to run the business.
Simple hey
🤡
Khaya Sithole is clear, he articulate his analysis and train of thoughts. I love it
This guy speaks very good the anc and eff should learn a thing or two from him
Khaya is the "human version" of ChatGPT if you dont get it, forget about it.
SHELL Is pulling out because they tired of dealing with thier Friends the ANC. Get rid of BEE
This is how Zimbabwe started with the down spirale in the late 90s, look at Zim today, every Zim citizen is on the queue at Beitbridge for their chance to cross to Musina to access free medical help n buy paraffin & rice as they return.
It seems like you forgot we are South Africans not Zimbabweans . Even during struggle we didn’t cross the border in numbers like Zimbabwean and Mozambican. Our struggle fighters are the only one who fled the country and our uncles remained and fought and keep the fire with winnie Mandela. So South Africans have pride they don’t like going to their neighbours and ask for bread and sugar and the list is endless
@@DumaM-ir7rk welele hahaha i will remind you of this comment 10 years later when south africans will be coming to zimbabwe for employment opportunities after ANC has done looted their country dry , when investors leave is a sign of low confidence , a company that generates income twice your country's GDP and for some reason you are not reading the signs of what is to come , smh
@ tapiwanashezvaita1419 don’t teach me about economics. I still maintain South Africans will never leave the country in numbers like Zimbabwean and Mozambican. You guys don’t have war other than sanctions buy you can’t fee your own people. Iran has more sanctions than you but you won’t find their citizen in masses crossing to Dubai or United Emirates. North Korea is another example but they still find ways to make life for their citizens
@tapiwanashezvaita1419 every day we listen to how media boast about intelligent Zimbabweans well educated Zimbos but the same Zimbos education cant translate into investment. Then this is not education because you can’t survive with the skill.
@ tapiwanashezvaita1419 you shouldn’t be worried about proving me wrong in ten years time but you should be working on saving your people since you are clever. Me I am planning how to remove ANC that’s my concern not you. Even if ANC win today as the situation become hard my people will rise against ANC
Thanks to the ideologies of ANC, MK and EFF.
Mabahambe
@@DumaM-ir7rk let who go?
Shell
@ thomasgosling5155 you got the answer from Mthobisi 😜
@@DumaM-ir7rk not concerned about the thousands of jobs and skilled employers we’ll lose?
there are a lot of companies that are yet to leave south Africa ,should the ANC win this election come back to this comment after may 29.
Hate to be reminded, but the troubles looms
@ prano550 that will be a bit of fresh air for those to exit South African economy. They will leave if Zuma win not ANC or EFF or any other political party.
Let them leave...they haven't done good for the country anyway SA will be better off
@@lovedlover2667😂😂😂😂
Sadly that many ppl will lose jobs but it's time as Africans to have our own oil business, coz we were not benefitting as the oil keeps increasing prices. Byee Shell
Government is responsible for the high cost of fuel
The way business is run in SA and corruption it wouldn’t last and would close anyway.
So start your “own oil business”!
Sanctions against Russian and Iranian oil by Shell and other companies of the west is killing us.India's economy is booming from the Russian oil and they are selling it back to the western countries.Sasol must step up this is our chance to buy oil directly from BRICS nations.Good move in my opinion.
SA’s ol has been depleted and stripped by corruption. Gone when it was top of the world game. Thank the government. Long fingers are the asset of the ANC. All long fingers.
You sign a contract, you must abide by the conditions setforth therein, As a lawyer this is straightforward, the BEE partner had every right as per exit clause.. this was a pump and dump scheme by Shell where they inflate the value of the investment to reduce or stave off profit sharing. The exit is a profit run.. ExxonMobil was caught doing the same thing 4.5m of equipment projected as 12.5b.
Exxon mobile story is unbelievable. Now you wonder how many times they got away with that?
@@Peter-bg1kuyes that is how they going around stealing from countries
Blame the ANC, they have messed up the rest of the country, now more businesses are going to leave. The ANC will be super happy if there is 90% unemployment in this country.
please expain how its the anc fault ?
Yes, more people to beck for more welfare Ya Ya, i am getting my R350 for free. No more jobs and no more entrepreneurs . Now please how are yoi going to milk for Sassa grants . I HAVE A FULL LIVE I CAN NOW LIVE MY LIFE IN FULL WITH THE R 350 grant 🎉🎉🎉🎉🎉🎉🎉🎉
@@user-tb4jv3tl4vdoes the ANC Not have a stack in the investment company. ? So They require a BEE partner the partner sells its stack but Shell cant operate as they need a BEE partner. So they get a another partner a few years down the line this partner decides to sell so shell has to pay them off and needs to finds a new partner again, and the cycle continues
S
@@user-tb4jv3tl4v They are nasty, greedy leaders, just look at the state of every entity they have touched, everything turns into shit. The other oil companies are also getting ready to leave. Shell is the first one. Anglo is leaving.
@@timjacobs7104 tax base is shrinking though, what will happen if one day the ANC / EFF can't pay grants?
Thank you Ramaphosa!!!!
What's with these news room reporters 😮😂😂
...more companies to disinvest in S.Africa, it's unstoppable.
They can go ahead and disinvest . Because we know they will come back through the back door . Another BEE candidate has been found if not. We know they will render South Africa ungovernable and once that happens militia group will be used to mine or they will get the zama zama to mine oil
Shell sold out in Malaysia as well
Everything that the ANC has touched has turning to shit...Transet, SAA, POST OFFICE and the list goes on.
This is true ✅
Dismantle and rebuild. That's the point.
Shell survived the big depression and a hundred and twenty two years of business in SA but could not survive the ANC. 🙈
This commentary is incoherent. The "country" does not "have policy decisions", those policies are made by the government of the day.
Am just shocked that the Shell Wild Coast issue is not brought up in this discussions. I think Shell is just frustrated by the processes in SA, not only political but also Environmental activism. They just can't get things done the way they prefer.
They didn’t wanna pay enough to get their way as is the norm in this country
Exactly they want south africN based oil companies. This will only be good for Sasol and the likes.
Shut up@@DumaM-ir7rk
So now what's happening with the She V+ card???
Eat them my brother and stop buying ko Shell as from today
Good good Shell
I have a question that someone here may be able to enlighten me on: let's assume that Shell stayed, and Tebe divested it's 28% share. How then would Shell handle BEE or be BEE compliant. Is it the rid of BEE partners?
That is the right question!
The anc wanted payouts from Shell and tried to over inflated thier payouts..
@@Cent51 Yes, I understand that. Does not address my question, though.
If Tebe leave they will have to be replaced with another BEE lot to maintain compliance.
@@jacobusjonck2172 Thanks for the feedback. When you say "replaced", does that mean GIVE another batch of shares to the next BEE partner(s). If that is so, then surely every major BEE compliant corporate in SA runs the risk of an ever continuing cycle of share donations until they have nothing left or are heavily diluted (in the event of new share issuances).??
So sad, one can see how these employees are demotivated I passed through a Shell Garage refueling, the guy left my fuel door open I saw it later along the way.
😂 this is a reminder that we must never depend on others
A lot of people in the comments didn't listen to the interview 😂
And soon Massmart to leave aswell!
Who ?
@@otis3744 makro game builder warehouse...
There so many oil campany who will run thier business
They are not exiting but coming back through the back door using local elite. They could win the case and now they are angry
If you want to do well in business, do exactly the opposite of what the Bantu business community does.
Look my man all enterprises are cone down in SA mmmmmmmm from a too z go look
Good!
This is where most of South Africa's current problems started 👉 "Downstream SA was formed after Shell South Africa and "black empowerment" company Thebe Investment Corporation agreed a decade ago to merge"
One of tbe ANC best achievements... Prove that they are useless.
Tebe owns 28 percent only in the downstream part which is running a loss, batho batho recently bought over tebe which means ANC owns tebe therefore owning 28 percent of shell Anc thought if they cash in they will make billions but they stupid cos the downstream is losing and the upstream is making money😂😂😂
Shell has been a leaving company we saw it when it left the agricultural market amd rover theor equipment in some farms in other not that's why you saw the formation of the agricultural cooperatives supplying themselves with fuel and most of the deposit and Gantries were sold for cheap and Glencore will finally buy the downstream shell business already they have bought the distribution facilities. The next biggest fuel brand
Can that BEE patner take over, is it well equiped to run the business. why do they want to withdraw whole 3bil rand, it does not make sense
Since when can a BEE partnerrun a complex business successfully? Name one example.
But this is rat good news..in the scheme of things.Capital should remain in their countries of operation..no to repatration and other things.SA shouldnt shed a tear...locals should and will step up...
The same locals who has very little work ethic and no new ideas.....
@user-ez9en7vk2z Beneficiaries of apartheid don’t have peace indeed. They think they are special when they use to received everything on the silver plate. If all of them are so intelligent then how come some of them as so poor today . The streets of Europe , America and South Africa tells a different narrative about the chosen nation that strongly believe they are all intelligent and they must rule over mankind .
@user-ez9en7vk2z the mind of apartheid never change. He really think he is a hard worker but forgets his privilege as a white men compared to other race
@user-ez9en7vk2z even after 350 years you still believe whites have everything because of hard work. I am not suprised that to this day ANC still borrow you pension money saved by blacks but AnC won’t borrow other blacks the same money
@user-ez9en7vk2z you must be an honest human being before you lie to the world apartheid sympathisers. Sort out your bias mentality and then we can have a decent discussion. I couldn’t care less if shell is leaving. This guys they never pay proper tax, they uproot families from their ancestral land this mining companies and leave people worse of than before
"How long this decision has been in the pipeline, no pun intended" 🤣
Its ok cos they insisted they had a shower afterwards
😀😀😀😀😀😀😀😀
Lol..yep
Did dude get Chat GPT to write that for him.. 😂
I am sure the ANC is invloved with Shell moving out of SA
Cant wait for all the big companies to pull out . 😂 👍
@boerplaas388 cant wait for you to pull out as well.
They just opened a new shell service station now In East London. 😂eish
Well they f that owner because they knew such decisions long ago. This are not decisions taken over night.
Can this out stop reading and speak from a page. He almost looked professional
arent u a tiny bit jealous a black guy is smarter than u maybe...i think u might be
If you have any money in South Africa, run fast.