Economy under severe strain, says Ackerman.

Customers shop at Pick n Pay in Carlton Centre, Johannesburg.
File picture: Leon Nicholas

Cape Town - Pick n Pay chairperson Gareth Ackerman on Wednesday launched a robust defence of South African business and accused politicians of “creating even further uncertainty at a time when our economy is under considerable strain”.

Ackerman used his opening remarks at the company’s annual results' presentation to hit back at politicians, saying: “Despite an anti-business rhetoric, companies like Pick n Pay are doing everything we can to support consumers and sustain South Africa.”

The son of Pick n Pay founder, Raymond Ackerman, noted the company’s “considerable” contribution to the fiscus. “We have invested over R5 billion in new and refurbished stores over the past four years. We have created over 10 000 new jobs. This last year alone, we have paid R470 million in company tax, collected R770 million in VAT and paid R810 million in employee-related taxes.”




Full story at IOL.
By Siobhan Cassidy.