/ 6 May 1999

TOP NAIL MEN QUIT

NEW Africa Investments Limited chairman Dr Ntatho Motlana and executive director Jonty Sandler have quit the black empowerment giant, following weeks of speculation and anger over a proposed bonus scheme. Motlana, Nail’s founder, and Sandler have also quit all their positions on the boards of Nail subsidiaries. The group is currently worth over R10-billion in market capitalisation, making it by far the largest of the country’s new crop of black holding companies.