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Iconic 90-year-old company in South Africa goes from hero to zero | SA News

Staff Writer
 ·31 May 2026

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Analysts say South African pulp and paper group Sappi risks a $2 billion (~R32 billion) debt spiral as its losses mount.

Speaking to Business Day TV, All Weather Capital Chief Investment Officer Shane Watkins and PSG Wealth Manager Ricus Reeders raised major red flags with Sappi’s balance sheet and debt position.

Sappi was founded in 1936 as South African Pulp and Paper Industries Limited, later abbreviated to SA Pulp, and then to Sappi.

The 90-year-old group started…

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