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Pepkor directors reportedly voted against R21bn fintech merger

Published

An insider says some of Pepkor's own directors opposed the planned merger of its fintech arm with a rival business. The deal has upset some directors and investors, who say shareholders did not get a vote.

Pepkor is an African clothing retailer. Its fintech arm is to merge with a rival business in a deal valued at R21bn.

Some directors and investors are unhappy because shareholders were not allowed to vote on the merger. The claim that directors voted against the deal comes from an insider, and Pepkor has not confirmed it.

Key facts

Who
Pepkor (African clothing retailer whose fintech arm is to merge with a rival business)
What
Pepkor's proposed merger of its fintech arm with a rival business, valued at R21bn, has upset some directors and investors, who say shareholders were not allowed to vote on it. An insider says Pepkor's own directors voted against the deal.
When
12 October 2026
Status
Reported

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