Why Shoprite wants to pay Christo Wiese R3.3bn

Why is Shoprite asking its shareholders to approve the payment of R3.3 billion to Christo Wiese in exchange for his high-voting shares?

Christo Wiese. Picture: Supplied.

JOHANNESBURG - Why is Shoprite asking its shareholders to approve the payment of R3.3 billion to Christo Wiese in exchange for his high-voting shares?

What does the deal entail?

Ray White (in for Bruce Whitfield on The Money Show) interviewed Simon Brown, financial educator at Just One Lap.

"Why are we as shareholders being asked to bail Christo Wiese out?... Shoprite could just say, ‘Sorry about your loss of wealth’…," Brown says.

Listen to the audio below for more.