Shell to exit South Africa

JOHANNESBURG - Business Leadership SA says Shell's exit could be a further blow to the already ailing economy.

The oil giant says it is reshaping its portfolio and will divest its shareholding in Shell Downstream South Africa.

It comes amid reports of a dispute with its empowerment partner, Thebe Investments.

Shell operates about 700 service stations in the country.

BLSA CEO, Busi Mavuso says it is bad to lose invested entities while trying to attract new foreign investors.