The SPAR Group has issued a strongly worded rebuttal to recent media coverage, pushing back against what it describes as inaccurate and misleading allegations linked to a BDO South Africa report and claims made by prospective retailer Mr Amaan Sayed.
At the centre of the dispute is the characterisation of the matter as a “VAT fraud saga” — a label SPAR flatly rejects. The group says no finding of VAT fraud has been made against it or any corporate store in any legal, accounting, or regulatory forum. It adds that its external auditor, PwC, has raised no reportable irregularities regarding the group’s financial reporting or governance.
How the dispute unfolded
SPAR says the BDO report was commissioned by Sayed himself as part of his due diligence to re-acquire the Bloed Street SUPERSPAR and TOPS at SPAR stores. The group describes it as an agreed-upon procedures engagement — not a forensic audit — and says it makes no findings of systemic misconduct within the broader SPAR operation.
REPORT: BDO Exposes VAT Fraud at Spar
What has drawn particular attention is the timeline of events. Sayed received the BDO report in September 2025 yet continued negotiations and signed a sale agreement as recently as February 2026. Regulatory complaints, SPAR notes, were only filed after his application for membership of the SPAR Guild was declined — a sequence the group says reveals the true motivation behind the allegations.
Guild membership at the heart of the matter
The SPAR Guild, made up of independent retailers across the country, is the governing body responsible for approving membership within the SPAR network. The North Rand Regional Committee declined Sayed’s application for re-admittance based on established criteria, including considerations around credit history and brand stewardship. SPAR says the Guild stands fully behind that decision and will firmly rebut any attempt to frame it as anything other than proper governance.
Legal action and leadership defence
SPAR says it has placed Sayed on legal terms and instructed its attorneys to pursue all available remedies relating to defamatory statements and an alleged breach of a confidentiality agreement connected to the report.
The group also defended its Chairman, Mr Mike Bosman, against calls for a “delinquent director” declaration under the Companies Act. SPAR described the request as baseless, vexatious, and without merit, expressing full confidence in Bosman’s leadership.
Looking ahead
Despite attempts at constructive engagement, SPAR says unfounded allegations have continued to surface publicly, causing reputational harm to both the brand and its wider network of independent retailers. The group says it remains focused on its strategic reset and long-term value creation, and will not be distracted by what it describes as an effort to undermine its progress.