South Africa’s retailer Massmart appoints Abdool-Samad as new CFO

SOUTH AFRICA –Massmart, Walmart’s subsidiary in South Africa, has appointed Mohammed Abdool-Samad as the chief financial officer effective August 1 2019, reports Business Day. Abdool-Samad who is currently the chief finance officer at Illovo Sugar, will succeed Johannes van Lierop, who said will not extend his tenure with Massmart for personal reasons. Abdool-Samad joined Illovo…

Kenyan retailer Uchumi Supermarkets banks on franchising to drive growth

KENYA – Kenya based retailer, Uchumi Supermarkets, has unveiled plans of franchising more of its branches across the country in a move that aims at enabling the retailer recover its performance and grow its business. Speaking while handing over its Nairobi West branch that will see the outlet operated by a franchisee Uchumi Supermarkets chief…

South Africa’s Pick n Pay annual turnover grows 9.6%, approves expansion plans in Zimbabwe

SOUTH AFRICA - Pick n Pay, second largest retailer in South Africa has reported 9.6% growth in its annual turnover for the financial year to the end of March 2019 despite declining consumer spending which has affected retailers in the country. According to a report by Business Report, the retailer said in a recent trading…

Retail giant Pick n Pay opens 55th store in Zimbabwe in expansion drive

ZIMBABWE – International retail giant Pick n Pay has opened a new branch in Zimbabwe as it continues to pursue ambitions of growing its footprint in the country by launching more stores. Located in Victoria Falls, officials disclosed that the branch raises the tally of outlets operated by TM Pick n Pay to 55 countrywide,…

Jubilant FoodWorks ventures into Chinese cuisine with launch of first own-brand

INDIA – Jubilant FoodWorks, the operator of the fast food restaurants Domino’s Pizza and Dunkin' Donuts has entered into Chinese fast casual segment by launching its first own-brand ‘Hong’s Kitchen’. Hong’s Kitchen has opened its first restaurant in Eros mall, Gurugram, highlighting that Chinese cuisine segment is fast growing in the Indian market. An ET…

South Africa’s Shoprite eyes share buyback from chairperson Christo Wiese

SOUTH AFRICA – Shoprite Holdings, a leading South African retailer, has unveiled plans of repurchasing its shares form the group’s chairperson, Christo Wiese, as it seeks to enhance transparency among its shareholders. Shoprite said that it has entered into an exclusive in-principle discussions with its chairperson Christo Wiese to purchase his deferred shares, reports Business…

South Africa’s retailer Shoprite reports half-year sales growth to US$5.47bn

SOUTH AFRICA – South Africa’s leading retailer, Shoprite reported growth in sale of merchandise to US$5.47 billion, a 0.2% increase, during its half year period ending 30th December 2018 while trading profit fell 15% to US$201.93 million. The grocery chain reported that its Africa division, with exemption of SA, fell into a trading loss of…

Amazon appoints former Pepsi CEO Indra Nooyi to company board

USA – Ecommerce giant, Amazon has appointed Indra Nooyi, former PepsiCo Inc. Chief Executive Officer to company Board of Directors, making her the fifth woman on Amazon’s eleven-member board. She is also the second woman appointed to the panel this month after the company named Starbucks Corp’s Chief Operating Officer Rosalind Brewer as a director,…

Kenya’s retailer Ukwala mulls exiting business over unpaid debts

KENYA – Kenya retailer, Ukwala Supermarkets has applied to the court for the permanent closure of business revealing that it was unable to finance its nearly US$10 million accumulated debts, reports Business Daily. Ukwala director Vijay Jayantilal Dodhia attributed the fate facing the firm on heavy losses as a result of hard economic times and…

Hershey’s joins Science Based Targets initiative, raises environmental policies

USA – American chocolate manufacturer, The Hershey Company has announced new sustainability commitments and initiatives in resolve to protect the environment from industrial practices. The company has joined the Science Based Targets initiative, part of strategy to elevate its environmental stewardship in doing business while preserving the community and the planet we live in. This…