Shoprite’s Edward Kieswetter resigns from board amid proposed share repurchase scheme

SOUTH AFRICA – Africa’s largest grocer Shoprite has announced the resignation of Edward Kieswetter from the firm’s board and the position of lead independent director. Kieswetter also served as the chairperson of the remuneration committee […]

Shoprite shareholders clinch new deal in restructuring strategy

SOUTH AFRICA – Shoprite Holding’s shareholders have entered into a tripartite agreement with potential investors in a move that seeks to dilute Shoprite chairperson Christo Wiese’s voting rights. The agreement with Thibault Square Financial Services […]

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 […]

South Africa’s retailer Shoprite charged for contravening competition act

SOUTH AFRICA – Shoprite Checkers, South Africa’s supermarket chain store and holding company of ticket distributor- Computicket, has been charged for allegedly contravening the competition act, reports IOL Business. Competition Commission had earlier on said […]

Shoprite opens first of its own distribution centres in Nigeria

NIGERIA – The Shoprite Group, a leading food and grocery retailer has opened a new world-class distribution centre (DC) in Lagos, Nigeria to improve its retail operations in the country. The 4,700m² facility will be […]

South Africa’s retailer Checkers partners Mr D Food for home liquor deliveries

SOUTH AFRICA – Checkers, a supermarket chain owned by Shoprite has entered an exclusive partnership with Mr D Food for delivery of alcohol to customers’ homes, reports IOL Business. By the end of the year, […]

Shoprite reports nominal turnover increase in difficult trading conditions

SOUTH AFRICA – Africa’s largest food retailer, Shoprite Group has reported a nominal turnover increase of 0.4% for the three months ended September impacted by difficult trading conditions. According to the Business Day, the retailer […]