Shoprite’s Computicket faces a possible US$9.75bn fine for alleged breach of competition laws

SOUTH AFRICA – Shoprite holdings and its subsidiary Computicket, involved in providing outsourced ticket distribution services to inventory providers in the entertainment industry and sports events are facing joint charges by the Competition commission. The […]

Shoprite’s long-serving Chairman Christo Wiese to retire next year

SOUTH AFRICA – South Africa’s largest retailer, Shoprite has announced that its long-time serving chairperson, Christo Wiese will retire at next year’s AGM putting an end date on a tenure that has spanned almost three […]

Shoprite Holdings’ independent director resigns after company’s founder gets re-elected

SOUTH AFRICA – Shoprite Holdings Ltd.’s lead independent director, Shirley Zinn, resigned abruptly making Africa’s biggest supermarket chain now down to five non-executive directors. This comes two days after Christo Wiese’s almost 30-year stint as […]

Shoprite mulls exiting foreign markets as quarterly revenue plunge 4.9%

SOUTH AFRICA – Shoprite Holdings, Africa’s largest food retailer has reported a 4.9% fall in third-quarter revenue from its non-South African business attributing it to xenophobic violence. The Cape Town-based company started a review of […]

South African retailer Shoprite opens new branch in coastal Kenya

KENYA – Shoprite Holdings, Africa’s largest supermarket retailer headquartered in South Africa, has opened its third branch in Nyali, Coastal Kenya as it continues to consolidate its presence in the East African country. Located in […]

South African retailer Shoprite secured US$5.49m for expansion in Kenya

KENYA – Shoprite Holdings, Africa’s biggest retailer headquartered in South Africa, secured US$5.49 million (about Sh566 million in current terms) in funding to expand its footprint in Kenya. The facility, which the retailer acquired from […]

Shoprite reports 18.2% decline in full year profits despite growth in sales

SOUTH AFRICA – Africa’s largest retail chain, Shoprite reported 18.2 percent decline in  full year net profit to US$ 273.12 million (R4.2bn) as the South African retailer struggled to lift sales in majority of the […]

Pick n Pay to engage competition regulator over report on market dominance

SOUTH AFRICA – South African retail chain, Pick n Pay, has said that it will continue to engage South African competition regulators to address its concerns about the retailer’s market dominance in shopping malls. This […]

Shoprite set to open third retail branch in Kenya in expansion strategy

KENYA – South African retailer, Shoprite, has unveiled that it will be opening its third branch at City Mall store in Mombasa, Coast of Kenya in August this year. The retailer says the new outlet […]