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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 and member of the nominations committee. His resignation follows his appointment as the commissioner of the SA Revenue Services (Sars)…
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 and Titan Premier Investments will result in Wiese having 17.8% voting rights of Shoprite, down from 42.3%. In February this…
KENYA – South African based retail giant, Shoprite Holdings, has opened a second store in Kenya as it continues to expand its footprint in the country. The new Shoprite store is located at the Garden City Mall in the country’s capital features an in-store fresh food departments including a Meat Market, Hot & Cold Foods…
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 – 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$201.93 million. The grocery chain reported that its Africa division, with exemption of SA, fell into a trading loss of…
SOUTH AFRICA – Shoprite, a leading food retailer in South Africa, has said that it will appeal against the US$ 1.44 million (R20m) fine handed to its ticket-selling subsidiary, Computicket, by the Competition Tribunal, reports Reuters. The Competition Tribunal, Competition Commission had earlier on said that it had referred a case against ticket distributors Computicket…
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 that it had referred a case against ticket distributors Computicket Ltd and Shoprite Checkers Ltd to the Competition Tribunal for…
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 occupied by Freshmark, Shoprite’s fruit and vegetable procurement, buying and distribution arm while an additional 1180 m² will be used…
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, customers will be able to order their beer or wine at in-store prices from Mr D Food app which will…
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 was weighed down by currency devaluations, low food inflation and strikes, all heightening the stumbling block towards rolling out of…