Shoprite’s CFO Marius Bosman to resign in July

SOUTH AFRICA - Shoprite’s Chief Financial Officer Marius Bosman will be stepping down from his position in July, after the retailer completes its financial accounts for the year ending June, reports Business Day. He will however remain as a consultant, according to the market announcement by the firm, as he has served for as long…

Zambeef opens a new outlet to enhance accessibility of meat and dairies

ZAMBIA - Zambeef Products Plc, one of Zambia’s largest producers of beef and other food products including dairy has opened a new macro store, Chalala to enable customers easily access its meat and dairy products. The new Macro outlet adds to the company’s strong retail chain network in Zambia consisting of 78 retail outlets, 19…

Garden City developers to spend US$540m for the EABL headquarter offices

KENYA - Developers of Garden City Mall are set to spend Sh54 billion (US$540 million) on a business park that will house the headquarter offices of beer maker EABL (East Africa Breweries Limited). The project, whose construction started yesterday, will be funded by UK private equity fund Actis. The commercial complex adjacent to its Garden…

Audit shows Nakumatt lost US$178 million in fraud

KENYA - Retail chain Nakumatt has suffered about US$178 million in a fraud, which the management in a report attributed to stolen goods lost through shoplifting and petty thievery from employees, according to the Standard Digital report. The claims have left auditors who conducted an audit on the struggling retailer alarmed. This has left the…

Shoprite, Checkers to issue refund to consumers of Enterprise and Rainbow recalled products

SOUTH AFRICA - The SA retailer Shoprite and Checkers have called on customers for a refund of recalled products from Enterprise and Rainbow amidst a Listeriosis outbreak scare in the country. The customers were required to return the processed cold meat products and Rainbow Chicken polony for a full refund. As reported by fin24, the…

Shoprite takes up Westgate and Garden City spaces

KENYA - South African retailer Shoprite will take up the Westgate and Garden City; as part of the two of seven prime spaces that Shoprite had secured at shopping malls in Kenya, targeting its retail market. According to real estate firm Knight Frank, the company's entry will hot up competition in Kenya’s retail sector. “Shoprite’s…

Merger with Steinhoff is not an option, says Shoprite CEO

SOUTH AFRICA - Shoprite CEO Pieter Engelbrecht has said a merger with Steinhoff would not be possible as both South African retailers shared a billionaire shareholder and chairman and each had plans for European expansion. Then Steinhoff International imploded, torpedoing its collaboration with Shoprite. Before Steinhoff uncovered accounting irregularities in early December, chairman Christo Wiese…

Shoprite turns in good performance with a total turnover growth of 6.3%

SOUTH AFRICA - Shoprite produced stellar performance in the half year to last December, with a total turnover growth of 6.3% from US$6.12 billion to US$6.51 billion. This came on the back of 3.9% growth in volume of products sold and 3.6% growth in the number of customers. Africa’s largest food retailer said in its…

Former ShopRite boss Whitey Basson back in business on Clover board

SOUTH AFRICA - Former Shoprite boss Whitey Basson has taken up an independent non-executive director role in the dairy group Clover few months after leaving his corporate roles at ShopRite late 2017. Clover has strengthened its board with two other appointments; Flemming Morgan as another independent non-executive director and Frantz Scheepers as an executive director.…