NIGERIA - The South African food and grocery retailer has opened its twenty-fifth store in the newly opened shopping mall, Novare Central, Wuse, Abuja saying the new outlet will offer more choices to customers in the region, reported the Vanguard. Shoprite said it continues to give customers lower prices on grocery items as it strives…
SOUTH AFRICA - Shoprite, one of the largest food retailers in Africa has posted 3.3% increase in sales to US$10.89m for the year ended June despite increasing inflation and a 50% currency devaluation which hit hard its business operations in Angola. Business Day has reported that results of hyperinflation were translated to lower revenues in…
SOUTH AFRICA - South Africa’s tycoon Christo Wiese has sold part of his stake in one of Africa’s biggest supermarket chain, Shoprite to raise US$264 million, boosting his finances after being dented by links to scandal-hit Steinhoff, according to a Reuters article. He raised the funding through his company, Titan which sold 17 million shares,…
SOUTH AFRICA - Shoprite South Africa, one of the largest retailers in Africa aims to empower 12,000 youth in the retail sector under its ‘Retail Readiness programme’ initiative. The programme targets to empower youth between the ages of 18 to 29 years old in Gauteng and the Western Cape through eight-week training, according to Business…
USA - The retailers’ cooperative of supermarkets, ShopRite has expanded its range of store brands with the launch of private-brand meal kits, a new line of gourmet and specialty food, creating an internationally inspired food brand. According to FoodDive, the new line by the ShopRite Trading Company includes ethnic-inspired private brand meal kits under the…
SOUTH AFRICA - Choppies, the Botswana based and JSE listed multinational grocery has reported 22% growth in both sales and net profit and its share price rose 8.3% to US$0.21 for half year results. The trading statement was expected to be announced earlier in March 21 but delayed due to verification and valuation procedure which…
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…
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…
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…
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…
