South Africa news

19 December 2016
After a period of speculation South Africa-based Shoprite and Steinhoff International have announced that discussions are under way that could lead to the merger of the two businesses’ Africa-based retailer operations. Merger would create new company called Retail Africa If the merger is completed Shoprite will issue shares to Steinhoff in exchange for the latter’s assets in Africa. The comb...
17 November 2016
We review Walmart’s third quarter results and how it's progressing against its strategic plan. Our take: ecommerce accelerating as Walmart takes a different approach to growth If I was to highlight one key takeaway from the results, it would be the acceleration in ecommerce growth to 20.6%, from 11.8% in Q2 and 7.0% in Q1. An element of this was expected as the retailer did benefit partiall...
17 November 2016
As Botswana-based Choppies sets out expansion plans for its newest market, Kenya, South Africa-based Checkers launches a new private label range and Nigeria-based Jumia smooths payment options for shoppers, we round up news from the region. Choppies to open stores in Nairobi in December Choppies’ chief executive, Ramachandran Ottapathu, in an interview with local newspaper The Star, has sai...
17 November 2016
As SPAR South Africa releases preliminary annual results, Woolworths announces a trading update and Pick n Pay sets out investment plans, we round up news from the country. SPAR (SA) boosted by Irish operations SPAR South Africa announced annual results saying revenues rose 24.5% to ZAR92.2 bn (US$6.5 bn), while operating profit increased by 12.3% to ZAR2.58 bn (US$181.0m). By geographical se...
09 November 2016
As South Africa-based, Walmart-owned Massmart reports sales performance for a 44 week period, which showed comparable stores’ sales growth lagged behind inflation, OK Zimbabwe announced H1 results and Nakumatt confirms it will sell a 51% stake in its Tanzania-based business, we round up news from the region. Massmart shows slowing rate of sales growth As part of an analysts day in Johannesb...
07 November 2016
As South Africa-based Shoprite reveals a positive operational update, local rival Pick n Pay discusses plans to extend spaza support to more entrepreneurs and Kenya-based Naivas reveals its short term investment plans, we round up news from the region. Shoprite provides positive operational update Following on from the news that chief executive Whitey Basson is to retire Shoprite has re...
07 November 2016
Walmart has outlined a new roadmap for its sustainability and community agenda, including new commitments around sourcing and packaging. Aiming to become the most trusted retailer Speaking at the Net Impact Conference earlier this month, Walmart’s President and CEO, Doug McMillon, detailed several initiatives which are designed to help Walmart’s desire to become the most trusted retailer, a...
31 October 2016
As Portugal-based Sonae invests in Mozambique, Botswana-based Choppies sets out how it is performing and Sefalana sets out how it is investing in the short term, we round up news from the region. Sonae grows in Mozambique Sonae has acquired two stores in Mozambique through the investment company S2 Africa, in which it has a 30% stake. The purchase marks the company’s entrance into the count...
31 October 2016
Whitey Basson, South Africa-based Shoprite’s chief executive, has announced his retirement. Basson has been with Shoprite for nearly 45 years, overseeing the expansion of the business from an eight store chain to one operating nearly 2,000 stores in 15 countries. Basson drove Shoprite’s expansion As part of its statement announcing Basson’s retirement, Shoprite’s chairman, Christo Wiese, s...
18 October 2016
South Africa-based Pick n Pay has announced results for the 26 weeks to 28 August, noting the challenging operating environment both in its home market, but also elsewhere, such as in Zambia. Despite this, the retailer said turnover rose 7.2% to ZAR37.4 bn (US$2.6 bn), with like-for-like turnover growth of 3.5%. Positive results given trading backdrop Pick n Pay highlighted the economic con...