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Shoprite Eases Africa Push to Focus on Domestic Market Gains

Shoprite Eases Africa Push to Focus on Domestic Market Gains
Bloomberg
3/16/2021
Janice Kew
© Bloomberg
A customer s shopping bags sit on the payment counter inside a Shoprite Holdings Ltd. store in Cape Town, South Africa, on Wednesday, Dec. 21, 2016. South Africa was a bright spot for banks on the continent in 2016, with stocks shrugging off the nation s economic woes to head for the third-best performance in the past decade.
(Bloomberg) Shoprite Holdings Ltd. switched its focus firmly toward taking market share in its home market of South Africa, after opting to withdraw from Nigeria and Kenya and move more cautiously in Angola. ....

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Shoprite to focus on domestic market after withdrawing from rest of Africa

Shoprite to focus on domestic market after withdrawing from rest of Africa
By Janice Kew
(Bloomberg) – Shoprite Holdings Ltd. switched its focus firmly toward taking market share in its home market of South Africa, after opting to withdraw from Nigeria and Kenya and move more cautiously in Angola.
The more guarded approach comes after the continent’s biggest supermarket chain struggled with supply disruptions and getting money out of some countries. The company is seeking to take advantage of its increased dominance of the South African grocery industry in a year blighted by coronavirus lockdowns.
“The business remained vigilant, combating the challenges faced across Africa, however, currency devaluations again eroded much of our efforts,” Chief Executive Officer Pieter Engelbrecht said Tuesday in a statement. “From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can.” ....

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Shoprite Eases African Push to Focus on Domestic Market Gains

Shoprite Eases African Push to Focus on Domestic Market Gains
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

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Follow Up Market Note – 20210219 Follow Up Market Note_Changes to ICB SA Sector Indices Updated - SENS

Follow Up Market Note – 20210219 Follow Up Market Note_Changes to ICB SA Sector Indices Updated - SENS
moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.

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Sector movers: Concerns around Covid vaccine rollouts drag on sentiment

Sector movers: Concerns around Covid vaccine rollouts drag on sentiment
ifamagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ifamagazine.com Daily Mail and Mail on Sunday newspapers.

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