South Africa’s biggest grocery retailer Shoprite Holdings said on Tuesday it is selling its operations in Ghana and Malawi, marking another step towards consolidation of its activities across Africa to focus more on its home market.
The supermarket retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay and Walmart-owned Massmart to become the continent’s leading food retailer in about 15 countries.
But forays into markets, including Angola and Nigeria, were marred by currency volatility, double-digit inflation, high import duties and dollar-based rentals.
On Tuesday it said Shoprite Malawi signed an agreement on June 6 to dispose of five trading stores, pending certain conditions, including approval from the Competition and Fair Trading Commission as well as the Reserve Bank of Malawi.
Also Read: South African retail giant Shoprite tests cashier-less model
In Ghana, the group received a binding offer in June for seven trading stores and one warehouse. The sale is deemed highly probable, Shoprite said.
By 0753 GMT the company’s shares were down 2.60%.
The planned sales follow exits from Nigeria, Kenya, Democratic Republic of Congo, Uganda and Madagascar. Shoprite had also restricted capital allocations to its supermarkets outside South Africa.
The retailer also said it expects headline earnings per share from continuing operations to rise between 9.4% and 19.4% in the 52 weeks ended June 29, up from a restated 11.85 rand in 2024.
It expects group sales from continuing operations to rise by 8.9% to 252.7 billion rand ($14 billion).
That’s a bold prediction! Considering platform security is key, especially with rising online activity – have you checked out jljl glory app casino? They emphasize verification, which is reassuring for any serious player. Solid analysis overall!
Zaproxy dolore alias impedit expedita quisquam.
Have you ever considered about including a little bit more than just your articles? I mean, what you say is important and everything. But think of if you added some great visuals or videos to give your posts more, “pop”! Your content is excellent but with images and video clips, this site could undeniably be one of the greatest in its niche. Amazing blog!
Great write-up, I’m regular visitor of one’s web site, maintain up the nice operate, and It is going to be a regular visitor for a long time.
I truly wanted to write down a quick word to be able to thank you for all the amazing steps you are giving on this website. My time intensive internet research has at the end been recognized with useful points to exchange with my friends. I would point out that many of us readers actually are undoubtedly lucky to live in a really good place with many special individuals with beneficial methods. I feel really blessed to have used your entire website page and look forward to many more cool times reading here. Thank you once more for a lot of things.
Well I definitely liked reading it. This subject procured by you is very useful for proper planning.