South Africa
-
Chastened Choppies retreats home to licks its wounds
Choppies has finally released its much delayed full-year results for 2019 (the 12 months to June 2019), as well as its half-year results for the six months to December 2019. These delays followed an accounting scandal that arose from related-party transactions and various misstatements, which saw it replace its auditors on two occasions and trading
31st July 2020
Categories: SagaRetail News - Retail - Supermarkets - Choppies - Botswana - Kenya - Mozambique - Tanzania - Zambia - Zimbabwe - South Africa - Namibia
-
Zambia and Zimbabwe weigh down Pick n Pay’s international performance
Sales at Pick n Pay’s Rest of Africa division rose by 2.8% in constant-currency terms, to ZAR4.7 billion (USD276 million), during its FY2020 (the 12 months to February 2020). Outside of its native South Africa, the chain operated 154 stores in six southern African countries at the end of February, having opened a net six
13th July 2020
Categories: SagaRetail News - Lesotho - Swaziland - Supermarkets - Supermarket - Botswana - Zambia - Zimbabwe - South Africa - Namibia
-
The latest KFC Index shows that Southern African currencies remain the continent’s most undervalued
The Zimbabwean dollar (ZWD) is currently the most overvalued currency in Africa, according to Sagaci Research’s KFC Index for Q2 2020, which is based on data collected during June. The index utilises the price of KFC chicken buckets in different countries to estimate US dollar (USD) exchange rates for African currencies. These “implied” rates are then
10th July 2020
Categories: Foodservice - Swaziland - Blog - Egypt - Ghana - Uncategorised - Botswana - Cote d'Ivoire - Gabon - Kenya - Morocco - Nigeria - Rwanda - Senegal - Tanzania - Tunisia - Uganda - Zambia - Zimbabwe - South Africa
-
Edcon becomes the first major African retail casualty of Covid-19
South Africa-based Edcon Holdings Ltd., the parent of apparel and homewares retailer Edgars, revealed on April 29th that it was planning to enter voluntary business rescue, a form of bankruptcy protection. Founded in 1929, Edcon is one of the largest non-food retailers in Africa, operating more than 1,000 stores, including more than 20 in sub-Saharan
8th May 2020
Categories: SagaRetail News - Africa - Retail & Shopping Malls - South Africa
-
Massmart reports buoyant international sales in Q1, but Covid-19 will hit sales of durable goods hard
South African retailer Massmart’s international sales rose by 4.5% year-on-year in constant-currency terms and 5.0% in ZAR terms during the 13 weeks to March 29th, 2020. Comparable- or same-store sales increased by 4.4% and 3.5% in constant-currency and ZAR terms, respectively, over the same period. Massmart operates 30 stores under the Game banner in 11
6th May 2020
Categories: SagaRetail News - Supermarket - Massmart - Retail & Shopping Malls - Ghana - Nigeria - South Africa
-
Jumia re-orients consumer proposition as it seeks path to profitability
Having exited the Cameroonian, Tanzanian, and Rwandan markets over recent months and reoriented its marketing efforts towards lower-value items, internet retailer Jumia saw its gross merchandise value (GMV) decline at an annual rate of 3% during Q4 2019, from €311 million in Q4 2018 to €301 million. However, for 2019 as a whole, GMV rose
11th March 2020
Categories: SagaRetail News - Egypt - Ghana - Cote d'Ivoire - Kenya - Morocco - Nigeria - Senegal - South Africa
-
Sagaci Research relaunches the KFC Index
En francais ci-dessous Kwa lugha ya Kiswahili hapa chini KFC Index identifies Central African CFA Franc as the most overvalued currency in Africa Sagaci Research, the leading independent pan-African market research and market intelligence firm, has released its “KFC Index” for January 2020. This twice yearly index utilises the prices of KFC chicken buckets in
31st January 2020
Categories: SagaRetail News - Lesotho - Egypt - Ghana - Angola - Cote d'Ivoire - Gabon - Kenya - Morocco - Mozambique - Nigeria - Senegal - Sudan - Tanzania - Tunisia - Uganda - Zambia - Zimbabwe - South Africa - Ivory Coast
-
Fighting for survival, Choppies prepares to exit South Africa
Botswana-based Choppies, which at its peak operated more than 240 supermarkets in eight countries across Southern and Eastern Africa, has agreed the sale of its South African operations to Kind Investments Proprietary Limited for ZAR1 (USD0.07), including the assumption of all of the subsidiary’s debts. The deal is expected to close by February 2020. As
5th December 2019
Categories: SagaRetail News - Retail - Supermarkets - Africa - Botswana - Kenya - Tanzania - Zambia - Zimbabwe - South Africa
-
Still burning cash, Jumia positions itself as an online bridge to Africa
Africa-focused internet retailer Jumia saw its revenue rise at an annual rate of 19.4% during Q3 2019, to €40.1 million, while its operating loss widened by 34.6%, to €54.6 million. Gross merchandise volume (the total value of orders, including those of third parties using its platform, before the deduction of any discounts or vouchers and
14th November 2019
Categories: SagaRetail News - Retail - Africa - Egypt - Retail & Shopping Malls - Ghana - Algeria - Cameroon - Cote d'Ivoire - Kenya - Nigeria - Senegal - Tunisia - South Africa - Ivory Coast
-
Blog: African retail has a governance problem
Corporate governance remains the Achilles heel of many African retail chains, threatening their long-term growth prospects While corporate governance failings are obviously not confined to Africa, recent years have seen a plethora of scandals and mis-steps that have destabilised some of the retail industry’s most prominent names and threatened to undermine the brand equity
23rd September 2019
Categories: Blog - Retail - Supermarkets - Africa - Nakumatt - Shoprite - Naivas - Tuskys - Sagaci Insights - Kenya - South Africa