South Africa
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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
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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
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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
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As new CEO takes the helm, Massmart’s sees modest growth in international sales
During the first six months of 2019, total sales at South Africa-based Massmart’s international stores rose by 6.4% (in constant currency terms), compared with the year-earlier period, to ZAR3.9 billion (USD264 million). Same-store sales rose by 2.4%. Total international sales increased by 11.8% in ZAR terms. International stores accounted for 8.9% of Massmart’s total sales
16th September 2019
Categories: SagaRetail News - Retail & Shopping Malls - South Africa
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South African retailers caught up in xenophobic backlash
A number of Shoprite and Pick n’ Pay outlets were among the South African businesses targeted by looters in Nigeria and Zambia during early September. Mobile communications provider MTN and clothing chain Pepkor were also affected. These attacks were triggered by xenophobic attacks on foreigners and foreign-owned businesses in Johannesburg that resulted at in least
12th September 2019
Categories: SagaRetail News - Retail & Shopping Malls - Nigeria - Zambia - South Africa
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Choppies on the chopping block
Troubled Botswanan retailer Choppies has indicated that it intends to dispose of its supermarkets in Kenya, Tanzania, and South Africa. Choppies currently operates more than 200 outlets in eight countries in Southern and Eastern Africa, with Botswana and South Africa accounting for the bulk of these – 85 and 88 outlets, respectively, according to the
10th September 2019
Categories: SagaRetail News - Consumer - Botswana - Kenya - Tanzania - South Africa
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Walmart veteran to take the helm at Massmart
Less than a month after the resignation of Guy Hayward as Massmart CEO was announced, his replacement has been revealed. Walmart (which holds a majority stake in the South African retailer) is to parachute in one of its own – Mitchell Slape. 51-year-old Slape has worked at Walmart for 25 years in various roles across
28th May 2019
Categories: SagaRetail News - Retail & Shopping Malls - South Africa
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Pick n Pay reports profit decline in sub-Saharan markets
Pick n Pay’s annual report for the 12 months to March 2019 shows that the margins of its stores in sub-Saharan Africa have narrowed. The South African grocery retailer has outlets in six southern African countries: Botswana, Lesotho, Namibia, Swaziland, Zambia, and Zimbabwe. In spite of what it described as “economic challenges” (particularly in Zambia
2nd May 2019
Categories: SagaRetail News - Lesotho - Swaziland - Retail & Shopping Malls - Botswana - Zambia - Zimbabwe - South Africa - Namibia
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MAF sees Kenyan Carrefour sales soar and eyes new markets
UAE-based Carrefour franchisee Majid Al Futtaim (MAF) saw its Kenyan sales rise by 71% during 2018, to AED506 million (USD137.8 million). MAF currently operates seven stores (six hypermarkets and one supermarket) in Nairobi. Nairobi’s eighth Carrefour store (another hypermarket) is due to open later this year in the premises formerly occupied by Nakumatt along the
9th April 2019
Categories: Egypt - Retail & Shopping Malls - Kenya - Uganda - South Africa
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Jumia IPO gives a peek under the hood of African e-commerce
As had been widely anticipated (see our previous story), Jumia is to list on the New York Stock Exchange. Founded in 2012 by Berlin-based Rocket Internet (which currently holds a 20.6% stake), Jumia is part-owned by telecommunications companies MTN (29.7%) and Millicom International Cellular (9.6%), insurance company AXA (5.8%), and alcoholic drinks giant Pernod Ricard
14th March 2019
Categories: SagaRetail News - Consumer - Egypt - Retail & Shopping Malls - Ghana - Algeria - Cameroon - Cote d'Ivoire - Kenya - Morocco - Nigeria - Rwanda - Senegal - Tanzania - Tunisia - Uganda - South Africa - Ivory Coast