News
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Covid-19 hits Massmart’s SSA sales, with Nigeria particularly weak
Total sales at Massmart’s Rest of Africa division declined at an annual rate of 0.1% in ZAR terms and 3.8% in constant currency terms during the first six months of 2020. On a comparable store basis, rest of Africa sales fell by 1.5% in ZAR terms and by 5.1% in constant currency. South Africa-based Massmart,
3rd September 2020
Categories: Uncategorised
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Despite Covid-19 disruption, Jumia continues to narrow its losses
In the three months to June 2020, operating losses at Africa-focused internet retailer Jumia declined at an annual rate of 43.6%, to €37.6 million. It operates across 11 African markets, with a particular focus on North Africa (Algeria, Egypt, Morocco, and Tunisia) and West Africa (Côte d’Ivoire, Ghana, Nigeria, and Senegal), in addition to Kenya,
2nd September 2020
Categories: SagaRetail News - Retail - Internet retail - Jumia
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Ghana becomes SPAR’s tenth African market
Netherlands-based SPAR International has partnered with EcoDi (Economic Distribution Company Ghana) in a deal that will see all of the latter’s 17 outlets (most of which are located in the vicinity of Accra) convert to the SPAR banner by the end of this year. This deal makes Ghana SPAR’s tenth African market and its second
1st September 2020
Categories: SagaRetail News - Supermarkets - Africa - Spar - Ghana - Cote d'Ivoire
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“The Lord will not allow Tuskys to die!”
While its chief rivals Naivas and Quickmart both opened new outlets during July, Tuskys, Kenya’s second largest grocery retailer, has struggled to pay suppliers and landlords and keep its shelves stocked. The Standard newspaper reports that the chain’s sales fell by 35% during April and May. During mid-July, it was revealed that New Kenya Cooperative
3rd August 2020
Categories: SagaRetail News - Retail - Supermarkets - Tuskys - Kenya - Uganda
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Covid-19 is the final straw for Shoprite in Nigeria
South African retail giant Shoprite has revealed plans to exit the Nigerian market. It opened its first Nigerian outlet as long ago as 2005 and currently operates 25 stores there. It also owns many of the malls in which these stores are located (under the Novare brand) as part of a joint venture. According to
3rd August 2020
Categories: SagaRetail News - Retail - Supermarkets - Shoprite - Nigeria
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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
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Senegalese service station chain makes the leap to stand-alone grocery retail
The modern retail sector in Senegal has become increasingly competitive over recent years, with traditional traders and some politicians calling for measures to protect local businesses (all links in French) from the expanding store networks of Auchan and, to a lesser extent, Carrefour. However, a domestic supermarket chain may be emerging to challenge the dominance of
27th July 2020
Categories: Uncategorised
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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
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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
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Nigerian Covid-19 restrictions leave SPAR struggling to keep its shelves stocked
During May, Haresh Keswani, CEO of Artee Group, which franchises the SPAR banner in Nigeria, told the Wall Street Journal that he had been forced to temporarily close five of its hypermarkets due to supply-chain issues: “Suppliers either don’t have the goods – they are not manufacturing or they don’t know how to get the
8th July 2020
Categories: SagaRetail News - Supermarkets - Spar - retail - Nigeria