Shoprite has been fined R1m after being convicted of reckless lending. The National Consumer Tribunal handed down judgment on Wednesday, after a probe showed that Shoprite did not conduct adequate checks to find out if its lenders could service its loans.
As customers continue to fracture their shopping trips across different retailers and channels, buying little and often, Grocery Retailers and their FMCG Suppliers need to work harder than ever to make their offer stand out. In the first of a sequence of new retail insights, Atheon Analytics answers how your business can get the best out of its most underutilized and misunderstood insights – supply chain data.
Shoprite shareholders voted in favour of the purchase of about R1.75bn of shares from former CEO Whitey Basson, enabling Africa’s largest food retailer to buy at a discount to the current share price.
Checkers has expanded its exclusive Oh My Goodness! range to include a variety of snacking options for kids, in addition to the great-tasting convenience meals.
For the second time in less than two years, retail group Steinhoff's share price has been pummelled by allegations relating to its tax and accounting practices.
China Homelife South Africa will be the most effective platform for leading Chinese companies seeking to do business in Africa. Buyers are guaranteed the best quality and a wide variety of suppliers to choose from at the show. This year the exhibition space will surpass 6,000 sqm.
The establishment of an R84m fund to educate previously disadvantaged individuals might help to secure sufficient shareholder support for Shoprite’s plan to repurchase R1.7bn worth of shares from former CEO Whitey Basson. But analysts say minorities will be reluctant to back the proposal.
