The long reign of Whitey Basson – the CEO of Shoprite Holdings – as the king of South African retail is almost over.
This week Wesgro is hosting a senior delegation from the Angolan Economic Ministry’s task team to revive the Lusophone nation’s economy. Wesgro is arranging meetings for the delegation with key Cape companies invested in Angola such as Shoprite, Oceana and Fruit & Veg City. They are also meeting with potential new investors whose entrance to the market will be facilitated by Wesgro.
CAPE TOWN headquartered retail conglomerates appeared to enjoy brisk Christmas trading with recent sales updates mostly confirming double digit growth. The trading statements – to an extent – allay fears that discretionary spending would dry up as consumers faced up to the prospect of lower salary increases and the prospect of higher interest rates as well as higher prices following the calamitous collapse in the rand against major international currencies. But the outlook for 2016 remains cautious, and local retailers are going to have to work extra hard to maintain margins and keep top line ticking over.
Despite the increasingly tough conditions for already hard pressed consumers, Cape-based retailers appear to have come through the first half of 2015 in fairly good fettle. This is according to the various trading updates released recently as well as recent annual reports.
Western Cape-based retail sector stalwarts appear to have traded cheerily through the festive season – despite initial worries that the hard-pressed consumer would shop less enthusiastically over the Christmas period.
Western Cape-based retail sector stalwarts appear to have traded cheerily during the festive season – despite initial worries that the hard-pressed consumer would shop less enthusiastically over the Christmas period.
Retail tycoon Christo Wiese – the major shareholder in Shoprite and Pepkor – has re-established links with Martin Wragge, best known for being the prime mover behind the Century City and Canal Walk developments.
CAPE TOWN-based supermarket giant Pick n Pay – now with new CEO Richard Brasher at the helm - has emerged a stronger business than six months ago. But even though directors are encouraged
PROPERTY owner and developer, Ingenuity, which concentrates exclusively on the Western Cape real estate segment, has snatched another two key property sites. Last month, Ingenuity announced it