Wednesday , March 20 2019

Shoprite Group Builds Up Strength in Tough Year

2018 was a transformational year for the Group, whose interim results were affected by a number of factors. While the first half performance is below expectations it is not a reflection of the fundamental strength of the business. The decline in headline earnings per share for the six months ending …

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Verigreen has been Awarded a Multi-million Rand Contract to Supply Products under Shoprite Group’s Ritebrand and Housebrand Labels

Plastic manufacturing and recycling company, Verigreen, has been awarded a multi-million rand contract to supply 25 different products under the Shoprite Group’s Ritebrand and Housebrand labels. Owned by husband and wife team Mike and Thina Maziya and established in 2001, Verigreen has been manufacturing a range of drawstring refuse bags …

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Woolworths, Sustainability Institute and Spier Launch Community Learning Farm

Woolworths has joined hands with its supplier, Spier wine farm; the Sustainability Institute and its AgroEcology Academy to launch the Living Soils Community Learning Farm, in the Lynedoch valley of the Stellenbosch Winelands. The partners have agreed to a three-year pilot project that aims to establish a learning farm that …

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Zambeef Products has been Recognised by the LuSE for its Excellence in Corporate Governance

Zambeef Products has been recognised by the Lusaka Securities Exchange (LuSE) for its excellence in corporate governance. The company walked away with four awards at the recent LuSE Corporate Governance Awards, scooping first prize for the Corporate Governance Award and the Best Annual Report Award, and being named as first …

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Edcon Concludes Recapitalisation Deal

Following various announcements made by Edcon over recent months in relation to the recapitalisation of the business, the Group has advanced the process sufficiently to provide a further update to all stakeholders. The Board of Edcon is pleased to announce that binding agreements have been concluded amongst, Edcon Limited’s existing …

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Massmart Reports 2.9% Total Sales Growth in Tough Economic Environment

Massmart has reported annual results for the 52 weeks ended 30 December 2018 against the back-drop of a difficult economic environment, characterised by low GDP and wage growth, and constrained consumer confidence. Notwithstandingthe difficult environment Massmart maintained strong market share across durable goods categories including; small and large domestic appliances, …

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Spur and The Hussar Grill Perform Well in Slowing Economy

Spur Corporation reported a competitive performance for the six months to December 2018 as increasing demands on disposable income and declining confidence impacted the group’s middle-income customer base. Total franchised restaurant sales across the local and international operations increased by 4.8% to R3.9 billion. Comparable profit before tax, excluding exceptional …

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Shoprite Lesotho Cross-Border Remittance Product Achieves R1 Billion Mark

The Shoprite cross-border money remittance product reached the R1 billion mark in January, after just three years of it being implemented between SA and Lesotho. The cost of a transfer of R900 is 2%, which is one of the cheapest cross-border products in the world. A remittance is when a …

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South African Consumer Confidence Holds On

South Africa’s latest Consumer Confidence Index (CCI) for the fourth quarter of 2018 shows a two point decrease to 88, presenting a relatively stable, though still slightly negative, quarter on quarter picture for consumer sentiment in South Africa. This is supported by a decrease in the number of South Africans …

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Network International’s Multi-Million Dollar Online Payment Gateway to Support MEA’s Growing E-commerce Sector

Network International, a leading payment solutions provider in the Middle East and Africa (MEA), aims to boost e-commerce acceptance in the region with the launch of a new, multi-million dollar online payment gateway. The gateway is part of Network International’s N-Genius payment platform and has commenced rollout to UAE-based ecommerce …

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