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RCS Acquires the Absa Funded Portion of the Edcon Store Card Debtors Book

Innovative consumer finance business RCS – a subsidiary of BNP Paribas Personal Finance, European leader in financing for individuals, itself part of the French bank BNP Paribas – has acquired the Absa funded portion of the Edcon Store Card debtors book, subject to regulatory approvals. It has also secured the …

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Clicks Group Earnings Up 17% in Another Year of Strong Growth

Clicks Group increased diluted headline earnings per share by 16.8% to 672 cents in the year to August 2019, as the retail and distribution businesses both delivered strong performances in an environment of low economic growth and challenging trading conditions. The group increased its total dividend by 17.1% to 445 …

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Famous Brands Interim Results Press Release 2019

Famous Brands is a leading food services franchisor. The Group’s vertically integrated business model comprises a portfolio of 20 restaurant brands, represented by 2 879 restaurants across South Africa (“SA”), the rest of Africa and the Middle East (“AME”), and the United Kingdom (“UK”). The Brands division is underpinned by …

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Uber Eats Celebrates Three Years in South Africa

Where technology and Convenience Merge One app in three years by three perspectives In three years, Uber Eats has completely changed food consumption in South Africa. It’s convenience made affordable, accessible and attainable. That’s why Uber Eats has become one of the most popular food delivery apps, not just locally …

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Glovo Partners with News Cafe in An Aggressive Market Expansion Push

Global on-demand courier service company Glovo, which links motorcycle riders to consumers wishing to buy and deliver products, has partnered with News Cafe in a move aimed at expanding their market footprint in the country. The firm, which uses an app to enable its deliveries has partnered with the South …

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Shoprite Creates Almost 120 Jobs in a Week with the Opening of New Stores

The Shoprite Group is whole-heartedly committed to employment in Africa, as their staff complement of 147 268 attests. The Group is proud to be the largest employer, after government, in South Africa. In only one week, almost 120 new jobs were created by the opening of three supermarkets in South …

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Pick n Pay: The Right Plan For Tougher Times

Trading profit up 15.8% to R641.5 million on a normalised basis Headline earnings per share up 11.6% on a normalised basis Diluted headline earnings per share up 13.1% on a normalised basis Turnover growth of 5.1% to R39.3 billion Internal inflation restricted to 3.6%, well below CPI food inflation of …

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PayFast Launches Split Payments Option, Designed for Platform Commerce

Online payment gateway, PayFast, has launched Split Payments, a South African-first that instantly splits a portion of an online payment with a third party. The service is designed to facilitate fast, safe payments for platform-based businesses, including online marketplaces. “PayFast has always seen itself as a business enabler. We realised …

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Consistency at the Core Delivers Another Strong Result for Pick n Pay

Positive South African performance delivers overall Group earnings growth, despite challenges in Zambia and Zimbabwe Trading profit in core South African business up 16.4%, with trading profit margin up from 2.5% to 2.8% of turnover Group turnover growth of 6.0% on a comparable basis (6.2% on a constant currency basis) …

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Nielsen Report Reveals South Africa is the Second-Most Price Sensitive Country In The World

South Africa is home to a nation of promotion obsessed shoppers. This insight stems from a Nielsen analysis on The Price of Promoting, which shows that 75% of South Africans claimed to know the prices of grocery items they regularly buy and notice changes in price, versus 69% in 2018, …

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