The Business Rescue Plan has been approved and has been finally adopted in terms of section 152 of the Companies Act. Edcon Practitioners, Messrs. Piers Marsden and Lance Schapiro are pleased to announce the approval of the Edcon Business Rescue Plan. The plan was approved by the majority of affected parties including, employees, creditors, lenders,
Spur Corporation welcomed President Cyril Ramaphosa’s announcement on 17 June 2020 to open trading for sit-down restaurants. The restaurant industry has been hit hard by the national lockdown and the return to business will enable thousands of people to earn a living and support their families. “We’re pleased with the announcement as the coronavirus pandemic
Emerging domestic natural gas and helium producer Renergen is pleased to announce that Total South Africa Proprietary Limited (“Total”) and the Company signed an agreement for the joint marketing and distribution of liquefied natural gas (“LNG”) through Total’s service stations. Renergen is in the construction phase of South Africa’s first commercial LNG plant, and is
Service workers can receive cashless tips directly to their card account, thanks to a new feature of the Way4 Tip Payments solution by OpenWay. Acquirers on OpenWay’s Way4 platform can introduce Way4 Tips Payments to restaurants, delivery services, taxis, hotels, and beauty salons – any service sector merchants whose customers often leave tips. According to
Apollo Brands Pty LTD (the official distributor of Under Armour in South Africa) launched their Ecommerce platform in South Africa on Monday the 8th June 2020. Amidst an ever-evolving retail landscape, the business pulled out all the stops to take the development head-on despite a global pandemic and stringent national shutdown laws. Timing could not
The appointed Business Rescue Practitioners (BRP’s), Messrs. Piers Marsden and Lance Schapiro, published the Edcon Business Rescue Plan (“the Plan”) on the 8th of June 2020, after meetings and consultation with the Creditors, Landlord and Employees Committees, and communication with SACCAWU. The Plan has been prepared on an “accelerated sales process” basis, as interest to
By Jaco van Jaarsveldt, Client Decision Analytics Officer at Experian South Africa South Africa moved to level three lockdown allowing more businesses to operate, essentially opening up the economy. However, the COVID-19 crisis and lockdown in South Africa has had a significant impact on most industries directly or indirectly. Further compounding this issue is the
The V&A Waterfront is partnering with one of South Africa’s leading Click and Collect service providers, to offer an alternative for shoppers who want to avoid possible exposure to COVID-19 by queuing in shops, but who still want to collect their own goods. The new Click and Collect Drive Through service will allow customers to
Consumers can now pay for services from thousands of small businesses, schools, and non-profit organisations by scanning a QR code with their mobile phone Leading payment solutions provider Netcash has collaborated with Mastercard to launch Quick Response (QR) code payments across its multi-channel billing platform, as part of its efforts to help Small and
By Gareth Hawkey, Group CEO of redPanda Software South Africa’s small but aspirational e-commerce sector has been ushered into sharp focus as a result of the entirely unexpected shock of Covid-19 and the resulting national lockdown. As consumers have turned to online offerings to avoid the need to travel and come into contact with others,
Fair Cape Dairies has launched a limited edition of yellow-lidded EcoFresh milk bottles to commemorate the 254 155 kWh of renewable energy produced and used since October 2018. Since the Fair Cape Solar Switchover took place on 24 October 2018, all milking during daylight hours has been powered purely by solar energy, saving carbon emissions
The food manufacturing sector continues to fight valiantly in the face of mounting economic pressure compounded by the ongoing uncertainty and immense cost implications that increased COVID-19 infection rates might have on productivity. Now is the time for these businesses to radically rethink one of their biggest operational costs – energy consumption. This is according
Retail employees, who prior to the health pandemic were assets to the business, have become invaluable as they continued to serve customers throughout lockdown while most people stayed home. To thank them for their service and heroism, FreshStop, the largest and fastest-growing convenience store retail brand in South Africa, launched a #ThankYoufromFreshStop digital campaign to
SALIENT FEATURES Headline earnings per share for continuing and discontinued operations of 0.3c (2019: 115.7c) R2bn gross proceeds from asset disposals R677m cash generated up 277% Strong cash transfers of R1.6bn from Angola and Nigeria CONTINUING OPERATIONS: Revenue down 17% to R6.5 billion Trading profit down 39% to R633 million R3bn impairments in Nigeria and
British American Tobacco South Africa (BATSA) is (May 29, 2020) commencing urgent legal proceedings to challenge the government’s decision to extend the ban on tobacco sales during Level 3 of the COVID-19 Risk Adjusted Strategy. BATSA is supported in this action by Japan Tobacco International (JTI) as well as groups and organisations representing the tobacco
Over 11 million South Africans do not have a bank account and, in lockdown, receiving wages is logistically challenging. Many businesses have been negatively impacted by the COVID-19 pandemic and employees have been laid off. People are running out of cash and hunger is now a more immediate threat than the virus. The payment needs
The Consumer Goods Council of South Africa (CGCSA) has on behalf of its members involved in the E-Commerce business welcomed the decision by the Minister of Trade, Industry and Competition, Mr. Ebrahim Patel to allow the resumption of the sale of the full range of products through E-Commerce platforms. CGCSA has been lobbying the Government,
RFG’s fruit canning factory in Tulbagh has reopened after being closed for four days for deep cleaning and decontamination following nine employees testing positive for Covid-19 over the past three weeks. On Friday 8 May the Department of Employment and Labour (DOL) ordered the company to close the factory and contract a third-party service provider
The Commission has referred to the Competition Tribunal an agreement with Shoprite Checkers to be confirmed as an order in which the retailer agreed to no longer enforce the exclusivity clauses contained in various lease agreements against SMEs and specialist line stores with immediate effect. Furthermore, Shoprite Checkers has undertaken to immediately cease exclusivity against
In terms of paragraph 3.4(b) of the JSE Limited (“JSE”) Listings Requirements, the Board of Directors (Board) is satisfied that a reasonable degree of certainty exists that the Group’s financial results for the year ended 29 February 2020 (“review period”) will differ by at least 20% from those reported for the year ended 28 February
A new partnership between Game Stores and Uber Eats will allow customers to order Game products online, and have them delivered to their doorstep. The partnership enables the retailer to provide food and other much-needed essential products to its customers more effectively during the COVID-19 pandemic, with the country currently on a Level-4 lockdown. The
RFG increased group turnover by 9.6% to R2.9 billion in the six months to end March 2020 as the regional business across South Africa and sub-Saharan Africa grew sales by 11.5%. The Western-Cape based food producer said sales for the month of March were 22% higher as households stocked up on essential foods following the
In what is expected to be South Africa’s biggest year for the adoption of ecommerce, The Ecommerce Forum South Africa (EFSA) Board has announced a new Chairperson, Karen Nadasen, Country Manager of PayU, the world’s leader in emerging market payments. Since Minister Patel’s lift on the ban of unfettered ecommerce last week, online shopping has
Online payment gateway PayFast has seen a 226% year-on-year increase in new business account registrations in the food industry since COVID-19 led restrictions were put in place in mid-March. In order to continue trading during the lockdown, many businesses have pivoted their product offering to provide essential goods, resulting in a significant spike in this
Dis-Chem Pharmacies has announced that it has entered into an agreement where it will acquire 100% of the issued share capital in and shareholder claims of specialist destination baby retailer Baby City. Dis-Chem will pay a purchase consideration of R430 million upon closure. Baby City was founded in 1992 in Durban and operates a network
The service will give foreign national workers living in South Africa the ability to provide for their families back home with basic staples. Mukuru, one of Africa’s leading remittance providers, has launched Mukuru Groceries – a service that will give South African based customers the ability to send groceries to their families and communities back
In a Mastercard global consumer study, 75 percent of South African consumers say they use contactless payments 88 percent of South African respondents view contactless as a cleaner way to pay, with 71 percent preferring to shop at merchants where contactless is accepted In South Africa, the number of contactless transactions grew 13X in March
Jumia, the leading e-commerce platform in Africa has announced the launch of its portal in South Africa to help consumers access essential products at the lowest price (www.jumia.co.za). The launch of the Jumia portal will provide a steady supply of hygiene & sanitary products such as diapers, soap bars, disinfectants, and liquid hand wash at
Platform uses AI, drones and software to help farmers manage crop health and predict crop yields Aerobotics helps sustain South Africa’s food security Naspers announced a R100 million investment in agritech business Aerobotics, through its early-stage business funding initiative Naspers Foundry. Aerobotics is a subscription-based artificial intelligence (AI) company that provides intelligent tools for the
It’s clear that the Coronavirus has changed the landscape for FMCGs – in some ways permanently. However, despite its similarities, the impact has not been the same across its subsectors and through the supply chain. Itumeleng Merafe, Head of Interest Rate Structuring, Investec Corporate & Institutional Banking says; “The lockdown has hit the economy hard
In a crisis, the urgency of need must trump market barriers. Now more than ever business must come together and act to save the vulnerable among us, writes Mary-Jane Morifi, Tiger Brands’ Chief Corporate Affairs and Sustainability Officer. Covid-19 has split our already divided economy down two lines: either you’re essential or you’re not. So
Pick n Pay has published its annual results for the year ended 1 March 2020. The Group delivered turnover growth of 4.7% in a tough trading environment. The Group’s South African operations delivered turnover growth of 5.1% against a strong prior year base, reflecting operational challenges in the second half of the year including the
SPAR South Africa is turning the egg challenge – a global social media craze – on its head. While the original challenge requires participants to drink an egg with a scoop of sugar and then chase it down with alcohol or another beverage, the SPAR version encourages shoppers to donate daily essentials to those in
Leading food producer scales up COVID-19 support, delivers six hygiene stations to Chisamba, Chibombo and Lusaka Councils Zambeef Products has donated hygiene stations, bulk hand sanitiser, thermometers and masks to Chisamba, Chibombo and Lusaka councils, reaffirming its commitment the fight against COVID-19 and ensuring its operations align with government’s mitigation measures. The Chibombo and Chisamba
Clover confirms that five employees have tested positive for COVID-19 at its Bloemfontein factory. This includes four cases in the past week and an initial positive case three weeks ago which was unrelated. Clover’s teams have continuously been interacting with the Department of Health (“DOH”) and initiated a process in line with its internal procedures
While its customers have been filling their trollies, the Pick ‘n Pay IT finance team has been filling out spreadsheets. Today, they’re using a Microsoft Azure-based solution called OneView to automate the process. As South Africa’s largest supermarket group, Pick ‘n Pay needs to manage a multitude of supplier relationships to keep both its technology
Following an escalation in the number of Covid-19 cases in the Witzenberg municipal district and the ninth positive case at its site, RFG has dramatically scaled down production at its fruit products factory in Tulbagh. The company has further confirmed the death of two employees although these have not been linked to Covid-19. At this
Each one of our restaurants is independently owned and operated under franchise. It is important to note that as our restaurants are largely sit down and the overhead structures associated with this business model are significant (measurably more than a quick service restaurant). Opening the doors for trade is not an inexpensive exercise and therefore
Heeding President Cyril Ramaphosa’s call for greater private sector support in the fight against Covid-19, the Massmart Board and Executive Committee will personally fund, through a waiver of a portion of their monthly remuneration, 230 tons of food for distribution to vulnerable communities. This personal contribution will be made to FoodForward South Africa via deliveries
The Edcon group have announced, that the Board of Edcon has passed a resolution authorizing it to file for business rescue in the course of the next few days. Following the coronavirus outbreak in South Africa, and the President’s first announcement on Sunday, 15th March Edcon has lost R2bn in sales. The sales miss, and
A number of innovative new online services recently launched by the Shoprite Group have been making life a whole lot easier. And the good news is, they’re here to stay – even beyond the national lockdown. Virtual Vouchers South Africans who wish to reach out and help those in need can now purchase a virtual grocery
Cognizance has some very experienced FMCG and business executives on their board. The board is formed by Neil Brimacombe (Ex Tiger Brands Exec), David Brown (Lead non exec Vodacom), and Stef Riccardi (CEO CKR Engineers). Additionally, Cognizance has strategic alliances with Retail Development Solutions Pty for Category Insights and Pack and Stack Merchandising Pty. With
37% of South Africans say they are shopping online more Permanent uplift in online shopping expected With the current lockdown and temporary ban of non-essential products and services, consumers have switched to digital shopping alternatives with 37% of South Africans saying they are shopping more online, according to a recent Nielsen syndicated study on the
Leading e-tailer releases lockdown shopping trends and stats on new donation portal As the country enters into its fourth week of lockdown, South African consumers have embraced the concept of online shopping – not only for themselves, but also to assist the many families who are in desperate need of financial relief during the COVID-19
South Africans who want to reach out and help fellow citizens who are economically destitute, in a time where physical contact is severely restricted due to the lockdown, can now buy virtual vouchers via an electronic funds transfer (EFT). The EFT functionality adds to the convenience of buying virtual vouchers, which were recently introduced and
The annual South African Dairy Championships is one of Agri-Expo’s most prestigious events. This year, eighty independent judges were called on to appraise 975 dairy products from 74 producers. The winning products are crowned SA Champions and only a few products are awarded the celebrated Qualité Mark of Excellence. It is noteworthy that these championships
The Argility Technology Group (ATG) has announced a strategic investment in Neo Retail Solutions – a company that specialises in the development; design and build, plus marketing, of automated retail technology solutions. This is the enterprise software solutions group’s sixth investment in just over two years. Neo develops smart, integrated selling platforms for high risk
As South Africa moves into its fourth week of a national lockdown, the citrus industry continues to focus on ensuring consumers have access to fresh citrus fruit while safeguarding the health of its workers. In this regard we are pleased to have seen an increase in demand for lemons from overseas markets, with 4,5 million
Tiendeo launches a cool new tool to avoid long queues and crowds in South Africa responding to the unique needs of RSA consumers and retailers “Is there a queue?”, integrates the data obtained from Tiendeo’s advanced geotracking technology with feedback from actual consumers in supermarkets. In this way, a real-time estimate of waiting times is
Right now, most owners of small and medium size (“SME”) businesses have been out of business for three weeks. Some have been able to continue paying their employees, their rent, their utility bills, their creditors – others have not. With another two (at least} business-less weeks to come, there is little doubt that most businesses
