Expansion shake-up on cards at Shoprite
The Steinhoff merger would have been Africa's biggest retail deal yet
After calling off the Steinhoff merger, which would have been Africa's biggest retail deal yet, the Shoprite group seems to have its own plans to move into other territories beyond Africa. And it seems that separating the group into two businesses is on the cards to achieve this. Shoprite CEO Pieter Engelbrecht said this week that the group's long-term vision might include separating the Shoprite business into two entities to cater for the African and international operations. "But we will need a certain size. I think at the moment Shoprite Africa on its own is too small, but that might be something that could happen in the future," said Engelbrecht. Shoprite has 417 stores in Africa, with its rest of Africa operations accounting for 62.5% growth in trading profit the six-month trading period to December. The group also announced plans this week to expand into other developing markets.Shoprite plans to open 116 South African stores and 49 stores in the rest of Africa next year. Alth...
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