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Shoprite’s shares fell to their worst level in more than three years after Africa’s largest food retailer reported a 20% drop in earnings and said it saw no immediate prospects of its troublesome non-SA operations returning to profitability.

In what Group CEO Pieter Engelbrecht described as a "testing year" in SA, the company was also held back by foreign-exchange shortages and currency devaluations in other markets, as well as rampant inflation in Angola...

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