Shoprite slashed its dollar-denominated debt by 80%, freeing up cash to sharpen its focus on its home market as it retreats from problematic markets elsewhere on the continent.  

The company is now sitting on just $80m (about R1.2bn) in dollar-denominated borrowings racked up by the group’s enormous capital expenditure to roll out hundreds of stores in risky but lucrative markets such as Nigeria and Angola. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now