For those who have been following Shoprite’s ascent from an SA-focused retailer in early 2000s to a multinational supermarket chain at the vanguard of the African discount grocery retail industry, it looked like a one-way bet on African growth. 

The past few years have given the management team led by Pieter Engelbrecht and shareholders a sobering reality check of the challenges of rolling out hundreds of stores in countries whose economic fundamentals are tied to commodity prices. ..

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