Pharmacy retailer Dis-Chem will add six stores to the four it has in Namibia and roll out smaller-format stores in South Africa as it continues to implement its growth strategy in the region. In an interview after its AGM on Friday, Dis-Chem chief financial officer Rui Morais said the Southern African Development Community (SADC) was an area of focus for the retail company. "We'll have six stores in Namibia by the end of the year and our first in Botswana," he said. "It [the expansion] is SADC-focused initially because tied into our business model is how pharmacies are regulated, which differs from country to country in the region." Friday's AGM was the second Dis-Chem has held since listing on the JSE in 2016 at a share price of R21.48. The stock rose to R39 this January but is now at R28.31. Morais said in addition to Namibia and Botswana, they would open 20 more shops in South Africa by the end of the year. With a core health and beauty business, Dis-Chem's large-format stores of...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.