One would have assumed that shoppers in township and rural areas would be harder hit by surging food and fuel costs than their counterparts in upscale urban areas.

But Dipula Income Fund has yet to see any sign of a slowdown in spending in its sprawling portfolio of 86 retail properties. The real estate investment trust (Reit) is one of the JSE’s largest players in the convenience retail sector, with many of its properties in townships, rural areas and CBDs. ..

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