Shoprite plans to exit Ghana and Malawi
The supermarket retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay and Walmart-owned Massmart to become the continent's leading food retailer in about 15 countries.
But forays into markets, including Angola and Nigeria, were marred by currency volatility, double-digit inflation, high import duties and dollar-based rentals.
It said Shoprite Malawi signed an agreement on 6 June to dispose of five trading stores, pending certain conditions, including approval from the Competition and Fair Trading Commission as well as the Reserve Bank of Malawi.
In Ghana, the group received a binding offer in June for seven trading stores and one warehouse. The sale is deemed highly probable, Shoprite said.
The planned sales follow exits from Nigeria, Kenya, Democratic Republic of Congo, Uganda and Madagascar. Shoprite had also restricted capital allocations to its supermarkets outside South Africa.
The retailer also said it expects headline earnings per share from continuing operations to rise between 9.4% and 19.4% in the 52 weeks ended 29 June, up from a restated R11.85 in 2024.
It expects group sales from continuing operations to rise by 8.9% to R252.7bn.
Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
22 minutes ago
- Zawya
South Africa gets closer to full membership of biggest African trade bank
South Africa moved closer to becoming a full sovereign member of the Africa Export-Import Bank, the continent's leading provider of trade finance, after the cabinet gave its approval to the plan, the government said on Thursday. Membership of Afreximbank, as the lender with a balance sheet of $35 billion is known, would give Africa's most advanced economy access to new trade investment products when its tariff row with the United States has increased its need for new export markets. Afreximbank has, however, in recent months been in a dispute over whether its loans to African nations should be restructured in the event of defaults. The government said it would get a class A shareholding, meaning it would have an increased role in Afreximbank's governance. That would include "influence over its strategic direction, structure and leadership appointments," it said in a statement containing cabinet decisions. The government did not give a timeframe on when South Africa's membership would be finalised. South Africa was not able to fully join Afreximbank as a state member when it was created in 1993 as the country was still under apartheid rule. It took up an unspecified amount of shareholding in 2017 without acceding to the treaty founding the bank. Afreximbank has four shareholder categories including class A, which is made up of African governments that hold more than 50% of shares spread among 53 member states, and regional multilateral financial institutions including the African Development Bank. The rest of the shares are held by commercial banks and private funds, overseas investors and general investors through depositary receipts listed on the Stock Exchange of Mauritius. The Cairo-based Afreximbank did not respond immediately to a request for comment on South Africa's cabinet approval. (Writing by Duncan Miriri; Editing by Barbara Lewis)
Zawya
22 minutes ago
- Zawya
Unlock Practical Solutions for Zambia's Energy Security: Exclusive Masterclasses for Zambian C&I attendees
This year's C&I Energy+Storage Summit Zambia ( isn't just about big-picture insights — it's where the region's most ambitious energy professionals roll up their sleeves and get to work. Across two days of immersive, expert-led masterclasses, attendees will gain hands-on knowledge and real-world guidance on some of the most pressing topics shaping Zambia's commercial and industrial (C&I) energy landscape. From decoding power purchase agreements (PPAs) to navigating battery storage integration and unpacking Zambia's tariff structures, these tailored sessions are designed to equip businesses with the tools to accelerate their clean energy transitions. Gain practical knowledge from technical experts, regulators and market leaders through interactive deep-dive sessions. Highlights include: Corporate PPAs – Explore how Power Purchase Agreements can unlock clean energy for businesses without upfront capital. Learn about contractual structures, bankability and how PPAs support energy security and attract private sector investment. Battery Energy Storage for C&I – Understand the fundamentals of battery technologies, how to size, integrate and manage storage systems for C&I use — from safety to inverter compatibility. Grid Capacity&Open Access – Tackle grid constraints and discover strategies for strengthening infrastructure within Zambia's Open Access framework. Sessions will cover investment signals, unbundled tariffs and energy demand forecasting. Unlock solar and storage for C&I – A practical guide to selecting and implementing solar and storage solutions. Gain insights into regulatory standards, ROI analysis and how to ensure long-term performance and operational efficiency. Solar PV Safety&Asset Management – Learn best practices for protecting your solar investment. Topics include HSE standards, preventative maintenance, insurance, battery recycling, and managing PV systems at end-of-life. Download the programme: Whether you're an energy project developer, investor, policymaker, or business leader in the C&I sectors, these masterclasses offer a rare opportunity to gain actionable insights directly from industry experts — and leave with strategies ready for implementation. Backed by Industry Leaders The summit brings together an influential advisory board and speaker line-up featuring leading voices from Zambia's energy ecosystem — including the Energy Regulation Board, Zambia Development Agency, Africa GreenCo, Standard Bank, and the Proudly Zambian Campaign. They're joined by dynamic speakers from across the continent, such as representatives from Kenya Power, ENGIE Energy Access, and the Pan African Chamber of Commerce and Industry. All will be offering insights, case studies, and solutions tailored to Zambia's energy reality. With even more powerful voices to be announced, this is a must-attend event for anyone committed to driving energy transformation in the region. This year's event is proudly supported by a network of sponsors and partners dedicated to advancing energy resilience across the continent. Sponsors include EnerJ, WEG, Vertiv, and Hexing Electrical — all bringing expertise and on-the-ground impact to support Zambia's transition to a more sustainable energy future. Further strengthening the platform are Association Partners such as the Pan-African Chamber of Commerce and Industry (PACCI) and the Zambian Association of Manufacturers, alongside Industry Partners like the Zambia Chamber of Commerce and Industry (ZACCI), the Africa Solar Industry Association (AFSIA), and the Zambia Development Agency (ZDA) — all reinforcing the summit's commitment to inclusive growth and industrial sustainability. Zambia's energy future is being written now — and your organisation can be part of the solution. Register to attend the event here: Join our free upcoming webinar: Investing in energy infrastructure for mining - trends and opportunities As mining operations across sub-Saharan Africa expand, the demand for reliable, affordable and sustainable energy continues to grow. The shift toward cleaner, more efficient energy solutions is not just a sustainability imperative – it's a strategic business decision. This webinar will bring together industry leaders, technical experts, and investors to explore the evolving energy landscape for mining in sub-Saharan Africa. Participants will gain critical insights into emerging trends, innovative technologies, bankable energy solutions and investment models reshaping how mines are powered – now and into the future. Webinar date: 13 August 2025 Time: 13:00 SAST / 11:00 GMT Register here: Webinar speakers: Moderator: Helen Zulu, Country Director at ENGIE Energy Access Zambia Jo Dean, Managing Director at Enerj Carbon Management | SAESA Board Member Henry Myburgh, Senior C&I Strategic Lead at Vertiv Africa Rehan Burger, Associate Director, S&P Global Distributed by APO Group on behalf of VUKA Group. For speaking opportunities, contact Babalwa Bungane: For press enquiries, contact Natalie Simms: About VUKA Group: As part of the Power and Energy Portfolio of VUKA Group ( this Summit aligns with VUKA's mission to connect industries, spark innovation, and fuel economic growth. VUKA Group is a premier organiser of conferences, exhibitions, and events across Africa, delivering tailored platforms for networking, knowledge sharing, and business development in energy and related sectors.
Khaleej Times
22 minutes ago
- Khaleej Times
UAE: Higher fuel sales, expansion boost Adnoc's net profit by over 12% in H1 2025
Adnoc Distribution on Tuesday reported $358 million net profit for the first half of 205, an increase of 12.2 per cent year on year, on the back of higher fuel sales and network expansion. The UAE's largest fuel and convenience retailer achieved its highest-ever first-half EBITDA of $566 million, up 10 per cent YoY. It saw a record first-half fuel volumes of 7.62 billion litres during H1 2025, up 5.6 per cent from the same period last year. Bader Saeed Al Lamki, CEO of Adnoc Distribution, said Adnoc Distribution's non-fuel retail business continues to drive strong growth, with a 14.9 per cent YoY increase in non-fuel retail gross profit and a 10.4 per cent YoY rise in transactions for the first half of 2025. 'This continued outperformance of non-fuel retail over fuel retail reinforces the company's strategic focus on diversifying revenue streams and capturing growing demand for convenience services. In addition, Adnoc Rewards, the UAE's leading fuel and convenience loyalty programme, grew by 19.5 per cent YoY to nearly 2.5 million users,' he added. Network expansion Adnoc Distribution continued its network expansion between January and June 2025, bringing its total network to nearly 940. A majority of the new stations are located in Saudi Arabia, where the company is successfully leveraging its Capex-light Dealer Owned-Company Operated (DOCO) business model. The DOCO model has enabled Adnoc Distribution to double its Saudi network YoY, from 69 to 140 stations. The company has revised its expansion guidance upwards to 60 to 70 new stations by the end of 2025, with 50 to 60 of these located in Saudi Arabia. The company has set a target of 3,000 points of sale in Egypt by the end of 2026, further strengthening its regional presence. Additionally, Adnoc Distribution's E2GO fast- and super-fast EV charging network reached over 300 charging points now installed across the UAE. It aims to expand the network to over 500 charging points by 2028. The company is on track to meet its target of adding 100 new charging points in 2025. Adnoc Distribution expects an annual payout of $700 million (at 20.57 fils per share) or a minimum of 75 per cent of net profit, whichever is higher, through 2028. At a share price of Dh3.70 as of August 6, 2025, this represents an annual yield of nearly six per cent. A dividend of $350 million for H1 2025 is expected to be distributed in October 2025, subject to board approval.
