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Banking, Finance & InvestmentBusinessEconomySouth Africa

Bank Zero announces launch of cash deposits, announces 2023 fees

by Radarr Africa
written by Radarr Africa

Bank Zero has launched cash deposits at Shoprite and Pick n Pay — a feature it prioritized due to customer demand.

“Customers can deposit at any PnP or Shoprite till-point,” the bank stated.

“The fee is set by the retailer, and customers need to confirm this with the cashier before making the deposit.”

Deposits are available in the customer’s account immediately once their card and PIN are confirmed. It quietly added cash deposits around a month ago, and Bank Zero said it is already being used actively.

“[It’s] quite surprising to see some businesses jumping in quickly,” a Bank Zero spokesperson told MyBroadband.

In addition to launching cash deposits, Bank Zero released its pricing guide for next year. All of its zero-fee services remain free, while third-party and value-added services are priced the same.

ALSO READ: Elon Musk reports an increase in Twitter usage by 20%

The only exception is Bank Zero’s card personalization and delivery fee, which it reduced. Card personalization and delivery to a Clicks store was reduced from R79 to R69.

Delivery to a street address in a metro decreased from R139 to R119, while delivery to an address “off the beaten track” was reduced from R179 to R159. “The current customer base of Bank Zero consists of a large percentage of first adopters, which reflects in our higher-than-expected account activity,” said Bank Zero chair Michael Jordaan.

“Whereas the early adopters were expected, the large percentage of business banking customers joining Bank Zero was somewhat surprising,” he added.

“It clearly talks to the current gap in the market for business banking — both in terms of fees and solutions.”

MyBroadband asked Bank Zero how many customers it has, and it said it did not wish to disclose numbers at this time.

SOURCE: My broadband

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BusinessNigeriaWestern Africa

RSNL announces the reopening of Shoprite Lekki Mall after EndSARS incident

by Radarr Africa
written by Radarr Africa

RSNL, Retail Supermarket Nigeria Ltd winners of Shoprite in Nigeria, has announced the resumption of commercial activities at its store in Circle Mall, Jakande, Lekki area, after a 24-month-long closure.

The Chief Executive Officer, RSNL, Hubertus Rick, made the disclosure at the Circle Mall reopening ceremony on Friday in Lagos.

The News Agency of Nigeria (NAN) reports that economic activities at the mall were brought to a halt following a series of looting which occurred on the heels of the nationwide #EndSARS protests in 2020.

The Circle Mall store, one of 24 nationwide outlets currently bridging the gap between local businesses and consumers before the protests, accommodated close to 50 businesses.

Mr Rick said the mall’s reopening was in line with the RSNL’s quest to make formal retail formats accessible to more Nigerians while rebuilding the economy.

This, he explained, was in view of the fact that over the years, Shoprite Nigeria had made significant contributions to the nation’s economy.

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He noted that the company currently boasts of 10,000 staff; directly and indirectly, employed with a supply chain of more than 300 leading Nigerian suppliers, and partnerships with many small businesses, farmers, and suppliers of an assortment of local brands.

“Two years ago, we made a tough decision to shut down operations at the Shoprite Circle Mall in response to the insecurity situation.

Source: Premium Times

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BusinessSouthern Africa

Octodec announces commencement of Shoprite building upgrade in the middle of Pretoria CBD

by Radarr Africa
written by Radarr Africa

Octodec Investments Limited, JSE-listed REIT announced that it has commenced upgrading its Shoprite building in the heart of the Tshwane CBD, at a cost of approximately R60 million.

The facelift is a welcome boost to the existing, bustling retail trade in the CBD, and proves renewed confidence in a node that has clearly emerged stronger post the Covid-19 pandemic, it said.

“With many retailers having returned to the CBD and various in-person university classes resuming, Octodec’s CBD retail assets are experiencing a renewed energy. We are thrilled to announce the news of this project, highlighting that the heart of Tshwane is still thriving and a vibrant place to be,” said Jeffrey Wapnick, MD of Octodec.

The first phase will be a revamp of the 4,000 square metres Shoprite supermarket and includes a new Shoprite Liquor and new retail shops on the ground floor.

The most prominent visual element will be a triple volume entrance with escalator access from Helen Joseph Street. The escalators will lead downwards to an OK Furniture store. In addition, the project includes renovations to the Helen Joseph Street façade, including a new modern shopfront.

ALSO READ: Shoprite secures R3.5bn in loans to invest in environmental and renewable energy.

The second phase of the renovation will cater to more retail tenants on the ground floor and the remainder of the basement space. Negotiations are well underway with prospective tenants, said Octodec. Further upgrades include the pedestrian access point from Madiba Street, which will be upgraded to provide a landscaped walkway for easy access to the Shoprite store.

“We enjoy deep, mutually beneficial relationships with our tenants, who often provide great insights. It is unlikely they would invest in the CBD without a positive outlook. We are seeing these same tenants lease for longer periods which further underpins their confidence in the CBD long-term. Confidence from our tenants and improved market conditions have spearheaded growth within the CBD, which Octodec will certainly benefit from.” said Wapnick.

Shoprite will continue to trade during the duration of the upgrade. The project is expected to be completed in December 2022.

Source: Business Tech

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BusinessEnergySouthern Africa

Shoprite secures R3.5bn in loans to invest in environmental and renewable energy.

by Radarr Africa
written by Radarr Africa

Shoprite Holdings, Africa’s largest food retail group has secured R3.5 billion from the country’s largest banks to further invest in various environmental and renewable-energy linked projects.

The JSE-listed group on Monday revealed that it will be receiving a R2 billion loan from Standard Bank South Africa’s largest bank by assets – as well as a R800 million sustainability-linked loan and another R700 million green loan from Rand Merchant Bank.

The group notes that the funds it will receive from the lenders will be used to invest in “renewable energy and the increase of energy from renewable sources as a percentage of total electricity consumption”.

Additionally, the funds will go towards investing in recycling projects, sustainable packaging and driving energy efficiency at its sites.

“The loans enable us to continue on the road to reduce our environmental footprint by using more renewable energy and sustainable packaging, and recycling more waste,” says Shoprite group sustainability manager Sanjeev Raghubir.

“These environmental programmes are key in our fight against climate change, and we are able to increase the pace and intensity of our actions with these loans,” he adds.

Building on environmental impact

Shoprite says the additional funding it has secured will help it build on the investments it has already made over the course of the past financial year.

Further, Shoprite has managed to increase the installed capacity of its solar photovoltaic (PV) systems by 82%.

“The loans allow us to continue to make a sustainable, positive environmental impact and improve our operational efficiencies, which in turn result in additional ongoing savings that we can pass on to our customers,” says Raghubir.

Source: Moneyweb

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BusinessSouthern Africa

Shoprite share price increases as sales climb by 10%

by Radarr Africa
written by Radarr Africa

Shoprite witnessed an increase in share price by almost 5% on Tuesday morning after the company reported strong sales growth for the 52 weeks to 3 July 2022. 

Sales climbed to more than R184 billion – almost 10% higher than the 53 weeks in the previous reporting year. 

Taking into account the additional week of sales, the group increased sales by almost 12% on a 52-week basis. This is despite the July 2021 civil unrest, which hit 231 of its stores. More than 30 of the affected stores remain shut, nine of which have been permanently closed.

South African supermarkets grew sales by 10.1% to almost R134 billion – contributing 80% of total sales. Sales in other African markets increased by 10.4%. Its LiquorShop business in South Africa saw sales jump by almost 45%. In the previous year, pandemic-related sales bans cost it 144 trading days, compared to the loss of only 48 in the past year. Furniture sales declined by 1.4%. 

Shoprite Group also includes Usave, Checkers, House & Home and OK Furniture.

Across the group, prices increased by 3.9% for the year, with a big increase of close to 5% in the second half of the year.

The group added a net 127 stores, bring its total number of stores to 2 476. 

Shoprite will release its year-end results on 6 September 2022.

Its shares were trading at R219.14 on Tuesday morning, up 42% from a year ago.

Source: News 24

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AmazonBusinessSouth Africa

Shoprite launches division dedicated to developing its small suppliers and medium sized enterprise

by Radarr Africa
written by Radarr Africa

Shoprite has launched a new division that will help to grow and provide commercially viable small and medium sized enterprises with access to its market.

Through Shoprite Next Capital, the entrepreneurs will be supported with marketing opportunities, working capital assistance, packaging and labelling support, data sharing, product range and geographic expansion.

The support could also include private label partnerships with the retail giant.

“This new division will provide SMMEs with easier entry into the group’s retail market, with direct access to buyers that understand their needs, combined with personalized growth plans that will assist suppliers to scale up gradually,” said Shoprite’s general manager for enterprise and supplier development, Maude Modise.

Speaking at the launch in Johannesburg on Tuesday evening, Modise explained that Shoprite Next Capital is a continuation of the retailer’s mutually beneficial partnership with its small suppliers.

“In the last fiscal year, we procured 32% more than in the previous year, from small suppliers, this has facilitated the expansion of a number of these suppliers both geographically and via product extension,” Modise explained. 

Shoprite has always partnered with SMMEs, but the establishment of the division comes with dedicated staff and resources, focused on their needs. 

ALSO READ: Amazon expands into South Africa, plans to launch an online marketplace.

Some of Shoprite’s current suppliers include farming couple Nonhlanhla Mokoena Chimhandamba and Simbarashe Chimhandambe and Simbarashe Chimhandamba, who provide Shoprite with produce from their Urban Grown Organics business and chicken feet and neck canning businesss Tin Stuf, owned by Eiren Drake.

Also present at the launch was Small Business Development Minister Stella Ndabeni-Abrahams, who lauded Shoprite for the role it is playing in developing small businesses.

The government has gazetted the National Integrated Small Enterprise Development plan as part of its master plans that are driven by the Department of Trade, Industry and Competition.

The minister urged the small business owners who were present at the launch to comment on the plan.

“We would be calling some of you, if you have not made inputs, because I know you guys are so shy to make you voice heard when we gazette legislations until it hits you,” she said.

Ndabeni-Abrahams further urged the entrepreneurs to pay attention to legislation that may affect them.

The government is also bolstering the role it plays in supporting small and medium sized businesses with the launch of a partnership projects team, which will working on cutting red tape.

Source: News 24

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BusinessSouth Africa

Shoprite cautions customers against data ‘compromise’

by Radarr Africa
written by Radarr Africa

The Shoprite Group which offers global money transfers to 100 different countries has warned of a suspected data “compromise”.

Customers who did money transfers to and within Eswatini and within Namibia and Zambia may be affected.   

The data compromise included names and identity numbers, but no financial information or bank account numbers. 

While Shoprite says it not aware of any misuse or publication of customer data that may have been acquired, it said it may still be used by the “unauthorized party”.

Customers are asked not to disclose personal information such as passwords and PINs when asked to do so by anyone via telephone, SMS or email. 

“Affected customers will receive an SMS to the cell number supplied at the time of the transaction,” Shoprite said.

Forensic experts and other data security professionals are investigating the incident.

Source: News 24

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AfricaBusiness

Shoprite, Checkers recall canned tuna

by Radarr Africa
written by Radarr Africa

Shoprite and Checkers have recalled a specific batch of canned tuna products owing to possible defects in the cans. Some 170g cans of Cape Point light meat shredded tuna in water may have defective double seams.

“To date, we have not received any complaints and this action is being taken out of an abundance of caution,” the Shoprite Group said in a statement. Cape Point is a house brand owned by Shoprite and Checkers.

Only cans with the production code EEJCK BPHGS01 are affected. The production code is located at the bottom of the cans.

The cans have a production date of 23 July 2021, and a best-before date of 23 July 2024. The cans should be returned to Shoprite or Checkers stores for a full refund.  

Other Cape Point products are not affected.

In 2020, West Point Processors recalled cans of pilchards in tomato sauce – including the Cape Point brand – also owing to defective cans. West Point did not produce the Cape Point tuna product that has been recalled.

Source: Fin 24

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