Retail group Shoprite Group has reported steady growth across its African operations, although trading conditions in Mozambique remain challenging.
The company said its supermarket operations outside South Africa recorded 12.1% sales growth, or 9.5% in constant currency terms, reflecting stronger demand across selected African markets. However, Mozambique was highlighted as one of the markets where profitability remained under pressure due to difficult economic and trading conditions.
Chief Executive Officer Pieter Engelbrecht said the group is maintaining a disciplined investment strategy across its African portfolio, focusing on sustainable growth rather than rapid expansion.
Following recent portfolio restructuring, Shoprite now operates in seven African countries after classifying its businesses in Ghana and Malawi as discontinued operations. The company said this allows it to concentrate resources on core markets closer to its southern African base.
The retailer also continued to expand its physical presence across the continent, opening 273 new stores over the past year and creating 1 711 new jobs, supporting local employment and retail access in the regions where it operates.
–ChannelAfrica–
