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Primary Industry. Department Stores. Prior to the privatisation process government agencies and parastatals were operating a number of retail chain stores. These stores were scattered in all provinces of Zambia.
The government withdrew from the retailing sector by selling its loss making retail chains to Shoprite. Shoprite obtained many concessions during this period for example tax holidays and other incentives and this gave them an edge over other local chains. The tax holiday ended after 5 years and meaning that Shoprite had to now compete on an equal footing with the other local chains and independent retailers.
After the announcement, the workers sought court action against the supermarket store. Zambia's High court blocked Shoprite from leaving the country and taking its assets with it, until it paid benefits to its Zambian workers. According to the High Court judge, Shoprite could not transfer its funds and assets back to South Africa - even though it had completed the sale of its shares and wanted to exit Zambia - until some workers received their benefits.
After the judgment, the issue has been silent but Shoprite has continued to operate in Zambia. The Zambian government has put in place measures to attract and retain foreign direct investment FDI. The incentives under the Zambia Investment Centre, which applied to Shoprite at the time, consisted of general incentives and specific incentives. The general incentives provided in the Act were the a wear and tear of equipment invested and b transfer of losses from one year to the next year c education and training deductions for tax purposes and d incentives for investments in rural areas.
In addition to the general incentives, investors were entitled to an exemption from customs duties and sales duties and sales tax on all machinery and equipment other than motor vehicles required for the establishment, rehabilitation or expansion of that enterprise. An incentive offered under the Act is valid for a period of five years from the grant of the licence, permit or certificate or for such period as the Minister responsible for finance may prescribe.
Shoprite benefited from these incentives. The more significant services added in the last 18 months is the real-time transfer of money to any Shoprite or Checkers supermarket of the Group anywhere in South Africa. The service is aimed primarily at lower-income consumers without bank accounts, and offer people with no collateral the opportunity to send up to R5 at a time to friends, family or business associates at a cost far lower than charged by any financial institution.
Research Research Research activity and project outlines. About IDE. Input-Output Tables Download. Household Data on Microcredit Study in Indonesia. African Page. Manual Report. CSR Report. Read on to find out. The primary business of the company is related to food retailing, house products, pharmacies, and other services. The Shoprite Group started from humble beginnings from an 8-store shop valued at R1 million in Capetown in Through the investments and leadership of Whitney Basson , the retired Managing Director and Chief Executive of the Group, the 8-store chain was transformed into multi-billion international retail with over 2, stores, and more than , employees from over 15 countries in Africa including Zambia, Botswana, Kenya, Nigeria, among others.
What is the biggest mall in the world? Top 10 list of the best. So who is Shoprite owned by? The Shoprite Group does not have one owner as it is owned by a big number of different shareholders. However, the company has some key people. With 20 years of experience, he is an expert in extensive operations and management; therefore, the Shoprite Group is in capable hands.
With Pieter Engelbrecht in control, the Group has become the largest food retailer in Africa, the largest private employer, and the most profitable retail brand with the lowest prices in South Africa. In , the Group acquired the Checkers supermarket chain, which focuses mainly on fresh produce and other food items.
Together, they formed the Shoprite Checkers Supermarket Group, an entity which up to date comprises of Checkers supermarkets and 37 Checkers hypermarkets. Who owns Game Stores? Here is a detailed profile of South Africa's leading discount retailer. The Shoprite liquor store department has many shops open in the country that offer all kinds of beverages from cold beer, whiskey, top local and international wines, premium spirits, as well as an exquisite House of Fine Whiskey selection.
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