Namibians own 4.3 percent of Shoprite

Namibian investors hold a 4.3 percent stake in Shoprite, according to the 2023 Integrated Report. Shoprite Holdings Limited’s international shareholders also include 47.4 percent from the USA, 16.7 percent from Hong Kong, 13.6 percent from the UK, and 5.8 percent from Luxembourg. Additional investors, totaling 13.2 percent, hail from countries such as Belgium, the Netherlands, Saudi Arabia, Switzerland, Ireland, the UAE, Kuwait, and Singapore.

The majority of Shoprite’s shareholders are from South Africa, the USA, Hong Kong, the UK, and Luxembourg. In the fiscal year ending on July 2, 2023, Shoprite achieved N$215 billion in revenue and N$11.9 billion in trading profit.

Shoprite has expanded its range of locally-produced private label products available in its stores. The company has also shared its expertise with farmers in Angola, Botswana, eSwatini, Ghana, Malawi, Mozambique, Namibia, and Zambia, enabling them to produce high-quality goods. Currently, 1,060 farmers supply products meeting Shoprite’s Freshmark standards, with some even exporting their produce to neighboring countries.

Shoprite Holdings is publicly traded on the Johannesburg Stock Exchange, the Namibian Stock Exchange, and the Lusaka Stock Exchange.

Shoprite reported that its operations have been affected by significant currency devaluation in Angola in 2022, primarily due to the country’s reliance on oil exports and its shift away from managed exchange rate regimes. The Angolan kwanza depreciated by approximately 68.7 percent against the rand in 2022.

Furthermore, Shoprite’s Ghanaian operations experienced challenges due to a 26.2 percent depreciation of the Ghanaian cedi against the rand during the financial year. The inflation rate in Ghana increased by 33.8 percent, reaching 42.5 percent in June 2023, impacting the company’s operations in the country.

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