Chamwe Kaira
Namibia remains strategic to Pepkor Holdings Limited, which has expanded its footprint in the country through recent acquisitions, including Choice Clothing.
Pepkor’s annual financial statements for the year ended 30 September 2025 show that the group views Namibia as an important market within its Southern African operations, with further expansion expected beyond the 2025 financial year.
The report states that Pepkor operates retail stores in Namibia across several business units.
These include clothing, general merchandise, furniture, appliances and electronics.
Namibia is listed among the group’s key foreign markets outside South Africa, alongside Botswana, Lesotho and Eswatini, and contributes to the group’s revenue and asset base under “other foreign countries”.
During the financial year, Pepkor completed the acquisition of Choice Clothing, a discount fashion retailer with more than 100 stores across South Africa and Namibia.
The transaction was completed on 1 June 2025 at a purchase price of N$218 million, funded through existing borrowings and cash reserves.
The acquisition expanded Pepkor’s clothing retail presence in Namibia through the Choice Clothing and Big Daddy brands.
After the reporting period, Pepkor acquired Shoprite’s furniture businesses, OK Furniture and House & Home, which operate in Botswana, Eswatini, Lesotho, Namibia and Zambia.
The acquisition became effective on 1 October 2025 and includes selected stores and assets in Namibia, such as inventory, fixed assets, instalment sale loan books and insurance cell captive arrangements based in the country.
The total purchase consideration for the multi-country transaction was N$584 million, payable in cash.
Because the transaction took place after year-end, no revenue or profit from the Namibian operations is reflected in Pepkor’s 2025 financial results.
The group said accounting for the acquisition was still being finalised when the financial statements were authorised for issue, and detailed asset and liability valuations for the Namibian business were not yet available.
The report also notes that Pepkor Lifestyle, the group’s furniture and electronics retail division, operates more than 900 stores across South Africa, Botswana, Lesotho, Namibia and Eswatini.
This positions Namibia as part of Pepkor’s established regional retail network.
Caption
Pepkor completed the acquisition of Choice Clothing on 1 June.
- Photo: Contributed
