Tag Archives: Pick n Pay
Pick n Pay: Latest News
Peter Pedroncelli, 6:12 am
Shoppers in Cape Town will, for a limited time, be able to use bitcoin as a payment method for groceries and services at a Pick n Pay supermarket store in the South African city. In what is potentially a world-first for a major supermarket chain, customers at Pick n Pay’s head office campus store in Cape Town will be able to use the bitcoin cryptocurrency for their purchases on a pilot basis.
Dana Sanchez, 5:39 pm
MTN’s announcement shows how difficult it is to crack mobile payments in South Africa’s financial services market. With one door closing, MTN is entering the micro insurance business with MMI Holdings in a joint venture called aYo. The mobile financial services industry is changing, and aYo will be able to compete thanks to the combined expertise, scale and market access of both companies. Insurance penetration is low in many African countries and MTN will be able to offer relevant, accessible and easy insurance solutions to consumers, the company said.
Dana Sanchez, 7:52 am
Several stocks in Africa share high-growth characteristics, according to a global stock database for institutional investors. The Nairobi exchange is having an awful 2015 amid a commoditywide bear market. The 20-stock benchmark index is down 22% since Jan. 1 through Monday. But Bamburi Cement is bucking the decline, and there are others. IPOs are at an 8-year high on the Johannesburg Stock Exchange.
Kevin Mwanza, 7:51 am
In November 2013, barely one and half years after South African retailer Woolworth expanded into Nigeria it called it quits and pulled out its three stores from the west African country citing high rental costs, duties and complex supply chain processes. Looking back, Woolworth chief executive Ian Moir told Times Live that the retail should not have even gone there in the first place.
Ann Brown, 6:00 pm
From iOL South Africa’s retail giants have been dragged into the Israeli-Palestinian conflict. Local organizations supporting the Palestinian cause are rallying behind an international movement – Boycott, Divestment, Sanctions (BDS) – urging people not to buy goods made in Israel. They have targeted Pick n’ Pay, Shoprite and Woolworths and urged consumers not to buy […]
Ann Brown, 5:00 pm
From Business Day Pick n Pay’s 41 Percent-owned Zimbabwean retailer TM Supermarkets will open more stores in the next financial year (2015), Meikles Limited group chairman John Moxon said on Wednesday. Meikles owns 59 percent of TM Supermarkets. The addition of four stores under the Meikles Mega Market stores portfolio will add to TM’s chain […]
Dana Sanchez, 10:44 am
Nigerian businessman Olorogun Michael Ibru started selling frozen fish from the back of a truck in 1957. As his business grew, he chartered a fishing boat, then went into large-scale fishing, eventually buying trawlers. The company expanded into brewing, construction, petroleum distribution, warehousing and imports. Ibru’s son, Oskar, took over in the 1980s.
Kevin Mwanza, 5:41 am
Massmart, a subsidiary of U.S. retail giant Walmart in South Africa, has signed a deal that will allow local village fresh produce farmers to sell their products across its outlets in the country, SAnews reported. The leading American retailer bought 51 percent of South Africa’s Massmart in 2011, spending $2.4bn on a company that has […]
Dana Sanchez, 12:17 pm
In 2003, South Africa’s black middle class numbered about 1.7 million people. Now it is more than 4-million strong and has more spending power than the white middle class.
- Real Estate