A real bore that no one has on their radar.
The company is a holding of retail companies. About 2,700 supermarkets, stores and frnchises are operated under various brands in 15 African countries. Among others, the Kentucky Fried Chicken stores located in southern Africa belong to Shoprite.
Shoprite Holdings Limited is headquartered in Cape Town and listed on the Johannesburg Stock Exchange.
In the list of the world's largest retailers, Shoprite is far down the list, but in Africa and the Middle East it occupies first place.
The name "Shoprite" originally comes from the USA, where "ShopRite Supermarkets" has been the largest grocery chain in the state of New Jersey for around 70 years. Originally what the company was a small grocery chain with only eight stores, which was made big since the 1980s by Whitey Basson. He focused specifically on the middle and lower income groups and took over and turned around many struggling businesses. In 1991, one of its main competitors, the Checkers supermarket chain, was taken over.
The group hit the headlines in recent years because of its close ties with the Steinhoff scandal company. In the meantime, however, the company has managed to get that out of the way and is steadily rising in price.
I added the share to my portfolio about a year ago. Since then, it has risen by 65%, including dividends.
