Former Pick n Pay CEO Richard Brasher stated that of the R200bn in sales growth expected in the South African grocery market to 2025, R140bn will come from the discount market where Pick n Pay is the least represented.
Shoprite Holdings has Usave.
Pick n Pay has Boxer.
Pick n' Pay is open to the idea of buying Massmart’s Cambridge Food chain (63 Cambridge and Rhino stores).
This will enable it to compete aggressively in the discount market with Boxer and Cambridge Food against Shoprite uSave?
Boxer opened 44 stores in 2020.
Pick n' Pay already operates in this market via the ownership of Boxer.
It owns 342 Boxer stores. Boxer is South Africa’s leading limited-range discount supermarket.
Cambridge Food caters for the low- to middle-income shoppers which PnP is targeting.
Arnot OpCo signed a 10year (2m tonnes of coal a year) Coal Supply Agreement with Eskom for the supply of coal for the Arnot Power Station.
In terms of the agreement, Arnot OpCo will supply the full coal requirement for the life of Arnot Power Station.
Who is Arnot OpCo?
Arnot OpCo a mining company that is half-owned by 1 038 former Exxaro Resources employees who were retrenched in 2015 from the Arnot Mine in Middelburg.
The other half is owned by Wescoal which is listed on the JSE.
How did the employees come about owning the 50%?
Minister of Mineral Resources granted consent in terms of s11 of the MPRDA for the cession of the mining right for Exxaro's Arnot coal mine to a Consortium which will benefit its former employees who had been retrenched.
Energy experts are estimating the cost to repair the damaged caused after the explosion at Eskom’s Medupi Unit 4 to be between R20bn and R40bn and will take up to two years to repair the damage.
How much has the Medupi project cost Eskom over the years?
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Chief among the reasons for the high debt pile at Eskom is the poorly designed and planned construction of the Medupi & Kusile power stations( 2 of the biggest coal-fired power stations in the world).
There was a need for Madupi & Kusile, but the funding strategy was a disaster.
Where did the problems start?
It was back in 2008/2009 during the design stage towards the 2010 World Cup and the projected increases in demand for power.
Part of the pressure to construct the power stations was due to the impending Soccer World Cup.
The deal saw the Ubuntu-Botho consortium take an initial 8% stake in Sanlam.
Shareholding was extended to include broad-based groups; trade union companies, religious organisations, women and youth groups,provincial companies from all the provinces, representing 700 shareholders
By 31 December 2013, the 8% equity stake had grown to 14% through a combination of share buybacks and the reclassification of an additional 66.5 million deferred shares to ordinary shares.
How/Why is it dubbed to be the most successful B-BBEE scheme?🤔
CEO of Adapt IT, Sbu Shabalala, has taken the decision to terminate his employment with Adapt IT and resign as director of Adapt IT and its subsidiaries.
Reasons for the above?
He took leave in May following allegations he hired thugs to beat up his estranged wife's partner.