Shoprite – Africa’s largest retailer – increases earnings by 10.8%

Shoprite – Africa’s largest retailer – announced a 10.8% increase in full-year earnings on Tuesday.

The Money Show’s Bruce Whitfield interviewed Shoprite CEO Whitey Basson.

Scroll down to listen to the interview.

The majority of our workforce have been with us for a long time. Labour relations at Shoprite are very good. We don’t have many problems with unions.

Whitey Basson, Shoprite CEO

Refrigeration makes up about 70% of our energy costs. In the 1980s we spent 0.9% of our turnover on energy. Today it’s about two percent.

Whitey Basson, Shoprite CEO

The security situation in the rest of Africa is substantially better than in South Africa. I do lose hope from time to time.

Whitey Basson, Shoprite CEO

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