In Brief k’necting the dots
First stop, Shoprite, whose k’nect mobile cellular network has slashed prices by more than 35% and is now South Africa’s lowest cost data provider, with a GB costing you as little as R19.50. “Shoprite is South Africa’s low-price champion, and that extends to our growing suite of fintech products which is driven entirely by customer needs,” says Jean Olivier, General Manager: Financial Services. Next up, also Shoprite, which launched its much-heralded UNIQ clothing store in Cape Town’s Canal Walk shopping centre last week. Like the similarly named and logo’d Uniqlo in other climes, Shoprite’s offering is focused on premium basics, and provides a welcome hedge against load shedding: while the clothes do seem cool, they do not require refrigeration. Finally, SPAR, still under reputational and legal attack from the Giannacopouloses of Eshowe. This time the family has named a pair of SPAR execs in a criminal complaint of fraud and perjury relating to the manner in which they allege their massive operation was ejected from the Group.
Comment: We can’t help feeling there’s a deal at the end of this litigious road. But likely an expensive one for SPAR.