The Shoprite Group (JSE: SHP), is Africa’s largest supermarket retailer, operating more than 2,892 stores across Africa. The ‘s headquarters are in Brackenfell in the Western Cape province of South Africa. Shoprite Holdings Limited is a public listed on the Johannesburg Stock Exchange, with secondary listings on both the Namibian and Zambian Stock Exchanges. The Shoprite Group employs more than 142,000 people and is the biggest private-sector employer in South Africa.
In July 2021 things took a huge turn In South Africa when people decided to loot and burn the stores demanding that the government should free Zuma from jail after he was arrested most of the shops that we’re affected we’re shoprite because they have many stores almost everywhere. Of all the part of South Africa Durban was the one that was affected because people were not only looting but they were also burning malls.
Things got so bad that malls had to close for days meaning they had nowhere to buy food after burning the stores down, but there were only selected places they can do shopping at as people managed to protect those places by getting extra security.
But unfortunately for those malls that were burned down, they had to remain closed but some of them were able to be built again while others were not built. Since Shoprite was one of the shops that got affected during the looting it seems like things are about to be bad.
A lady took to her social media account and shared that 35 of the Shoprite group’s stores remain closed after the riots of mid-2021, two Checkers Hypers. The group believes that six stores will not reopen, seven will open before year-end and the remainder will open in the next financial year. And this will allegedly happen in Durban
Source: InceConnect.
Employees were probably hoping that things will be better they get back to work as soon as possible but by the look of things that won’t happen anytime soon. And the painful thing about this whole thing is that it’s not everyone that looted but a lot of people are suffering.
This is so painful on top of the fact that South Africa has a high population of unemployment, now it seems like nothing is getting better instead of getting better they are getting worse. Does this mean these people have been jobless all along?
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