South Africa’s Shoprite, Investec partner to expand banking services offering

JOHANNESBURG, Nov 9 (Reuters) – Shoprite Holdings, South Africa’s biggest grocer, has agreed in principle to partner with lender Investec to expand its financial services offering, including the launch of a debit card, the companies said on Monday.The proposed alliance, which remains subject to regulatory approval, will see Investec become the banking sponsor for an expanded transactional account offering through Shoprite Financial Services.