South Africa was ranked third among the BRICS economies in the World Economic Forum's 2015-2016 Global Competitiveness Index and the second among African country, after Mauritius. South African legislation governing commerce and has made strong policies on competition, copyright, patents, trademarks and disputes. Additionally, the country's modern infrastructure supports efficient distribution of goods throughout the southern African region and facilitates trade with other countries. Hence, competitive market forces have thrived and a business friendly atmosphere has been created which allows South African companies to rub shoulders with their global counterparts. Here is the list of top 10 companies in South Africa in 2016.
10. Shoprite Holding
As Africa's largest food retailer, Shoprite has been a pioneer in distribution excellence and consumer satisfaction.
Image: company website
This is proven by the recent Times Retail Awards where Shoprite bagged the award for number one Grocery store while the group also came second and third in Household Appliance and Specialist Entertainment category. Shoprite operates with 1825 corporate and 363 franchise outlets in 15 countries across Africa and the Indian Ocean Islands.
The Group is continuously implementing strategic expansion to maintain its position as the leading food retailer of the continent. In order to cater to the demand of all its customer segments it has opened stores in three different formats i.e. Checkers, Checkers Hyper and House & Home stores focusing on higher income group, Shoprite and OK Furniture focusing on the broad middle income group and Shoprite Usave focusing on the lower income section. It closely mirrors the demographic profile of the customers which shop at the Group’s supermarkets each month. It has thereby been able to position itself as a one-stop solution for food and household items by providing world class shopping experience at lowest possible prices.
The Group’s chains are now being frequented by more than 72% of all South African shoppers. It currently employs more than 136,000 people and is a major contributor in nurturing stable economies and social upliftment of the people of Africa. Hence, owing to its strong hold on the South African market and growing presence in the Sothern Africa it has a potential to substantially increase its sales from the current 9.3bn USD to 20bn USD in a span of 5 years. This kind of expansion will help it not only retain its position in food retail but make its global presence felt by tapping into uncharted territories and have a first mover advantage in most of Southern Africa.