Nigeria’s ruling party has urged the government to nationalise South African companies operating in the West African nation in retaliation for xenophobic attacks on its nationals.
MTN Group and Shoprite are among South African firms facing a backlash to xenophobic violence in their home country.
Shoprite Group is launching standalone technology stores called K’nect that will offer consumers access to services such as global money transfers, cellphone purchases, bill payments, tickets and insurance.
The Shoprite cross-border money remittance product reached the R1-billion mark in January, after just three years of it being implemented between South Africa and Lesotho.
Retail giant Shoprite has in part blamed the implementation of an enterprise resource planning system from SAP for its earnings shocker in the half-year ended 30 December 2018.
The Competition Tribunal has issued a R20-million “administrative penalty” against Computicket for abusing its dominance between mid-2005 and 2010. It has 60 business days to pay the fine.
Shareholders at an unprecedented number of JSE Top 40 companies have, in the past year, voted against remuneration policies and/or their implementation.
The Competition Commission claims ticketing firm Computicket and its parent, retail group Shoprite Checkers, are guilty of anticompetitive conduct and has referred the two companies for prosecution.