• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Companies

Shoprite Namibia employees cash in on N$8.9bn BEE scheme

by editor
May 19, 2022
in Companies
48
A A
59
SHARES
978
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

O&L Leisure launches rewards programme to encourage local travel

NamRA collects N$12.78 billion in first two months of financial year

Shoprite Namibia employees are expected to cash in on the retailer’s new N$8.9 billion black economic empowerment (BEE) deal.

According to the Shoprite group, 126 000 South African employees who will be direct beneficiaries of the deal and 16 000 non-South African employees including from Namibia will benefit from an initial distribution of N$77 million for the 6-month period to 2 January 2022.

“Notwithstanding the fact that the Transaction defines Beneficiaries of the Employee Trust as RSA Employees, Shoprite Holdings believes it is imperative to recognise the valued role all employees play in the Group’s success. As such, the Group’s Non-RSA. Employees will receive an equivalent payment to that of the RSA Employees, which will be paid as a cash bonus payment through payroll, subject to the same eligibility criteria and terms as applicable to the Beneficiaries of the Employee Trust,” the Group said in a SENS announcement.

According to terms of the deal, the Shoprite Group will issue 40 million shares, in its subsidiary, Shoprite Checkers, to its staff through a new black economic empowerment (BEE) trust, effectively increasing black ownership in the subsidiary to 19.2%.

“The transaction is intended to retain, motivate and incentivize the employees of the Shoprite Group to continue to contribute towards its success going forward. The transaction represents a material step that has been taken in strengthening the relationship between the Shoprite Group and its employees for the benefit of the Shoprite Group,” the company said.

Shoprite Checkers will provide a N$888 million contribution which will allow for the subscription of 10% of the shares to be held by the Shoprite Employee Trust, with the balance of shares funded on a notional basis by Shoprite Checkers.

“The Shoprite Group anticipates the impact of the transaction on the Shoprite Group’s headline earnings to be a reduction in the region of 2.7%. This is based on the initial distribution to be paid relative to the Shoprite Group’s headline earnings from continuing operations for the 6-month period to 2 January 2022. This transaction will not have an impact on the shares in issue in Shoprite Holdings.”

“This is based on the initial distribution to be paid relative to the Shoprite group’s headline earnings from continuing operations for the six months to January 2, 2022. This transaction will not have an impact on the shares in issue in Shoprite Holdings.”

Relations between Shoprite and its Namibian employees have not been rosy, with 2 040 of the about 4 600 employees having embarked on a strike after negotiations for wage increases had reached a deadlock.

Shoprite in Namibia operates over 20 stores.

author avatar
editor
See Full Bio
Tags: companies
Share24Tweet15Share4
Previous Post

ANIREP secures new N$300m solar plant deal

Next Post

Gondwana launches tourism destination transfer service

Recommended For You

Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

by reporter
July 10, 2025
0
Namibia’s June inflation hits 3.7%, driven by food, alcohol and housing

Namibia’s annual inflation rate stood at 3.7% in June 2025, with food, alcoholic drinks, and housing costs being the main drivers, according to the Namibia Statistics Agency (NSA)....

Read moreDetails

O&L Leisure launches rewards programme to encourage local travel

by reporter
July 10, 2025
0
O&L Leisure launches rewards programme to encourage local travel

O&L Leisure has introduced a new rewards programme aimed at encouraging more Namibians to travel locally, offering significant discounts on accommodation and dining across its properties. The Leisure...

Read moreDetails

NamRA collects N$12.78 billion in first two months of financial year

by reporter
July 9, 2025
0
NamRA sees drop in illegal vehicle imports following moratorium

The Namibia Revenue Agency (NamRA) has collected N$12.78 billion in revenue between 1 April and 31 May 2025, as part of the current financial year. Of this total,...

Read moreDetails

Namibia’s national parks generate over N$140m annually

by reporter
July 9, 2025
0
Northern Namibia leads tourism growth with 58% occupancy in May

Namibia’s protected areas generate more than N$140 million annually from tourism and conservation fees and support the livelihoods of at least 500,000 people, according to a revised draft...

Read moreDetails

Namibia backs India’s pharmaceutical hub proposal

by reporter
July 9, 2025
0
Namibia backs India’s pharmaceutical hub proposal

Namibia has expressed its full support for India’s proposal to establish a pharmaceutical manufacturing hub in the country under the “Pharmacy of the World” initiative. President Netumbo Nandi-Ndaitwah...

Read moreDetails
Next Post
Gondwana launches tourism destination transfer service

Gondwana launches tourism destination transfer service

Related News

NamPower plans N$1bn solar plant

NamPower plans N$1bn solar plant

July 17, 2023
Gondwana launches Hakusembe River Camping2Go

Gondwana launches Hakusembe River Camping2Go

March 5, 2024
Namibia Grape Company commits N$24 million for vineyard revamp

Namibia Grape Company commits N$24 million for vineyard revamp

April 10, 2025

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.