One of the salesmen sent back a telegram, saying: “There’s no market here because nobody here wears shoes,” and the other one sent a telegram back: “I’m elated because what a market – because nobody has shoes.”. All Rights Reserved. What advice would you give the CEO of Shoprite Store about how to improve it? Supplier Portal. By 1979, Pep Stores made its foray into the food retailing business with its acquisition of Shoprite, a small chain of retail outlets spread across South Africa. Shoprite Holdings Ltd. engages in the management of retail stores. Now I travel across Africa, helping FORBES track the richest people on the…, I previously worked as a reporter for Business Daily, Kenya's largest business newspaper. South African billionaire Christo Wiese owes the South African Revenue Service $245 million, or R2billion in unpaid taxes, reports state-owned South African Broadcasting Corp. Christo Wiese is the brain behind Shoprite, Africa’s most storied retail chain. The Other segment offers trading in RSA and Non-RSA, including franchise operations, and retail and wholesale of pharmaceutical products. Can South Africa's King Of Retailing Succeed In The Brutal UK Market? INDEPENDENT NON-EXECUTIVE DIRECTORS. What is it worth on paper? After acquiring a bachelors’ degree in law from the University of Stellenbosch, Wiese practiced at the Cape Bar for several years before taking up a job as an Executive Director at Pepkor, a discount clothing chain his parents had helped found. Careers; Contact Us. The company acquired the retail chains Smart Group Holdings, Cashbuild, Checkers and Stuttafords and in the same year, Wiese led the company to open its first retail outlet in Scotland. A story is told of two shoe salesmen who went to a poor country to undertake due diligence because their parent company was looking to make a foray into the country. With Wiese at the helm, the company made some audacious acquisitions. This translates to about N25.6 billion using the official exchange rate. He assumed the role on 1 January 2017, bringing with him extensive operational and management experience gained over 20 years with the Group. Brett Wing has been named president of ShopRite Supermarkets (SRS), a wholly owned subsidiary of Wakefern Food Corp., which operates 34 ShopRite stores, effective immediately. The South African billionaire is currently facing a legal battle to recover more than $1 million in cash that was seized from him in 2009 by British customs officials. Shoprite CEO Whitey Basson has decided to retire, bringing to a close a wildly successful, 37-year stint at the helm of Africa’s largest retailer. German shepherd yorkie mix full grown Love or hate him; former Shoprite CEO Whitey Basson is a retail genius. Shoprite Holdings Limited, an investment company that engages in the food retailing business. Of course, Wiese went ahead and launched a Pepkor store in the southern African country. about how it all began and where it’s going. Shoprite CEO's pay up by 4.5% to top R21.27m News Adrian Gore (CEO of Discovery) Adrian Gore has a fixed Salary of R6.59m with a total of R19m. By Janice Kew Oct 4, 2016. His combined interests in Pepkor and Shoprite- the continent’s largest retailer are currently worth $2.4 billion. He had not gotten a basic pay increment from 2013 and had no one-time payments at least for five fiscal years. web search. His combined interests in Pepkor and Shoprite- the continent’s largest retailer are currently worth $2.4 billion. Generally speaking, the bigger the hexagon is, the more valuable ShopRite (United States) networth should be on the internet! Shoprite's intention to divest from its Nigerian operations appears to be anchored on these factors. I previously worked as a reporter for Business Daily, Kenya's largest business newspaper. Asked December 16, 2016. Become a Supplier. play_arrow. Christo Wiese is the brain behind Shoprite, Africa’s most storied retail chain. © 2021 Forbes Media LLC. Shoprite Group Supplier Awards. msn news. Skip to Navigation; Skip to Content; Skip to footer; Sign in. Shoprite CEO Pieter Engelbrecht. But in the initial stage of this position, Engelbrecht has lost a lot of … Last year, he voiced his thoughts in an opinion article in Ernst & Young’s 2011 Africa attractiveness survey: “I’m extremely positive about investment in Africa. 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If you were in charge, what would you do to make Shoprite Store a better place to work? He had not gotten a basic pay increment from 2013 and had no one-time payments at least for five fiscal years. Elon Musk, the CEO of Tesla Inc and Space X, is now the richest person in the world, after Tesla's share price soared 7.9 per cent on Thursday (Jan. 7). Business aside, Wiese has been one of Africa’s most vocal economic optimists. Franchise Opportunities. If it had a slogan, it would be similar to that of the U. S. Post Office: nor rain, nor Siberian ice, nor negative futures can take Russia’s state owned oil firms off the Forbes Global 2000 list. “I believe I am good for another five to seven years,” he said last year during an interview with South Africa's Moneyweb. LPGA Tour pro Mika Miyazato , a Japanese nationwide, is best referred to as the 2004’sJapan Amateur Championship winner (won… Use Forbes logos and quotes in your marketing. That anecdote is reminiscent of South African billionaire Christo Wiese’s story. Apart from serving as chairman of Pepkor, Shoprite and Tulca, he is on the board of South African media giant Primedia and financial services firm PSG Group Ltd. Wiese is 70, but he says he’s not prepared to step aside anytime soon. In 2013 he was among the world’s top 400 richest people, and in 2017 had an estimated worth of about $66bn, according to Forbes. Based in Keasbey, New Jersey, ShopRite consists of 50 individually owned-and-operated affiliates with over 296 stores, all under its corporate and distribution arm, Wakefern Food Corporation. Opinions expressed by Forbes Contributors are their own. Earnings: R50 million The Managing Director and Chief Executive of Shoprite Holdings Ltd, James Wellwood Basson also known as Whitey has obviously … Answer See 8 answers. ShopRite Supermarkets is a retailers’ cooperative (co-op) chain of supermarkets with stores in New Jersey, New York, Connecticut, Delaware, Maryland, and Pennsylvania. Shoprite Holdings announced at the company's Annual General Meeting held on 31 October 2016 that the company's Chief Executive Officer, Whitey Basson, decided to retire at the end of December 2016. Answered January 13, 2019. Wiese has seen his own fair share of troubles, too. Global 2000 Highlights: Inside The Numbers Of The World’s Largest Public Companies, The World’s Largest Food And Restaurant Companies In 2020, America’s Largest Public Companies In 2020: JPMorgan Chase Leads For The Second Year In A Row. While the CEO of 37 years is long departed, the chair, Christo Wiese, is clinging to the position. Shoprite Holdings chief executive Pieter Engelbrecht’s total remuneration was R21.27m in 2019, up by 4.5percent compared with last year's R20.36m. In addition to retail, the mogul has been involved with several other companies and sits on numerous corporate boards. Contact Us. Gradually, Whitey Basson 2010 earnings … Asked December 16, 2016. In the UK, CEOs are under scrutiny, with questions over whether their remuneration is worth it when you look at the value they add. Going by the company’s most recent annual report published in June 2019, Shoprite values its equity in its Nigerian subsidiary at R 1.164 billion (1.1 billion rands). Shoprite CEO scoops R50m performance bonus. Christoffel Wiese is also a CEO but a Non-Executive one. Clare Wiese, the daughter of South African billionaire, Christo Wiese, has reportedly acquired a $6 million villa in the upmarket Clifton area of Cape Town, South Africa. The collapse of the Steinhoff share price was a significant blow, pushing him down the ranks of the world’s wealthiest. The Del Monte representative suggested the grocers try cooperative buying. He is widely acknowledged as one of the richest men in Africa today. Today, Wiese is the largest individual shareholder and chairman of retail giants Pepkor, Shoprite and Tradehold, and one of the continent’s most successful entrepreneurs, with a net worth of $3.1 billion on Forbes' 2012 World's Billionaires List. Pieter C Engelbrecht is CEO/Executive Director at Shoprite Holdings Ltd. See Pieter C Engelbrecht's compensation, career history, education, & memberships. Africa has a wonderful climate, wonderful people and amazing possibilities. Pieter Engelbrecht (CEO of Shoprite) Shoprite CEO, Pieter Engelbrecht aged 49, earns a total compensation of R18.5m. But, a few miscalculations have seen him wipe fortunes off his balance sheet. Debt Securities 1 hour ago. Now I travel across Africa, helping FORBES track the richest people on the continent and telling their stories. Mika Miyazato Net Worth. He was paid up to a total of R100.1m when the one-time R50m bonus on performance was added. Streaming issues? January 2021 FGN Bond records oversubscription of N88.3 billion. A British judge ordered that the money be seized on the suspicion that it was the proceeds of crime, but according to the Daily Mail, Wiese and his lawyers have explained that the money was part of profits from diamond deals in South Africa in the 80s and 90s and had been kept in a safety deposit box in the Ritz hotel because of foreign exchange restrictions in his homeland. 7. There were no clothes shops in the country, and a colleague from Pep Stores with whom he had made the trip told him, “You know, we can’t come and open shops here because people prefer to buy  their clothes from hawkers,” Wiese recalled during an interview with South Africa's Leadership magazine. under the OK Furniture and OK Power Express stores. Wiese has been the engineer of all this growth, and has reaped some handsome financial dividends in the long run. In 1991 Pepkor made four additional acquisitions. Supply Chain Management. The Furniture segment involves in the retail operations. Its main operating subsidiaries are Pep and Ackermans in South Africa and Best & Less in Australia, all based on a high volume/lower margin business model. The company was founded in 1979 and is headquartered in Brackenfell, South Africa. America's Top Givers: The 25 Most Philanthropic Billionaires, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Forbes Global 2000 Shows Nothing Can Stop Russia’s Oil Beasts, Forbes Global 2000: Pandemic Will Roil The Insurance Sector, Former Billionaire Christo Wiese To Step Down From Shoprite Next Year, South African Retail Tycoon Loses Billionaire Status Amid Accounting Crisis, Billionaire's Daughter Buys $7 Million Mansion In Cape Town, South Africa, The Biggest African Billionaire Gainers Of 2015. Global Trade Solution. Wiese had been carrying the cash in his personal hand luggage while attempting to board a flight from England to Luxembourg. Shoprite CEO’s dilemma: How much change is enough? Follow me on Twitter @MfonobongNsehe, © 2021 Forbes Media LLC. There are 29 African billionaires this year, up from 20 just a year ago. Average market values and profits dropped but China continued to catch up to the U.S., and high profile companies including Zoom and Slack broke into the ranks for the first time. It operates through the following segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other. Surging annual profit at Nestle has helped the water and chocolate giant take back the title of the's world's largest food company—a title it held for a decade before Anheuser-Busch InBev temporarily dethroned it last year. Lafarge gains N111.1 billion on NSE in 14 trading sessions. It’s the best place to invest.”. (Photo: Halden Krog / Bloomberg via Getty Images) One of the few constants in life is change — except at Shoprite, it would seem. The Supermarkets Non-RSA consists of retail operations under the Shoprite, Checkers, Checkers Hyper, Usave, and Hungry Lion brands outside of South Africa. Saker ShopRites is one of the highest average volume per store supermarket chains in the country, employing nearly 9,000 associates. South African billionaire, Christo Wiese, Executive chairman of Pepkor- South Africa’s largest discount clothing retailer, has revealed plans to open new outlets for the low-cost clothier in Nigeria, Bloomberg has reported. The group owns a diverse portfolio of retail outlets centered on the low-price market, primarily selling textiles, clothing and footwear. The group has some 2,800 stores and employs almost 28,000 people. Dr Anna Mokgokong (63) Johan Basson (69) Alice le Roux (46) Joseph Rock (51) × NON … When Wiese went to Zambia in the early 1990s to open up a clothing store, he discovered that clothing was sold on the street pavement by hawkers. Our Directors. ... United Capital Plc CEO purchases additional 1.5 million shares worth N8.03 million. Contact Us. Report here. The board appointed Pieter Engelbrecht (born c. 1970), the former Chief Operating Officer, as the incoming CEO as of 1 January 2017. He is widely acknowledged as one of the richest men in Africa today. Wendy Lucas-Bull (67) Chairman. Former billionaire Christo Wiese will step down as chairman of Shoprite, Africa’s largest grocer, next year, according to a statement issued by the company. Africa has been called dark and hopeless, but today it is neither of these. 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