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Shoprite Holdings, owners of Shoprite stores, is listed on the Johannesburg Stock Exchange, with secondary listings on the Namibian (Namibian SE:SRH) and Zambian Stock Exchanges. Shoprite operates in 17 countries across Africa, the Indian Ocean islands and southern Asia, and expects to start operating in the Democratic Republic of Congo, as well as to open more stores in Angola and Ghana. Shoprite is the fifth largest company listed on the Namibian exchange, and is up 18.92% YTD. “The continent will produce excellent results over the long term. Our number of stores and geographic spread across Africa are well positioned for future growth,” its CEO Whitey Basson said. Analysts agree. “Africa is where Shoprite’s next growth will come from because it has first-entrance advantage over any retailer in Africa over 10 years,” said Absa Asset Management Private Clients analyst Christopher Gilmour. “These guys have paid their dues. . .operating in this continent, and know it like clockwork.”
Namibia’s market as a whole, by the way, has fared quite nicely of late. Emerginvest.com reports a 4.74% jump in the last month, including a 8.79% return in the last week alone. That positions Namibia as the 5th best returning country in the world for the month.