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THE BUSINESS UPDATE
JANUARY 2023
Shoprite launches new private label to boost local brands
Staff Writer Businesstech
South Africa’s largest retailer Shoprite is introducing an exclusive private-label product range sourced from local small, medium and micro enterprises (SMMEs).
Shoprite said that the new Homegrown label creates numerous
opportunities for emerging businesses to thrive in retail. With access to Shoprite’s 534 supermarkets nationwide, SMMEs can get their products onto shelves, increase turnover, and create additional jobs for their local community.
This follows the launch of Shoprite Next Capital in 2022, a business division dedicated to giving small suppliers access to its customer market.
“Homegrown” refers to the products within the new private label being 100% produced in South Africa by local businesses. The product range includes South African favourites such as candy, tomato sauce, popcorn, chutney and biscuits.
The new range also allows consumers to buy a more quality range at Shoprite stores without compromising their budget. The following SMMEs are part of the initial range of Homegrown products launching in stores:
- Wonder Snacks: A family-owned and operated business that makes popcorn. It has grown its staff by over one-third as part of Homegrown.
- Khayelitsha Cookies: A Cape Town baking business with 87
employees devoted to empowering women. Its range
includes several types of cookies. - Exotic Taste: Started in 2006, the company makes mango
and vegetable atchars. Being part of Homegrown has allowed the business to employ more than 30 people. - Le Bon Bon: A snack foods and confectionery manufacturer started in Cape Town in 2012. It has 200 employees across several divisions and focuses on price points and innovation.
- Gordon Sweets: A family-run confectionary with 30 years of
experience. The company employs approximately 50 staff in Cape Town.
All products in the new label are MSG-free, Tartrazine and Azo Dye free and made with sustainable palm oil. Shoprite said that the range will continue to grow as new products and suppliers are added.
South Africa has been placed on Financial Action Task Force (FATF) grey list because it does not have sufficient mechanisms in place to monitor and combat money laundering and terrorist financing activities. The country undertook to work with the FATF to identify strategies and time frames to improve its monitoring mechanisms.
Disney has announced plans to cut 7,000 jobs and $5.5bn in costs after reporting its first ever drop in subscriber numbers. The job cuts represent just over 3% of Disney's global workforce of around 220,000. The US giant lost 2.4m Disney+ subscribers in the final 3 months of 2022, taking the total to 161.8m
After losing nearly $14 billion in 2022 on the metaverse, Mark Zuckerberg is launching a team at Meta to develop AI products following the popularity of OpenAl's ChatGPT's. Mark Zuckerberg said Meta will be creating a new "top-level product group" focused on generative AI.
The Gauteng health department says it is concerned about the increasing number of unidentified and unclaimed bodies at Forensic Pathology Service (FPS). The department said that over 900 bodies were still unclaimed across Gauteng’s mortuaries. The Gauteng Health and Wellness MEC said that should a body remain unidentified for 30 days after exhausting means of identification, the pauper burial process will be implemented.
Despite teacher shortages at schools nationwide, almost 1,400 new governmentfunded teaching graduates have not been placed across the nation’s schools. KwaZulu Natal was the worst offender and only managed to place 277 out of just under 700 recipients of the Funza Lushaka bursary. The Eastern Cape only found employment for 393 of the roughly 700 teacher graduates, while Mpumalanga found schools for 228 out of the 417 teacher graduates.
These are the richest cities and suburbs in South Africa
- Johannesburg: 14 600 millionaires, 30 centi-millonaires, 2 billionaires
- Cape Town: 7 200 millionaires, 26 centi-millonaires, 1 billionaire
- Durban: 3 600 millionaires, 10 centi-millionaires
- Cape Winelands: 3 400 millionaires, 15 centi-millionaires, 2 billionaires
- Pretoria: 2 400 millionaires, 2 centri-millonaires
- The Whale Coast: 1 100 millionaires, 5 centi-millionaires
How much it costs to get a ‘golden visa’ in Australia, Canada, Ireland, the UK and the USA
Australia
Investment: AUD 2,500,000 (R30,000,000)
Processing time: 12 months
Key benefit: Roughly five years to get citizenship
Canada
Investment: Creative start-up business
Processing time: 12-31 months
Key benefit: Eligibility for citizenship after three years of physical presence over a five-year period
Cyprus
Investment: EUR 300,000 (R5,950,000)
Processing time: Two to 18 months
Key benefit: The right to live and study in Cyprus
Hong Kong
Investment: Must complete a points-based test under
the Quality Migrant Admission Scheme.
Processing time: Four to eight months
Key benefit: Eligible to become a permanent residence in seven years
Ireland
Investment: Eur 500,000 (R9,935,000)
Processing time: 9 to 12 months
Key benefit: Free movement in the Common travel area
New Zealand
Investment: NZD 5,000,000 (R56,000,000)
Processing time: Eight to nine months
Key benefit: Eligible for citizenship after five years of residence
Switzerland
Investment: Minimum annual taxes of CHF 250,000 (R5,000,000)
Processing time: Three to six months
Key benefit: Right to live and study in Switzerland
The United Kingdom
Investment: GDP 50,000 (R1,100,0000)
Processing time: One to eight weeks
Key benefit: The right to live, work, and study in the UK
The United States of America
Investment: USD 800,000 (R14,000,000)
Processing time: (30-36 months)
Key benefit: Citizenship after five years of residence
United Arab Emirates
Investment: AED 2,000,000 (R9,900,000)
Processing time: Eight weeks
Key benefit: Right to live in any of the seven mirates in the UAE
Thailand
Investment: THB 600,000 (R325,000)
Processing time: Two to three months
Key benefit: Long-term, privileged multiple-entry permit.
Spain
Investment: EUR 500,000 (R9,900,000)
Processing time: 20 days
Key benefit: Free movement to EU and Schengen area