finweek

COVER STORY | Listed grocery retailers pick up the pieces – and maybe more market share

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article

The more information regarding the coordination and organisation of planned attacks on civil infrastructure comes to light, the more the looting and unrest encouraged by individuals politically connected with former president Jacob Zuma seem to have scored an own goal.

If the exponents of radical economic transformation intended to attack so-called white minority capital to create the desired spectacle, the owners of the listed grocery retailers whose assets were pillaged will recover quickly and relatively easily – leaving smaller, independent and largely black-owned businesses that were indiscriminately looted struggling to reopen.

Vuka Chonco, deputy general secretary of the Food & Allied Workers Union, says the union is still – some weeks after what is now being labelled a failed insurrection – not in a position to accurately quantify the fallout from the unrest. “We’re still counting the lost jobs and livelihoods. It will take a while for that to filter through from workers who will lose out.”

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.67
+0.9%
Rand - Pound
20.05
+0.6%
Rand - Euro
17.20
+0.7%
Rand - Aus dollar
10.67
+0.5%
Rand - Yen
0.13
+1.0%
Gold
1,768.71
+0.0%
Silver
22.76
+0.3%
Palladium
2,060.60
+1.6%
Platinum
1,010.50
+0.9%
Brent Crude
76.19
+2.5%
Top 40
57,453
+0.9%
All Share
63,848
+0.8%
Resource 10
57,281
+0.6%
Industrial 25
82,486
+1.2%
Financial 15
14,226
+0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
What potential restrictions on unvaccinated South Africans may make the biggest difference to public health, the economy?
Please select an option Oops! Something went wrong, please try again later.
Results
Limited access to restaurants and bars
11% - 121 votes
Limited access to shopping centres
14% - 158 votes
Limited access to live events, including sport matches and festivals
26% - 290 votes
Workplace vaccine mandates
48% - 528 votes
Vote