Company News in Brief

NIDA, NAFAU reach wage agreementThe Namibia Industrial Development Agency (NIDA) and the Namibia Food and Allied Workers Union (NAFAU), with the support of the ministry of industrialisation successfully concluded a settlement agreement addressing employee remuneration and conditions of employment for the 2024/2025 and 2025/2026 financial years.Both parties have now reached a full and final settlement, ensuring labour stability and continuity of operations. This settlement ensures fair and improved working conditions foremployees while maintaining operational efficiency and fostering industrial harmony. NIDA remains committed to spearheading the industrialisation agenda for Namibia. -Market Watch South African retailer Shoprite earnings rise on festive, Easter demandShoprite Holdings reported a 15.8% rise in full-year earnings on Tuesday, as customers stocked up on food during the festive and Easter seasons. Shoprite said diluted headline earnings per share from continuing operations rose to 13.67 rand in the year through June 29, up from a restated 11.80 rand a year earlier. Group sales from continuing operations grew 8.6% to 252.7 billion rand ($14.39 billion), as the retailer’s core business, Supermarkets South Africa, achieved sales growth of 9.5%, with like-for-like sales growth of 4.8%.The sales growth in Supermarkets South Africa was supported by volume growth, with customer visits up 4.4% and an average basket-spend increase of 4.8%, Pieter Engelbrecht, the group CEO, said in a statement.Shoprite and Usave, the group’s discounters, increased sales by 5.9%, while sales at its upmarket Checkers chain surged 13.8%.Engelbrecht said Shoprite kept selling inflation below 2%, with promotional activity in the reporting period higher than in 2024, to help shield financially constrained customers.The supermarket business in the rest of Africa - operating in seven countries after the group announced plans to sell its Ghana and Malawi stores - saw a 6.4% increase in sales.– REUTERS

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