• Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

All data is delayed
See More

PnP ups stake in Zimbabwe chain

Dec 02 2011 11:31

Company Data


Last traded 67
Change 0
% Change 0
Cumulative volume 938373
Market cap 0

Last Updated: 25-11-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA


Last traded 116
Change 1
% Change 1
Cumulative volume 83786
Market cap 0

Last Updated: 25-11-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Pick n Pay backs down on job cuts

Pick n Pay earnings fall short

Court overturns Pick n Pay sale hurdle

Cosatu to strike over Walmart

Pick n Pay warns of profit slump

Pick n Pay concludes Franklins sale


Harare - Zimbabwe's competition regulator approved Pick n Pay Stores [JSE:PIK] plans to raise its stake in that country’s biggest grocery merchant, a $13m deal that forms part of the South African food retailer’s expansion plans across the continent.

Under the deal, Cape Town-based Pick n Pay would raise its shareholding in TM Supermarkets from 25% to 49%, TM Supermarkets parent company Meikles Limited said in a statement on Friday.

The investment had been approved mid-year by Zimbabwe’s central bank and empowerment ministry but the Competition and Tariff Commission was yet to give its nod.

Zimbabwe’s government is pressing foreign-owned companies, including mines and banks, to transfer at least 51% shares to blacks under an empowerment programme that has caused unease among foreign investors.

Some of the stores of TM Supermarkets - Zimbabwe's largest grocery retailer - would be rebranded Pick n Pay under the deal.

Cape Town-based Pick n Pay is pulling out of Australia to focus on expansion closer to home and fend off competition from US retailer Walmart, which recently bought control of South African merchant Massmart Holdings [JSE:MSM].

pick n pay stores  |  retailers


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote