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Cape Town - The Shoprite Group is not interested in OK Zimbabwe.
Shoprite made this announcement on Monday following media speculation in recent weeks that the group is putting out feelers towards OK Zimbabwe.
Marketing director Brian Weyers says because of the uncertain socio-economic and political conditions in Zimbabwe the group has decided not to exploit any further investment opportunities there, in either the short or the medium term.
Shoprite currently has a single store in South Africa's nothern neighbour.
The group is the biggest retailer in Africa, trading in 17 countries through 1 343 stores.
Until June next year 85 new stores outside South Africa's borders are being planned.
Weyers told Sake24 several of these will be in West Africa.
"We have already resolved the logistical problems there. It's easy for us to expand there and earn a return on investment."
In the financial year to end-June Shoprite's foreign stores, mainly Shoprite and Usave shops, have performed well and grown turnover 39.9%. These stores now contribute 13.6% to group turnover.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.