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Shoprite targets DR Congo.



Shoprite, the supermarket group headquartered in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , is to invest $80m to build two new supermarket complexes in DR Congo. Shoprite is the largest supermarket group on the African continent and currently operates nearly 1,200 outlets in 17 countries across Africa, the Indian Ocean Indian Ocean, third largest ocean, c.28,350,000 sq mi (73,427,000 sq km), extending from S Asia to Antarctica and from E Africa to SE Australia; it is c.4,000 mi (6,400 km) wide at the equator. It constitutes about 20% of the world's total ocean area.  Islands and southern Asia. The company, listed on the Johannesburg Stock Exchange Johannesburg Stock Exchange (JSE)

Established in 1886, the Johannesburg Stock Exchange is the only stock exchange in South Africa. Gold and mining stocks form the majority of shares listed.
, reported a turnover of R38.95bn ($5.45bn) for the year to June 2007.

The two new supermarkets will be built in Lubumbashi and Kinshasa. The company has plans to roll-out new stores across the DR Congo and has pledged to stimulate local manufacturing and agricultural sectors to supply the new stores and eventually to produce goods and commodities for export to surrounding sur·round  
tr.v. sur·round·ed, sur·round·ing, sur·rounds
1. To extend on all sides of simultaneously; encircle.

2. To enclose or confine on all sides so as to bar escape or outside communication.

n.
 countries. Each Shoprite supermarket will provide employment for approximately 150 permanent staff and create at least 50 jobs indirectly.
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Title Annotation:Commerce
Publication:African Business
Article Type:Brief article
Geographic Code:6SOUT
Date:Feb 1, 2008
Words:140
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