Star 2025-05-13

JSE-listed Boxer Retail added nearly 3 000 new jobs in the 53 weeks to March 2 after it opened more than 40 new stores and met the financial forecasts it had made to its investors on the JSE months ago. The soft discount retailer added 48 net new stores during the period, bringing its store network across South Africa and Eswatini to 525. The plan is to open another 60 stores—25 superstores and 35 liquor stores—in the new financial year. Additionally, there are plans to expand the distribution centre capacity for the stores, particularly in northern KwaZulu-Natal, CEO Marek Masojada said in an interview with BR. The additional employees brought its full staff complement to close to 32 000 and demonstrated the retailer’s growth, and its efforts to uplift the…

Farming associations on Monday expressed concern about the impact of Foot and Mouth disease (FMD) outbreak on the red meat export industry. This comes as the People’s Republic of China has already suspended imports of cloven hoofed animals and related products following Foot and Mouth Disease outbreaks in KwaZulu-Natal, Mpumalanga and Gauteng. The Department of Agriculture on Saturday confirmed an outbreak of FMD in the province of Mpumalanga and new cases in KwaZulu-Natal. Wandile Sihlobo, chief economist at the Agricultural Business Chamber of South Africa (Agbiz), on Monday said that the livestock and poultry industries accounted for nearly half of South Africa’s agricultural economy. “Because of this large size, we worry about the sector when these industries encounter challenges. One of the persistent challenges of the South African livestock industry…

More than 1 000 people fell ill due to the listeriosis outbreak that killed around 200 others Tiger Brands, which is expecting stronger headline earnings per share for half year to March 2025, will make settlement offers to claimants affected by an outbreak of listeriosis that emanated from a subsisdiary of the company in Polokwane between 2017 and 2018. The company has been scrambling for a way to settle the issue. It said on Monday that the settlement offer it was undertaking “is a significant step towards resolution of the listeriosis” class action. It confirmed that attorneys representing the company’s lead reinsurer, QBE Insurance Group, had presented the settlement offer to the claimants’ attorneys as part of a road-map to a possible overall resolution of the listeriosis class action. More…

The Public Investment Corporation (PIC) said on Monday that it was considering various options to bring stability to the embattled State-funded poultry producer, Daybreak Foods. This comes as the PIC is engaged in ongoing talks with the Daybreak board of directors in the aftermath of a split that has seen the board chairperson leave reportedly after securing a R625 000 sitting allowance package. This is as the PIC over the weekend allocated a requested further R74 million to Daybreak, initially earmarked for capital expenditure, in a bid to address the company’s immediate liquidity needs, which includes outstanding salaries for employees for the month of April 2025, feed supplies and specific essential operational expenses. The PIC charged that the board and management of Daybreak Foods remained responsible and accountable for the…

Calgro M3’s robust development pipeline is helping to address South Africa’s serious housing shortage, but more needs to be done to lower the barriers to entry in the affordable housing sector, said the group CEO Ben Pierre Malherbe. He was interviewed at the release on Monday of the integrated development and memorial park group's annual results for the year to February 28, which showed it had maintained profit margin growth, continued to expand in both business segments, and all in spite of revenue pressures and a decision to temporarily slow production in the first half. The group had 36 000 residential opportunities secured at the end of the financial year, he said. The pipeline includes the newly acquired Bankenveld District City Development near Sandton, which will add in excess of…

Balwin Properties, a prominent developer known for its environmentally efficient and affordable apartment estates, has announced a remarkable rebound in property sales during the latter half of its financial year. Following the commencement of a new interest rate cutting cycle, which has seen rates reduced by a total of 75 basis points since September 2024, the company reported substantial improvements in trading conditions. In the six-month period leading up to February 28, the company recognised revenue from the sale of 1 109 apartments, a significant increase of 73% compared to just 640 units sold in the first half. Additionally, pre-sales surged, with 814 apartments being contracted for future financial periods, up from 520 the previous year. Group CEO Steve Brookes attributed this increase to heightened buyer interest driven by the…