New pioneer complex in Mozambique

SHOPRITE is expanding its African footprint and is to open a new outlet in Tete, Mozambique, with the aim of capitalising on booming investments and economic growth in the country. Shoprite is strengthening its presence across Africa and earlier this month said it was not leaving Uganda. The retailer already operates in about 14 countries on the continent and this week reported that full-year earnings had risen by as much as 10 percent, with diluted headline earnings per share rising to nearly 773c. Property developers in Africa say retailers expanding into the region are providing them with opportunities. Terrace Africa, the developer for the shopping complex that Shoprite would occupy in Mozambique, said yesterday that it was seeking expansion in Zimbabwe, Zambia and Mozambique, where interest for space is firm. “We are thrilled to bring this new (Shoprite) shopping experience to Tete. The project has already provided jobs to the local community and we are confident that it will encourage further investment in the town,” said Sean Oberholzer, the development manager for Terrace Africa. Mozambique is already in the advanced planning stages of developing a new coal fired power station in Tete, which has a population of about 250 000. In Mozambique’s Tete area, Shoprite is set to devote its new outlet to a wide range of “groceries and fresh produce as well as a bakery, deli, butchery and liquor offering”. The complex would also house other retailers offering clothing, furniture and other goods, said Oberholzer. – Tawanda Karombo