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While reports suggest that consumer confidence has declined in South African retail, the recent international interest in South African retail and logistics paints a completely different picture
(Growth Slows in South Africa’s Retail Sector as Consumer Confidence Declines)
A leading home appliances manufacturer in Southern Africa, the Defy Appliances brand, has recently entered in an agreement last week to be acquired by Turkey’s Arcelik Group (Turkey's Arcelik Group acquires Defy). Arcelik Group belongs to the largest conglomerate in Turkey and s listed as the only Turkish company on the Fortune Global 500 list
On the other side of the globe Brazil is showing increased interest in the South African food industry. Brazil is one of the World’s biggest poultry exporters (World's biggest poultry exporter shows commitment to SA trade partnership) and exports large amounts of poultry to South Africa.: “Of the poultry imported to supplement demand in South Africa, Brazilian poultry accounts for 73% with the balance being supplied by countries that include Argentina, Canada and England.”
International investors are also showing interest in the South African logistics and distribution industry in that Lonhro has recently bought Grindod PCA. “Grindrod PCA is a leading exporter of fruit, vegetables and fish from Southern Africa to the global market. It operates international standard cold store and logistics facilities in Johannesburg, Cape Town, Port Elizabeth and George.” (Lonhro buys Grindrod's food exporter).
A recent report compiled by Deloitte Touche Tohmats suggests that South African food retailers, in particular, are large when compared to retailers in other countries around the World: (2011 Biggest Global Retail Companies in South Africa - Largest African Retailers) .
This, coupled with the recent acquisitions in the South African retail industry by international investors, means that it’s only time before other foreign investors will make their mark, not to mention the pending and much debated deal between Walmart and Massmart.
What are your thoughts on international interest in South African retail and logistics? Post your comments on our Facebook page, .
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