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Whitey Basson
James Wellwood ‘Whitey’ Basson (born 8 January 1946) is a South African businessman and billionaire who was largely responsible for growing a small business called Shoprite from an 8-store chain valued at R1 million into an international retail conglomerate with revenue in 2019 of R150 billion, market capitalisation of R114 billion, more than 2 300 stores and 140 000 employees across 15 African countries. Deloitte's Global Powers of Retailing 2019 ranked The Shoprite Group as the 86th largest retailer in the world. Basson retired as the Managing Director and Chief Executive of Shoprite Holdings Ltd on 31 December 2016. Early life Basson was born on 8 January 1946 on the family farm Dasbosch in the Porterville, Western Cape district to Jack and Maude Basson. He was one of three children. When asked in an interview with Bruce Whitfield about the origin of his nickname, "Whitey", Basson said that his given names, James Wellwood, "came from a Scottish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Porterville, Western Cape
Porterville is a town in the Western Cape province of South Africa. The town is located at the foot of the Olifants River Mountains, 27 km south-east of Piketberg and 155 km north-east of Cape Town. It is situated 140 km north of Cape Town on R44 road at the base of the Olifants River mountains. The Dasklip Pass to the surrounding Groot Winterhoek mountains is located 14 km outside of the town. The Soom Shale, a notable deposit of Late Ordovician era fossils, is located near the town. Agriculture in the area is dominated by wheat production. The closest towns are Piketberg to the west, Saron to the south, and Eendekuil and Citrusdal to the north. History Prior to European settlement the area was inhabited by Khoekhoen nomadic pastoralists. The town was laid out in 1863 on Pomona's farm, previously owned by Willems Vallei. The town was established in 1863 and named after William Porter, who served as Attorney General of the Cape Colony from 1839 to 1866, and bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deloitte
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY (Ernst & Young), KPMG and PricewaterhouseCoopers (PWC). The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Holding Company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies to form a corporate group. In some jurisdictions around the world, holding companies are called parent companies, which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders, and can permit the ownership and control of a number of different companies. ''The New York Times'' also refers to the term as ''parent holding company.'' Holding companies are also created to hold assets such as intellectual property or trade secrets, that are protected from the operating company. That creates a smaller risk when it comes to Lawsuit, litigation. In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Takeover
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public company is bought by the private company through an asset swap and share issue. The transaction typically requires reorganization of capitalization of the acquiring company. Process In a reverse takeover, shareholders of the private company purchase control of the public shell company/ SPAC and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. The transaction can be accomplished within weeks. The transaction involves the private and shell company exchanging information on each other, neg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sanlam
Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam. The group's areas of expertise include insurance (life and general), financial planning, retirement annuities, trusts, wills, short-term insurance, asset management, risk management and capital market activities, investment and wealth. The group operates in South Africa, Namibia, Botswana, Swaziland, Zimbabwe, Mauritius, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, Ghana, Nigeria, Mozambique, India, Malaysia and the UK, and has business interests in the US, Australia, Burund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Western Cape
The Western Cape is a province of South Africa, situated on the south-western coast of the country. It is the fourth largest of the nine provinces with an area of , and the third most populous, with an estimated 7 million inhabitants in 2020. About two-thirds of these inhabitants live in the metropolitan area of Cape Town, which is also the provincial capital. The Western Cape was created in 1994 from part of the former Cape Province. The two largest cities are Cape Town and George. Geography The Western Cape Province is roughly L-shaped, extending north and east from the Cape of Good Hope, in the southwestern corner of South Africa. It stretches about northwards along the Atlantic coast and about eastwards along the South African south coast (Southern Indian Ocean). It is bordered on the north by the Northern Cape and on the east by the Eastern Cape. The total land area of the province is , about 10.6% of the country's total. It is roughly the size of England or the S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees A fee is the price one pays as remuneration for rights or services. Fees usually allow for overhead (business), overhead, wages, costs, and Profit (accounting), markup. Traditionally, professionals in the United Kingdom (and previously the Repu .... This definition is based on International Accounting Standard, IAS 18. "Revenue" may refer to income in general, or it may refer to the amount, in a monetary unit, earned during a period of time, as in "Last year, Company X had revenue of $42 million". Profit (accounting), Profits or net income generally imply total revenue minus total expenses in a given period. In accountancy, accounting, in the balance statement, revenue is a subsection of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Checkers (supermarket Chain)
Checkers is a FMCG retailer owned by Shoprite that operates in Southern Africa. Checkers currently has 37 Checkers Hypers and 202 Checkers supermarkets operating in Botswana, South Africa and Namibia. The supermarket chain focuses more strongly on fresh produce and offers a wider range of choice food items to a more affluent clientele (LSM In molecular biology, LSm proteins are a family of RNA-binding proteins found in virtually every cellular organism. LSm is a contraction of 'like Sm', because the first identified members of the LSm protein family were the Sm proteins. LSm pr ... 8-10). Norman Herber, the chair of Greatermans department stores, was the founder of Checkers. The firm was later expanded and made successful by Raymond Ackerman. The Checkers supermarket chain is part of the Shoprite Group. Store Types * Checkers: Supermarkets which are being constantly improved and aligned to healthy eating and cleaner living. * Checkers Hyper: Larger format store with a w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OK Bazaars
OK Bazaars is one of the oldest retail shops in South Africa, established in 1927 by partners Michael Miller and Sam Cohen still in existence today. The first shop opened in corner President and Eloff streets in Johannesburg and over the years the brand grew to have more than 100 shops around South Africa. OK Bazaars and Garlick's were the two, two-story department stores anchoring the original shopping levels of the Carlton Centre The Carlton Centre is a 50-storey skyscraper and shopping centre located on Commissioner Street in central Johannesburg, South Africa. At , it is the third tallest building in Africa after The Leonardo, also in Johannesburg, and the Iconic To ..., at the time the tallest building in Africa. OK Bazaars was financially strained and was acquired by the Shoprite group. References Retail companies of South Africa Economy of Johannesburg Heritage Buildings in Johannesburg {{Retail-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mpumalanga
Mpumalanga () is a province of South Africa. The name means "East", or literally "The Place Where the Sun Rises" in the Swazi, Xhosa, Ndebele and Zulu languages. Mpumalanga lies in eastern South Africa, bordering Eswatini and Mozambique. It constitutes 6.5% of South Africa's land area. It shares borders with the South African provinces of Limpopo to the north, Gauteng to the west, the Free State to the southwest, and KwaZulu-Natal to the south. The capital is Mbombela. Mpumalanga was formed in 1994, when the area that was the Eastern Transvaal was merged with the former bantustans KaNgwane, KwaNdebele and parts of Lebowa and Gazankulu. Although the contemporary borders of the province were only formed at the end of apartheid, the region and its surroundings has a history that extends back thousands of years. Much of its history, and current significance is as a region of trade. History Precolonial Era Archeological sites in the Mpumalanga region indicate settlement b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North West (South African Province)
North West is a province of South Africa. Its capital is Mahikeng. The province is located to the west of the major population centre of Gauteng and south of Botswana. History North West was incorporated after the end of Apartheid in 1994, and includes parts of the former Transvaal Province and Cape Province, as well as most of the former bantustan of Bophuthatswana. It was the scene of political violence in Khutsong, Merafong City Local Municipality in 2006 and 2007, after cross-province municipalities were abolished and Merafong Municipality was transferred entirely to North West. Merafong has since been transferred to Gauteng province in 2009. This province is the birthplace of prominent political figures: Lucas Mangope, Moses Kotane, Ahmed Kathrada, Abram Onkgopotse Tiro, Ruth Mompati, J. B. Marks, Aziz Pahad, Essop Pahad and others. Law and government The provincial government consists of a premier, an executive council of ten ministers, and a legislature. The provincia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pick N Pay Stores
The Pick n Pay Group is a retail business in the fast-moving consumer goods industry. The Group operates through multiple store formats under three brands – Pick n Pay, Boxer and TM Supermarkets. Pick n Pay also operates one of the largest online grocery platforms in sub-Saharan Africa. Raymond Ackerman purchased the first four Pick n Pay stores in Cape Town, South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ..., in 1967 from Jack Goldin. Since then, the Group has grown to encompass stores across South Africa, Namibia, Botswana, Zambia, Nigeria, eSwatini, Eswatini and Lesotho. Pick n Pay also owns a 49% share of Zimbabwean supermarket chain, TM Supermarkets. As of 2021, the company was operating at 1,994 locations across eight countries on the Africa, African contin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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