WeeklySA_AdminRole: Informal sector plays an important role
By Isaac Moledi
Shoprite has once again stepped up its annual 2021 Shoprite Hustle small business competition to encourage and boost entrepreneurs to grow their businesses.
More than R1 million in prizes are up for grabs to celebrate established and promising small business owners. About 20 winners will each receive R50 000 in cash, a laptop, digital and social media support and access to Startup Circles’ business programme to the value of R30 000 to help grow his or her own business.
“Simply tell us about your small business and who knows – you could receive an R80 000 boost and become one of our winning Hustler entrepreneurs,” says Shoprite. The company says it recognises the critical role the more than 2 million small, medium and micro enterprises – many of which are in the informal sector – play in growing the country’s economic future. To qualify for entry and stand a chance to win, Shoprite says you must meet the following criteria:
– You must be 18 years or older and a citizen or permanent resident of South Africa.
– Your business must be in operation for at least 6 months.
To apply, which is strictly online, individuals must submit the following documents with their entry:
– A certified copy of a South African identity document or valid passport
– Proof of bank account details not older than 3 months;
– Three or more high-quality of your photos and business.
Shoprite says any entry that does not meet all criteria will be disqualified. Entries must reach the company’s office by 19 September 2021, and winners will be announced between 27 September and 31 October 2021. Shoprite said its past Hustle winners included small businesses from various sectors including fashion, agriculture, education, beauty, green energy and tourism.
Meanwhile, Shoprite, which is Africa’s largest retailer, is expected to increase its net asset value after Massmart announced that it will offload its loss-making fresh-food assets to it for R1.36bn. The cash deal assets will include the sale of Massmart’s Cambridge Foods, Rhino and Massfresh brands, as well as 12 Cash & Carry stores. The share price of Africa’s largest food retailer topped a 52-week high on Monday, with the stock gaining almost 4, 5% on the back of a very strong trading update of its SA operations.
The company, which said it was rethinking its African presence due to currency volatility and some struggles in some markets, signalled this week that it was exiting its Uganda and Madgascar operations to focus primarily on South Africa.
The group is already leaving Nigeria and Kenya.Shoprite has been trading in the rest of Africa since 1990.
