Our Inputs

Financial capital

Our capital inputs include a strong and healthy balance sheet, funding from equity and debt, and the earnings we generate and retain. We use these to fund our business activities in line with our strategy, transform our business through investments and continuously improve our customer and employee offering.

Intellectual capital

Our 16 distinct brands and 4 171 private labels, 40 years of know-how, corporate reputation and goodwill, and information assets. In 2019, we substantively enhanced our intellectual capital by implementing our enterprise-wide system, adding to a strong intellectual portfolio through our established brands and popular private labels for customers in all income segments.

Human capital

Our 147 268 talented, energised and dedicated employees across 15 countries. We invest in our people to develop their skills and careers. Through our revised HR strategy, we are committed to developing a pipeline of talent to ensure career growth and business sustainability.

Manufactured capital

Our supply chain, including 2 799 stores, 30 distribution centres, 837 trucks and 1 211 trailers in our fleet. Our physical infrastructure spans a range of store formats, from large hypermarkets to small box containers, as appropriate for our context and customers. Our integrated, efficient supply chain is unrivalled in Africa.

Natural capital

The water and energy we use in our operations and supply chain. We are committed to reducing our environmental footprint through increasing water and energy efficiency, reducing waste, and using our size to effect positive change where possible.

Social capital

Our relationships with stakeholders, including the communities in which we operate, and key partnerships. These include Gift of the Givers, Food & Trees for Africa, FoodForward and the Lunchbox Fund for community work, Empowerment Capital to support small suppliers, and the Consumer Goods Council to communicate effectively with governments and regional bodies.

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Our Value Creating Business Model

Sourcing and developing products and services.
Running and effective, efficient supply chain.
Operating a lean coststructure increasingly
support by integrated
Maintaining beloved brands.
Delivering through
service to meet customers'
Developing people and careers
Uplifting communities and building economies.

Our Outputs

Our extensive range of products and services that serve our customer needs, and related by-products including production waste.

Our Outcomes


  • Sales of R150.4 billion (3.6% growth).
  • Trading profit of R6.9 billion (-14.3% growth).
  • Return on invested capital of 11.0%.


  • 6 new private label brands and 1 251 new products within private labels.
  • 16 000 concurrent users in enterprise-wide system.


  • 3 494 949 hours of internal training and development.


  • 126 net new stores opened.
  • 36 new trucks.


  • Installed 280 water-saving devices across the Western Cape, reducing annual water consumption by 408 million litres.
  • About 55% of packaging used for fresh fruit and vegetables is widely recyclable in South Africa.
  • Recycled 3 995 tons of plastic and 33 658 tons of cardboard and white paper.
  • Sustainable procurement policy for fish and marine products.


  • 3 175 net new jobs created.
  • Tax contributions totalling R6.2 billion.
  • R35.6 million spent on corporate social investment programmes.
  • Developed 85 early childhood development centres with teacher training and infrastructure.
  • Delivered 221 tons of surplus food and 4.2 million meals through mobile soup kitchens and to early childhood development centres.
  • Established 39 community gardens.
  • Partnered with Empowerment Capital to support two small suppliers.
  • Provided access to market for 2 366 small local suppliers.