At a Glance
- South African chains dominate valuations while expanding aggressively across sub-Saharan African consumer markets.
- Morocco’s Label’Vie benefits from rising middle-class demand and structured modern food retail.
- Listed supermarkets support jobs, suppliers and food security as urbanisation boosts formal retail penetration.
Africa’s biggest listed supermarkets have evolved from small family-run grocery stores into dominant retail groups worth billions of dollars.
As of Jan. 23, 2026, the continent’s leading supermarket chains command a combined market value of about $17 billion, underscoring their growing influence on Africa’s consumer economy.
South Africa remains the nerve centre of Africa’s listed supermarket industry, hosting four of the continent’s most valuable grocery retailers.
These companies have expanded by formalising food retail, investing heavily in logistics, and rolling out large store networks to serve fast-growing urban populations.
Beyond South Africa, North Africa is emerging as a key growth frontier. Morocco’s Label’Vie has positioned itself as a major beneficiary of rising middle-class consumption and demand for structured retail formats.
Together, these supermarket groups play a vital role in employment, supplier development, and food security, while positioning for long-term growth as urbanisation deepens across Africa.
Below are five of Africa’s biggest listed supermarkets profiled by Shore Africa, each with a market valuation exceeding $1 billion as of Jan. 23, 2026.
1. Shoprite Holdings (South Africa)
Market Cap. as of Jan. 23 2026: R164 billion ($9.74 billion)
Shoprite remains the continent’s largest supermarket group, operating more than 2,800 stores as of early 2025. South Africa remains its main market, but it also has a presence in approximately 10 other countries. Shoprite is betting heavily on its “Sixty60” delivery app and expanding into non-food categories such as baby goods and pet products. Shoprite Holdings Ltd is currently the 23rd most valuable stock on the South African bourse, with a market capitalisation of R164 billion ($9.74 billion), which accounts for approximately 0.659 per cent of the Johannesburg Stock Exchange’s equity market.
2. Woolworths (South Africa)
Market Cap. as of Jan. 23 2026: $3.58 billion
Woolworths has carved out a premium position, emphasizing quality and sustainability across food, clothing, and household goods. While its store count is smaller, its appeal among wealthier shoppers is strong. Woolworths Holdings Ltd is currently the 47th most valuable stock on the South African bourse with a market capitalization of R58.2 billion ($3.58 billion), which makes about 0.242 percent of the Johannesburg Stock Exchange equity market.
3. Label’Vie SA
Market Cap. as of Jan. 23 2026: $1.36 nillion
Label’Vie SA engages in operating supermarkets under the Carrefour Market LabelVie brand. It offers food, furniture, children’s toys, electrical appliances, and gardening tools. It operates through the following segments: Supermarkets, Hypermarkets, and Hyper-Cash. The company was founded by Zouhaïr Bennani and Rachid Hadni on October 16, 1985 and is headquartered in Rabat, Morocco. Label’Vie SA is currently the 19th most valuable stock on the Casablanca bourse with a market capitalization of MAD12.45 billion ($1.36 nillion).
4. Pick ‘n Pay
Market Cap. as of Jan. 23 2026: $1.13 billion
Pick ‘n Pay is reshaping its portfolio by shutting underperforming outlets and focusing on smaller, neighborhood stores. The chain competes directly with Shoprite and SPAR, leaning on its broad product range, loyalty program, and investment in online platforms. Pick ‘n Pay Stores Ltd is currently the 86th most valuable stock on the South African bourse with a market capitalization of R18.3 billion ($1.13 billion), which makes about 0.076 percent of the Johannesburg Stock Exchange equity market.
5. SPAR Group
Market Cap. as of Jan. 23 2026: $1.09 billion
SPAR runs more than 2,000 stores in Southern Africa under a global franchise model. It caters to both high- and low-income consumers, with “SPAR Gourmet” for premium shoppers and “SaveMor” for value-driven households. New stores in Cameroon and Zimbabwe highlight its African push, even as weaker outlets in South Africa are being trimmed. The Spar Group Ltd is currently the 88th most valuable stock on the South African bourse with a market capitalization of R17.8 billion ($1.09 billion), which makes about 0.074 percent of the Johannesburg Stock Exchange equity market.
