Shoprite market performance

Shoprite Holdings Ltd, Africa’s largest food retailer, has evolved from a modest South African grocery chain founded in 1979 into Africa’s most valuable and expansive food retailer, setting the benchmark for scale, execution, and investor confidence across the continent.

Headquartered in Cape Town, the group operates more than 3,478 stores, serving millions of consumers daily through brands such as Shoprite, Checkers, Usave, Medrite Pharmacies, and Computicket.

For investors, Shoprite represents one of the most dependable consumer plays on African exchanges. In its 2025 financial year, the retailer posted R256.7 billion ($16.06 billion) in revenue, with trading profit rising 16.6% to R15 billion and net income climbing 21.9% to R7.6 billion.

Its valuation, anchored by a price-to-earnings ratio near 19 and a low beta of 0.63—signals resilience rather than speculation. While listed primarily on the Johannesburg Stock Exchange, Shoprite’s operational footprint and secondary listings in the exchanges listed below by Shore Africa give it valuation relevance across multiple African exchanges, shaping investor sentiment far beyond South Africa.

1. Johannesburg Stock Exchange (JSE)
Market cap: R157 billion ($9.82 billion)
Country: South Africa
Status: Primary listing
Shoprite is a heavyweight on the JSE Top-40 Index, where it trades as a defensive consumer stock. Its scale, earnings growth, and dividend consistency make it a core holding for pension funds and long-term institutional investors.

Africa’s largest retailer by market capitalization, boasts a value of $9.82 billion and is currently the 24th most valuable stock on the South African bourse, which is about 0.654% of the Johannesburg Stock Exchange equity market.

Founded in 1979, Shoprite has grown from a modest eight-store chain to eight African countries, serving millions. However, Shoprite shares on the South African bourse have declined by 9.36 percent in 2026, from R271.91 ($17.01) on Jan. 1 to R261.39 ($16.34) at the close of market activities on Feb. 3, 2026.

2. Lusaka Securities Exchange (LuSE)
Market Capitalization: ZMW190 billion ($9.68 billion)
Shoprite’s presence on the LuSE enhances cross-border capital access. Zambian investors view the stock as a hedge against local currency risk, backed by strong operations in Zambia and earnings generated in rand-denominated markets.

Africa’s largest grocer dominates LuSE, leveraging scale, supply-chain efficiency, and Zambia’s rising consumer demand.

Shoprite Holdings is currently the most valuable stock on the LuSE with a market valuation of ZMW190 billion ($9.4 billion) and making up about 57.1 percent of the entire Lusaka Securities Exchange equity market.

3. Namibia Stock Exchange (NSX)
Market Valuation: NAD147.26 billion ($9.14 billion)
Through its secondary listing, Shoprite offers Namibian investors exposure to a blue-chip regional retailer.

It remains one of the most liquid and stable consumer stocks on the NSX, often used as a proxy for South African retail performance. As an investment company, which engages in the management of retail stores.

It operates through the following segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other Operating Segment.

4. A2X Markets (South Africa)
Secondary Listing Venue A2X Markets is a licensed South African stock exchange launched in October 2017 to provide competition to the Johannesburg Stock Exchange (JSE).

Rather than replacing primary listings, A2X offers a secondary trading platform where companies already listed elsewhere (like on the JSE) can also have their shares traded.

With Shoprite’s secondary listing included, A2X’s combined market cap has approached around R7 trillion, underscoring how major South African blue-chip stocks on its platform contribute significantly to its scale.