The real cost of crime and Eskom’s problems

Shoprite has published its financial results, which show an increase in turnover to R113.6 billion, and a profit of R6.3 billion.

The company also revealed that it created nearly 10,000 new jobs during the year – which was partly fuelled by opening 170 new corporate stores.

What stood out in the results was the impact of crime and electricity issues on the company’s performance.

Shoprite CEO Whitey Basson said security costs due to high levels of crime in South Africa now amounts to more than R1 billion – close to 1% of the company’s turnover.

Basson said they employ high numbers of security guards to battle robberies and theft experienced at stores.

He added that it costs them almost R2 billion – or close to 2% of Shoprite’s turnover – to ensure a constant power supply to continue doing business during periods of load shedding.

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The real cost of crime and Eskom’s problems