South African retailer expanding nationwide rollout

Boxer will be expanding nationwide. In its rollout, it will open 60 new stores, most of which will be liquor stores.

Discount retailers expanding in economic downturn. Image: Unsplash

Boxer, a subsidiary of Pick ‘n Pay, plans to open new stores across South Africa before the end of 2027. The discount supermarket appears to be bucking trends in this challenging economy, and offers signs of renewal for its parent company.

Retailer expanding with new supermarkets

In a trading update published on 28 July 2026, Boxer announced it was still on track to open an additional 25 supermarkets and 35 liquor stores nationwide.

The retailer acknowledged the “slowing momentum in a highly constrained trading environment” in the 20 weeks ending 19 July 2026.

However, it announced turnover during the period had grown 7.2%, with like-for-like growth reaching 2.2%, from the same period last year. The update publicised a -1.7% price deflation over the period, marking the third consecutive period of such deflation.

The retailer pointed to double-digit deflation in rice, maize meal, and flour being the key contributors to price deflation.

However, they remained optimistic that the retailer could maintain trading profit margin at the same level as last year’s period, thanks to what it called “strong other trading income growth and tight margin control.”

The retailer had opened 19 stores nationwide in the 20 weeks ending 19 July, 6 supermarkets and 13 liquor stores and remains committed to opening its previously stated target of 35 stores before the end of the 2027 financial year.

Following the trading update, Boxer (BOX) traded 3.17% lower.

Boxer the darling, as Pick ‘n Pay shuts stores

This news follows a turbulent period for the discount retailer’s parent company. Earlier this year, Pick ‘n Pay announced it had shuttered 56 stores and would be retrenching employees as part of its restructuring process, a move it has since halted following union intervention.

According to the South African Commercial, Catering and Allied Workers Union (SACCAWU), 22 000 employees could be retrenched as a result of the retailer’s restructuring. To prevent what it describes as a move that will “deepen poverty, unemployment and inequality,” it has taken Pick ‘n Pay to the labour court.

Amidst these developments, group CEO Sean Summers, who returned as chief executive in 2023, is committed to turning the retail giant around, restoring it to its former glory.


Source: https://www.thesouthafrican.com/business/south-african-retailer-expanding-nationwide-rollout/

Labour federations demand urgent reforms and investigations into the Public Investment Corporation

The Public Investment Corporation is dogged by the resignation of board members and the suspension of senior officials.
Image: IOL / File

Labour federations have identified the stabilisation of the Public Investment Corporation (PIC) and the instituting of investigations into the affairs of the institution as a priority.

This comes after the wave of suspensions of senior officials and resignations by board members against the backdrop of calls by some commentators for the discontinuation of the practice of appointing a finance deputy minister as chairperson of the board.

The DA announced earlier this week a Pension Protection Bill that seeks to implement long-overdue reforms by ensuring that the PIC board chairperson is independent rather than a serving politician and that appointments be made on merit.

This week, the PIC experienced resignations by Finance Deputy Minister David Masondo and five other board members ahead of the Monday meeting scheduled by Finance Minister Enoch Godongwana to dissolve the board in the wake of the suspension of CEO Patrick Dlamini and Acting Chief Investment Officer August van Heerden.

Cosatu parliamentary coordinator Matthew Parks said the first step right now was the stabilisation of the PIC.

“They need to appoint a new board quickly. That will include a chair. That’s the first thing, and we will expect the government to respond to comply with the PIC Act, which allows workers through the Public Service and Bargaining Council to select three representatives of workers,” Parks said on Saturday.

He also said the next step was to continue the investigations into corruption, including the investigations around Acapulco investments, the CEO, and other related matters at the PIC, so that those found to have committed an offence are dealt with.

“We would also want to see the president (Cyril Ramaphosa) task the Special Investigating Unit, the Hawks, and the Auditor-General to actually investigate all PIC investments to clear the air; otherwise, it (PIC) will forever be surrounded by allegations of corruption, state capture, and so forth,” he said.

South African Federation of Trade Unions (Saftu) general secretary Zwelinzima Vavi said the current crisis at PIC reinforced the urgent need to strengthen governance within institutions entrusted with managing public wealth.

“Whether or not criminal corruption is ultimately established, governance failures, undisclosed conflicts of interest, weak oversight, and political interference can inflict enormous financial damage and erode public confidence in institutions responsible for safeguarding workers’ pensions,” Vavi said.

He also said Saftu was calling for the immediate preservation of all documents, emails, electronic records, board minutes, recordings, and any other evidence relevant to the matters under investigation.

Saftu also called for the continuation of all ongoing investigations and “a genuinely independent investigation conducted by persons with no actual or perceived conflict of interest”.

It added that there should be full protection for whistle-blowers and an urgent public hearing by Parliament.

Vavi said there should be publication of the findings once investigations have been completed, and immediate referral to the appropriate law enforcement agencies should evidence emerge of corruption, fraud, theft, abuse of fiduciary duty, or any criminal conduct.

Both federations noted the need for reforms at the PIC, with Parks saying there has been a lot of discussion on the matter.

“Amending the legislation would take a little bit of time. The critical thing is to help drive the current or the last amendments to the Act, which are quite critical,” he said.

“We would want to see further amendments that protect and retain those provisions, which include worker representation on the PIC board, clear criteria for the board itself, investment guidelines for PIC, which should be disclosed publicly, whether they’re listed or unlisted,” Parks said.

He also stated that there should be checks and balances and what a minister can and cannot do, as well as the merits and demerits of who should chair the board.

“We should be moving forward and see how you further strengthen governance, how to further protect the institution from corruption, and how to further strengthen transparency and so forth. But I think right now is about stabilising it, having a new board, continuing investigations, actually expanding investigations, and then, yes, you can have discussions around what needs to be tweaked in the Act itself.”

Vavi said a number of recommendations were made to strengthen governance, transparency, accountability, and oversight within the PIC made by the Mpati Commission.

“South Africans are entitled to know whether those recommendations were fully implemented and, if not, why another governance crisis of this magnitude has emerged. This question must be answered regardless of who is ultimately found to have acted improperly,” he said, adding that a public report on the implementation of the recommendations of the Mpati Commission should be made available.

mayibongwe.maqhina@inl.co.za


Source: https://iol.co.za/news/politics/2026-07-26-labour-federations-demand-urgent-reforms-and-investigations-into-the-public-investment-corporation/

Cosatu calls for urgent PIC board appointments as pension fund assets reach R3.6 trillion

Dr David Masondo, Deputy Minister of Finance. The labour federation Cosatu says South Africa’s R3.6 trillion public investment fund must remain protected through stronger governance, worker representation and continued investigations into alleged wrongdoing.
Image: Timothy Bernard / Independent Newspapers

The Congress of South African Trade Unions (Cosatu) has called on Cabinet to urgently appoint a new board for the Public Investment Corporation (PIC), warning that investigations into alleged corruption and governance failures must continue despite the resignation of the corporation’s board.

The federation acknowledged the resignation of the PIC board, including chairperson and Deputy Finance Minister Dr David Masondo, as well as labour representatives, while commending their stewardship during a period in which the PIC’s assets under management doubled.

According to Cosatu, the funds managed by the PIC belong to South African workers and pensioners and must remain protected from political interference and corruption.

“It is important for all parties to understand that the monies invested by the PIC, namely the Government Employees’ Pension, Unemployment Insurance and Compensation of Occupational Injuries and Diseases Funds, belong to workers and pensioners, not PIC officials, politicians, tenderpreneurs or their families,” the federation said.

Cosatu praised the outgoing board for overseeing strong investment growth.

“We commend the PIC’s performance that saw these assets doubling over the past six years from R1.8 trillion to R3.6 trillion, far outstripping other funds and entities,” it said.

Despite the strong financial performance, the federation warned that governance concerns remained unresolved.

“We remain deeply concerned, notwithstanding the performance of the outgoing Board, that serious instances of corruption, wastage and state capture remain entrenched within the PIC,” Cosatu said.

The federation added that it had been “extremely disappointed by whistleblower reports alleging continued interference by politicians in PIC appointments and investments.”

Cosatu also welcomed the outgoing board’s decision to refer the Acapulco investment linked to Lanseria Airport to the Special Investigating Unit for further investigation.

“It is critical that this and other investigations into governance and corruption are not blocked or swept under the carpet by the Board’s resignation,” the federation said.

The labour federation urged President Cyril Ramaphosa to expand investigations into the PIC’s investment portfolio.

“The Federation urges the President, Cyril Ramaphosa, to task the SIU with the support of the Auditor General and the Hawks to investigate all PIC investments, listed and unlisted, and to hold any persons, no matter who they may be, fully accountable under the law for any instances of corruption.”

Cosatu said stability at the PIC was now essential and called on Cabinet to move swiftly in appointing a new board comprising individuals with the necessary expertise and integrity.

“It is critical that Cabinet move with speed to appoint a new PIC Board. It must consist of persons of integrity and capacity to provide the necessary stability and leadership to the PIC.”

The federation also stressed that the appointment process must comply with the Public Investment Corporation Act by ensuring that three worker representatives are selected through the Public Service Coordinating Bargaining Council.

“We expect Cabinet to comply with the PIC Act’s requirements that three representatives to the PIC Board be selected by workers through the Public Service Coordinating Bargaining Council. These are key to assuring workers and pensioners that their hard earned monies are safe.”

Looking ahead, Cosatu said it would oppose any legislative changes that weakened protections introduced under the 2019 PIC Amendment Act.

“Cosatu insists and will ensure that any proposed amendments to the PIC Act retain and protect the progressive gains workers secured in the 2019 PIC Amendment Act, namely worker selected representatives and clear criteria for Board appointments, checks and balances upon the executive authority, progressive investment mandates and the required public disclosure of all listed and unlisted investments.”

The federation said it would continue engaging with the Presidency, National Treasury and Parliament to ensure that workers’ retirement savings remain protected and that all allegations of corruption and state capture at the PIC are thoroughly investigated.


Source: https://iol.co.za/business-report/economy/2026-07-24-cosatu-calls-for-urgent-pic-board-appointments-as-pension-fund-assets-reach-r36-trillion/

‘More blitzes coming’: Labour dept finds only 3 compliant workplaces, arrests 137

The Department of Employment and Labour in Mpumalanga conducted a multidisciplinary high-impact blitz inspection at Tomahawk Farm in Malelane.
Image: Facebook/ Department of Employment and Labour

A total of 137 foreign nationals were arrested and only three of 114 workplaces were found compliant during a nationwide inspection blitz by the Department of Employment and Labour on Friday.

Deputy Minister Jomo Sibiya said the high-impact operation, one of the largest multi-departmental blitzes to enforce compliance across the country, would continue.

The operations were conducted nationally, with major enforcement activities in Gauteng, KwaZulu-Natal and the Western Cape, alongside operations in other provinces, for the promotion of lawful employment, protection of workers’ rights, and addressing workplace non-compliance.

“The national operation saw 114 workplaces inspected and only three were compliant. The operations led to the arrest of 137 foreign nationals,” said department spokesperson Teboho Thejane.

He said the operation aimed to address systemic non-compliance with employment laws, immigration regulations, and municipal by-laws, while arresting individuals for offences like illegal residency and highlighting government responses to critical issues.

Thejane said the National High-Impact Blitz Inspection saw a total of 164 labour inspectors, 47 immigration officers, 123 SAPS officials, 56 municipal/law enforcement officials, two Border Management Authority officials, specialised stakeholders (environmental health practitioners, agriculture officials, Liquor and Gambling Board representatives, Brand Protection officials, Consumer Protection officials, private security, and Centlec).

He said inspections revealed recurring non-compliance with key provisions of the Occupational Health and Safety Act (OHSA), the Compensation for Occupational Injuries and Diseases Act (COIDA), the Unemployment Insurance Act (UIA), the Basic Conditions of Employment Act (BCEA), and the National Minimum Wage Act (NMWA). There was also non-compliance with the immigration act and by-laws.

“Consolidated data from provinces showed that the national inspection blitzes impacted 4,291 South African employees; the total number of foreign employee nationals was 546. The number revealed that 119 notices were issued, 10 prohibition notices were issued, and 29 contravention notices were issued,” Thejane said.

“Compliance with the OHS Act was at a paltry 2.6%, compliance with COIDA was at nine percent, while compliance with UIF was 0.2% and compliance with BCEA, including the (NMW and sectoral determinations), was at 31%.”

 

The national high-impact blitz inspection was conducted at the Limpopo Central Hospital construction site.

The national high-impact blitz inspection was conducted at the Limpopo Central Hospital construction site. Image: Facebook/ Department of Employment and Labour

 

In the Centurion and Pretoria areas, Sibiya, Home Affairs Deputy Minister Njabulo Nzuza, and Tshwane Mayor Dr Nasiphi Moya spearheaded Gauteng operations.

Speaking to the media after inspecting one of the companies, Sibiya said they found that the company did not comply with several South African laws, including labour and immigration laws.

“The big challenge that we have found is that workers are being underpaid here. The Minimum Wage Act is not being observed. They are paid far less than the level of the minimum wage that we have set, which is currently R30.23 an hour. They are paid R28 an hour,” Sibiya said.

“They are made to work far longer hours, and they are not paid overtime. They are locked inside the company at night. They work a 12-hour shift, but at times they work beyond the 12-hour shift, which they are not paid for. They are not registered, some of them with UIF (Unemployment Insurance Fund). They are not registered with the compensation fund. Some don’t even have contracts. They don’t get PPE (personal protective equipment), the uniform.”

 

Deputy Ministers Njabulo Nzuza and Jomo Sibiya unite for a common cause: ensuring compliance in South Africa’s workplaces.

Deputy Ministers Njabulo Nzuza and Jomo Sibiya unite for a common cause: ensuring compliance in South Africa’s workplaces. Image: Facebook/ Department of Employment and Labour

 

Sibiya said the department would engage employers, but would enforce the law and ensure compliance.

“We are going to continue to conduct all these across the country. We have been doing this work for some time. We have ramped up things. When we collaborate, we see results. This is about enforcing the laws of the country. As a government, we cannot allow the employment of illegals to continue. We want to cut the demand because the employment of illegal foreigners is being done deliberately,” Sibiya said.

Nzuza said the number of arrests may appear small, but the message had been received.

thobeka.ngema@inl.co.za


Source: https://iol.co.za/news/south-africa/2026-07-26-more-blitzes-coming-labour-dept-finds-3-compliant-workplaces-arrests-137/

Unions warn political interference is undermining PIC

SAI20 South Africa

The Congress of South African Trade Unions (Cosatu) has flagged possible governance and political interference at the Public Investment Corporation (PIC) following the resignation of board chairperson David Masondo.

Masondo stepped down on Thursday, saying he hoped his resignation would help restore stability at South Africa’s largest asset manager after months of governance challenges.

His departure follows the precautionary suspension of PIC CEO Patrick Dlamini and the resignation of six non-executive directors.

Cosatu’s parliamentary coordinator Matthew Parks said the federation is concerned about the instability at the PIC, which manages billions of rands on behalf of workers through the Government Employees Pension Fund, the Unemployment Insurance Fund and the Compensation for Occupational Injuries and Diseases Fund.

Parks warned that the PIC has for years been vulnerable to political interference and corruption, placing the retirement savings of millions of South Africans at risk.

However, he acknowledged that the outgoing board had made meaningful progress in addressing longstanding governance failures.

“We do want to appreciate that over the past few years, under the outgoing Board, there was actually significant progress on many fronts. Previously, the PIC boards were deeply embedded in issue corruption. The outgoing board actually done some positive work in beginning to tackle that.”

The South African Federation of Trade Unions (SAFTU) echoed Cosatu’s concerns, warning that the current governance crisis threatens confidence in one of the country’s most important financial institutions, which manages more than R3 trillion in assets on behalf of public sector workers.

SAFTU spokesperson Newton Masuku said all documents, emails, electronic records, board minutes and other evidence linked to the ongoing investigations should be preserved.

He stressed that investigations must continue without political or administrative interference, despite changes to the PIC’s leadership.

The federation is also calling for an independent investigation led by individuals with no actual or perceived conflicts of interest, as well as full protection for whistleblowers who come forward in good faith.

SAFTU has further urged Parliament’s Standing Committee on Finance to hold urgent public hearings involving Finance Minister Enoch Godongwana, former and current PIC board members, Patrick Dlamini, the Government Employees Pension Fund, the Financial Sector Conduct Authority and other relevant stakeholders.

Meanwhile, Parks said the appointment of a new PIC board should be prioritised, adding that members must be selected based on integrity and competence rather than political considerations.

“We think that is very unhealthy. So we do hope that when the new PIC board is appointed, it’s led by persons of integrity and capacity. We expect the government to respect that the PIC Act provides for three worker representatives chosen by workers at the Public Service Bargaining Council to represent them. Not chosen by politicians,” said Parks.

Cosatu has also called for investigations into the outgoing board, including the controversial Acapulco investment already referred to the Special Investigating Unit (SIU), to be expedited.

Parks said the trade union federation wants the president to mandate that the SIU, the Hawks, and the Auditor-General conduct a broader forensic investigation into all PIC investments, arguing that any possible corruption may extend beyond a single transaction.


Source: https://www.jacarandafm.com/news/news/unions-warn-political-interference-is-undermining-pic/