by Dev_SACCAWU | Labour Market News
Woolworths CEO Roy Bagattini. Picture: SUPPLIED (Supplied)
The acquisition, which brings in2food’s operations closer to Woolworths’ business, is expected to enhance supply chain efficiency and product innovation
Woolworths plans to double down on expanding in2food locally and offshore after acquiring its long-standing food supplier.
The food and fashion retailer said on Tuesday that it had bought privately-owned prepared foods manufacturer in2food from the founders, Old Mutual Private Equity (part of Old Mutual Alternative Investments), and other shareholders.
In2Food, bought by Old Mutual Private Equity in 2016, supplies “high-quality convenience foods” with a diversified range of premium private-label products across freshly prepared convenience food, fresh produce and long-life categories as well as several ambient and bakery products.
It has eight manufacturing facilities across the country and about 8,000 employees. Woolworths is in2food’s largest customer, with the relationship spanning three decades. The balance of its customers comprises other local and international companies across the food service and wholesale channels.
“There’s an opportunity to grow it beyond the Woolies component of it, the non-Woolies revenue in in2food, both locally and offshore. Woolies accounts for about 80% of its (in2food) business. But there is a component which is very interesting, which is growing, and which we want to help double down on and expand both locally, but also offshore through offering other big food retailers globally, a sort of a white-label type product. We do that already,” Woolworths Group CEO Roy Bagattini said in an interview.
He said UK retailer Marks and Spencer is one of the biggest offshore customers of in2food.
And what’s very important about that is we can take the efficiency and invest that back into price, which is really good for our customers, but all of these things around the customer offer really ultimately flow through into big market share gains, which ultimately flow through to a better business and our shareholders benefit at the end of the day
— Roy Bagattini, Woolworths Group CEO
“There are a number of other big retailers in the US, some in Europe, and we’re opening up some channels into the Middle East here as well,” he said.
The acquisition gives Woolworths such a significant competitive advantage in this food space that no one else has and can replicate. We see significant future opportunities to come out of the transaction.”
Bagattini said the food retail landscape is getting a lot more competitive, “and we also know that we have a differentiated position within that”.
“Our food business is a sort of standout performer here. And we continually think about how we protect that. How do we grow the moat? How do we strengthen the moat around this business in a way that we continue to lead as we do? And we do, and you can do that defensively. You can do that offensively. Defensively, it gives us security or assuredness around supply … with all of the IP, the innovation. So it’s our single biggest supplier, and we now own that, which is very important.”
Offensively, it will drive speed to market much more aggressively and help drive agility.
“And what’s very important about that is we can take the efficiency and invest that back into price, which is really good for our customers, but all of these things around the customer offer really ultimately flow through into big market share gains, which ultimately flow through to a better business and our shareholders benefit at the end of the day,” said Bagattini.
In2Food’s management team will continue to lead it as a standalone operating business within Woolworths.
Richard Cooper, CEO of in2food, said the transaction “further enhances Woolworths Foods’ ability to protect product quality, innovation and availability, which are core to its differentiated customer proposition.
“We look forward to further deepening our decades-long connection with Woolworths.”
Bagattini said: “Woolworths and in2food share a more than three-decade history of partnership in creating products of outstanding quality and innovation to meet the evolving needs of our customers. This acquisition represents a compelling opportunity to bring a key strategic capability closer to the Woolworths Foods business, strengthening one of the core points of differentiation in our premium food offering.”
Woolworths plans to grow its food services business into new areas including school spaza shops and events. It already has WCafes and NowNow for fast food, which are housed under Woolworths Ventures.
Last week, Woolworths announced that Bagattini will retire at the end of September, after more than six years at the helm. He will be replaced by Sam Ngumeni, who has been with Woolworths for almost 30 years and is CEO of the food division.
Source: https://www.timeslive.co.za/news/2026-03-18-in2food-and-stuff-woolworths-acquires-food-supplier-with-plans-for-more-expansion-offshore/
by Dev_SACCAWU | Labour Market News
Woolworths Holdings Limited has announced its ambitious plan to acquire in2food, a leading prepared foods manufacturer in South Africa.
Image: Supplied
Woolworths Holdings Limited (WHL) unveiled an ambitious plan to acquire 100% of the shares in in2food, a well-regarded prepared foods manufacturer based in South Africa.
in2food has established itself as a market leader in convenience foods, generating revenues exceeding R5 billion annually through a diverse portfolio comprising freshly prepared goods, fresh produce, long-life items, as well as ambient and bakery products.
Notably, Woolworths Food is the largest customer of in2food, which also supplies a variety of local and international companies through food service and wholesale channels.
Commenting on the longstanding partnership between Woolworths and in2food, Woolworths Group CEO, Roy Bagattini, said this acquisition represents a compelling opportunity to bring a key strategic capability closer to the Woolworths Foods business, strengthening one of the core points of differentiation in our premium food offering.
He noted that the acquisition will see in2food operate as a standalone business within Woolworths, with its experienced senior leadership team remaining in place.
Richard Cooper, CEO of in2food, said the transaction further enhances Woolworths Foods’ ability to protect product quality, innovation, and availability, which are core to its differentiated customer proposition.
He also expressed gratitude towards Old Mutual Private Equity and other exiting shareholders for their support and guidance during in2food’s growth journey since 2015.
Bagattini made it clear that this acquisition will not alter Woolworths’ broader food sourcing model.
“Our unique relationship with our suppliers is what differentiates us and is fundamental to delivering our premium food offering,” he said.
He emphasised that the transaction enhances the already strong relationship with one of their most innovative suppliers, benefitting the entire value chain and ultimately the end-customers.
The group expects the acquisition to be earnings accretive, even before factoring in operational efficiencies anticipated to emerge over time. The purchase consideration will be settled in cash, leveraging Woolworths’ current financing facilities.
However, the completion of the transaction remains dependent on the fulfilment of both regulatory and commercial suspensive conditions, including the approval from South Africa’s competition authorities.
Source: https://iol.co.za/business/2026-03-17-woolworths-set-to-strengthen-its-food-offering-with-in2food-acquisition/
by Dev_SACCAWU | Labour Market News
Eskom, Smart Meters, Load Shedding
Eskom is deploying over 444,000 smart meters nationwide to improve electricity management, reduce load shedding, and modernize the power grid, focusing on provinces with high network losses. This initiative also sees Eskom achieving 300 days without load shedding due to improved plant performance. Simultaneously, other developments such as cucumber shortages and the Traditional and Khoisan Leaders Bill are also in focus.
Eskom, South Africa’s primary electricity provider, has made significant strides in modernizing the nation’s power infrastructure by deploying over 444,000 smart meters across the country. This ambitious project is a cornerstone of Eskom‘s broader strategy to enhance electricity management, mitigate the impact of load shedding, and optimize the efficiency of the national grid.
The rollout, strategically focused on provinces experiencing the highest network losses, including Gauteng, Mpumalanga, Limpopo, and KwaZulu-Natal, reflects a targeted approach to address critical infrastructure needs. The implementation of these smart meters represents a crucial step towards creating a more resilient and technologically advanced electricity system, enabling more effective monitoring and control of power distribution across the country. Customers will benefit from increased transparency in their energy consumption, empowering them to make informed decisions about their usage patterns and potentially lower their electricity bills. This proactive initiative is not just about upgrading technology; it is about building a sustainable energy future for South Africa, ensuring reliable power supply for all citizens and businesses. The installation of smart meters also contributes to improved billing accuracy, eliminating discrepancies and fostering greater trust between the utility and its customers. Moreover, the data collected from these smart meters allows Eskom to gain valuable insights into the grid’s performance, facilitating proactive maintenance, identifying potential issues before they escalate, and ultimately minimizing the frequency and duration of power outages. This concerted effort demonstrates Eskom’s commitment to modernizing its operations and adapting to the evolving demands of the energy landscape, creating a more efficient and reliable electricity supply for all South Africans. Furthermore, the implementation aligns with global trends towards smart grid technologies, positioning South Africa as a participant in the worldwide shift towards a more sustainable and technologically advanced energy future.\Simultaneously, Eskom is celebrating a remarkable achievement, reaching 300 days without experiencing load shedding, a significant milestone showcasing the improvements in plant performance and a substantial decrease in power outages across the country. This positive development is attributable to a combination of factors, including enhanced plant maintenance, optimized operational strategies, and proactive grid management. The reduction in load shedding is a welcome relief for businesses and households, allowing for increased productivity and a better quality of life. Alongside the technological advancements, this achievement highlights the dedication and hard work of Eskom’s workforce in ensuring a reliable electricity supply. The company’s focus on operational excellence and proactive problem-solving has contributed significantly to this positive trend. While these advancements are noteworthy, challenges persist, and Eskom continues to work towards addressing them, particularly focusing on long-term solutions for sustainable energy security. Ongoing investments in infrastructure, combined with strategic partnerships and innovative technologies, are essential to further strengthen the power grid and ensure the continued reliability of electricity supply for South Africa. Moreover, this positive progress is a testament to the resilience of the South African economy and its capacity for growth. In addition to Eskom’s progress, various other developments are taking place across the country. Unfavorable weather conditions have impacted the supply of cucumbers, leading to price increases as the demand remains strong. Political landscapes also evolve, with the tabling of the new Traditional and Khoisan Leaders Bill, addressing complex issues of land rights and leadership. Local authorities are actively addressing challenges, like the closure of an unsanitary cow hide cooking site in Johannesburg, along with the detection of a suspected illegal gold refinery. Meanwhile, in the world of sports, Mamelodi Sundowns’ player Nuno Santos is proving his worth as a key player despite adapting to the different style of play. Excitement builds up for fans as the Six Nations come to a close with the newest World Rugby rankings now published.\The widespread installation of smart meters represents a significant investment in South Africa’s energy future. These devices transmit real-time data on electricity consumption, enabling consumers to track their usage patterns and make informed choices to conserve energy and manage their expenses more effectively. This level of granular data also allows Eskom to optimize power distribution, identify and address grid inefficiencies, and proactively manage potential outages. The positive impacts are not limited to the individual consumer level; the enhanced data collection capabilities will contribute to the stabilization of the entire energy grid. The move is also aligned with global trends, where smart grids and smart metering are a key aspect of building a sustainable and resilient energy infrastructure. Besides its technological importance, the rollout is also an indication of Eskom’s financial and operational capabilities, which are crucial for ensuring the stability of power supply. The smart meter rollout is a reflection of the organization’s focus on improving customer service and operational efficiency. The long-term objectives include not only reducing load shedding and improving grid efficiency, but also promoting greater energy efficiency and environmental sustainability. Eskom’s efforts also encompass the modernization of its infrastructure, including the ongoing refurbishment and maintenance of power plants. This holistic approach will ensure a more reliable and sustainable energy future for the country. The initiative to improve the grid and curb outages is critical for economic growth. Reliable power is a fundamental requirement for businesses and industries, therefore contributing to job creation and investments. Further, the project’s success is dependent on collaboration, involving government agencies, technology partners, and the end-users. Community engagement and educational programs are vital to ensure consumers know how to make the most of the new technology and reap the benefits of smart metering. This is a crucial step towards modernizing the South African energy sector and driving economic prosperity.
Source: https://za.headtopics.com/news/eskom-spearheads-smart-meter-rollout-across-south-africa-to-81006052
by Dev_SACCAWU | Labour Market News
Postbank, FSCA, Financial Services License
Postbank has been granted a Financial Services Provider (FSP) license by the Financial Sector Conduct Authority (FSCA), announced by Deputy Minister Mondli Gungubele. This allows Postbank to offer financial advice and intermediary services and is a key step in its transformation strategy.
Postbank has been registered as a licensed financial services provider with the Financial Sector Conduct Authority . The Deputy Minister of the Department of Communications and Digital Technologies, Mondli Gungubele, announced the regulatory landmark for the state-owned bank.
Gungubele said that the license, issued under the Financial Advisory and Intermediary Services Act , authorises Postbank to provide financial advice and intermediary services related to financial products. To obtain and maintain an FSP license, institutions must meet strict regulatory requirements covering governance, compliance, risk management, operational capability, and consumer protection. Gungubele said the milestone reflects progress in rebuilding Postbank into a sustainable and well-governed state-owned retail bank.“The granting of this license is an important regulatory milestone for Postbank and a strong signal of the progress being made to stabilise and strengthen the institution,” said the Deputy Minister. “It demonstrates that Postbank is meeting the regulatory standards required to operate responsibly within South Africa’s financial sector.” The achievement forms part of the bank’s five-year transformation strategy, built around three pillars: Stabilise, Build and Differentiate. Obtaining the FSP licence represents a key step in the Build phase of the strategy, allowing it to expand the financial services it offers. The license provides additional assurance that services are delivered under a regulatory regime regarding customers and social grant beneficiaries who already rely on Postbank.While the bank has celebrated the receipt of the FSP licence, it has not yet acquired a full commercial banking licence from the South African Reserve Bank via the Prudential Authority. “The development signals continued progress in building a capable state-owned banking institution that advances financial inclusion and expands access to affordable financial services,” said Gungubele. “This achievement represents another important step in Postbank’s long-term journey towards becoming a fully-fledged commercial bank that serves the needs of South Africans while contributing to the strength and stability of the country’s financial system.”When it was under the South African Post Office, Postbank offered some financial services, but it was strictly a savings subsidiary. After President Cyril Ramaphosa signed the Postbank Amendment Bill into law in September 2023, the Postbank underwent a major change. The new legislation formally transferred Postbank’s shareholding from the embattled South African Post Office to the government. The shift enabled the creation of a bank-controlling company, Postbank SoC Limited, which will enable Postbank to become a fully-fledged bank in South Africa. Business Talk – Quadrupleplay CEO Sthembiso Dlamini unpacks what needs to be done to bridge the digital divide in South AfricaWhy the Iran war dollar surge could reverse South Africa’s rand rally and what forex traders should do next.
Source: https://za.headtopics.com/news/postbank-receives-financial-services-license-from-fsca-81114888
by Dev_SACCAWU | Labour Market News
The Congress of South African Trade Unions (COSATU) presented its submission on the 2026/27 Budget’s Division of Revenue Bill and the 2025/26 Budget’s Special Appropriation Bill to Parliament’s Standing Committee: Appropriation.
COSATU is extremely disappointed with the lackluster 2026/27 Budget and Medium-Term Expenditure Framework. Whilst appreciating that there are some important allocations that COSATU campaigned for in the Budget, it fails to respond decisively to the fundamental crises facing the working class and the economy, in particular a 41.1% unemployment rate, economic growth far below the 3% needed to create jobs, struggling public and municipal services and State-Owned Enterprises (SOEs), entrenched levels of poverty and inequality, and endemic crime and corruption. Tragically, the Budget is focused on balancing the books, not on aggressively kickstarting economic growth or tackling unemployment.
Key to providing an environment where the economy can take off and the lives of the working class are improved is to ensure that frontline public services have the resources needed to fulfill their constitutional and developmental mandates. We welcome investments in health and education, in particular R18 billion allocations to enroll 300 000 Grade R learners; R7.8 billion for the National Health Insurance Grants, plus R24 billion for revitalising public healthcare, R92 billion for district health programmes, the building of seven new provincial hospitals and R21 billion for the employment of doctors over the MTEF.
Local government remains the state’s Achilles’ heel, with more than 60% of municipalities in financial distress and many struggling to provide basic services or pay staff. The allocation of R27 billion to improve metros’ abilities to provide basic services and bill correctly is critical, as are plans to strengthen the national government’s ability to timeously intervene in and hold failing municipalities accountable. Plans to connect over 320 000 houses to electricity and roll out 258 000 smart meters are welcome. However, these interventions do not go far enough to capacitate often highly dysfunctional municipalities, tackle rising municipal debt, or deal with corrupt and incompetent municipal management.
Much more must be done to enable Eskom to reduce the price of electricity, plus return Transnet and Metro Rail to full capacity to unlock mining, manufacturing, and agricultural jobs as well as to provide efficient public transport for urban workers. The substantial infrastructure investments over the MTEF of R1.07 trillion, in particular for energy, rail, ports, water, roads, and airports, will help boost economic growth and jobs.
The absence of a bold stimulus package for SMMES, industrial and export sectors badly needed for boosting economic growth and jobs is deeply worrying. It is beyond disappointing that the Presidential Employment Programme has been cut by half despite SONA’s commitments to increase it.
Although there are important allocations for some frontline services and infrastructure, COSATU is extremely frustrated that Treasury and government collectively, have once again reduced the Budget to balancing books and missed the opportunity to table a bold stimulus package that would fix public and municipal services, spur economic growth, boost employment, provide relief for the poor and unemployed, and ramp up tax compliance. COSATU will be seeking urgent engagements with Treasury and government to ensure these failures are addressed. We cannot afford to continue to normalise 1% economic growth nor 41.1% unemployment. The patience of the working class and society are not unlimited.
Issued by COSATU
Matthew Parks (COSATU Parliamentary Coordinator)
Mobile: 082 785 0687
Email: matthew@cosatu.org.za
Source: https://mediadon.co.za/cosatu-presented-its-submission-on-the-budgets-division-of-revenue-and-special-appropriations-bills/
