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South Africa’s retail sector stands as a dynamic epicenter of commerce, where forward-thinking executives, enterprising entrepreneurs, and savvy investors seize opportunities, molding their businesses into titans of the continent’s retail industry.
These retail powerhouses exert a profound influence within the nation and on the Johannesburg Stock Exchange (JSE), bolstering its market capitalization, which currently exceeds $880 billion. In doing so, they generate substantial returns for themselves, other co-founders, investors, and stakeholders.
The transformation of South Africa’s retail landscape owes its momentum to billionaire proprietors and executives who have ascended to unprecedented heights.
These trailblazers have revolutionized the retail sector and played a key role in shaping the nation’s financial trajectory. Their accomplishments have captivated the attention of global markets, resonating not just in South Africa but across the entire continent.
Prominent among these visionaries are individuals like Christo Wiese, a major investor in Shoprite Holdings, and the Saltzman family, instrumental in the remarkable success of Dis-Chem Pharmacies.
These pioneers have vividly demonstrated the transformative potential of the retail industry in reshaping economies and enhancing livelihoods. As these retail giants continue to push the boundaries of success, their enduring impact on South Africa’s economic future remains resolute.
According to Billionaires. Africa, here are the five founders, entrepreneurs, and investors steering the course of South Africa’s retail renaissance.
- Company: Shoprite Holdings
- Net worth on the JSE: $999.8 million
- South African retail tycoon Christoffel “Christo” Wiese has played a pivotal role in the evolution of Shoprite, a retail powerhouse that now encompasses more than 2,989 stores across the African continent, employing around 142,000 individuals. Holding multiple stakes in various companies, Wiese’s 11.5-percent stake in Shoprite Holdings positions him as the second-largest shareholder in the leading retailer. His stake is valued at R17.05 billion ($922.72 million), earning him a place among the Johannesburg Stock Exchange’s wealthiest investors.
- Company: Dis-Chem Pharmacies
- Net worth on the JSE: $440.8 million
- Co-founder of Dis-Chem Pharmacies, Ivan Saltzman, and his wife Lynette, are the driving forces behind the success of Dis-Chem Pharmacies, a prominent name in the South African pharmaceutical landscape. Their tireless efforts have propelled Dis-Chem from its humble beginnings to a vast network of more than 300 retail stores, with a workforce exceeding 20,000 professionals. Ivan Saltzman’s impressive 35.12 percent ownership stake places him among South Africa’s premier investors.
3. Giovanni Ravazzotti
- Company: Italtile
- Net worth on the JSE: $293.8 million
- Giovanni Ravazzotti, an immigrant from Italy, founded Italtile in 1969 to fill a gap in the market for affordable tiles and ceramic products in South Africa. Today, Italtile is South Africa’s leading franchisor, retailer, and manufacturer in the tile and bathroomware sector, operating a range of prominent retail brands. With a controlling stake of 33.88 percent listed on the JSE, Ravazzotti’s influence extends to measuring consumer expenditure health within the South African market.
- Company: Pick ‘n Pay
- Net worth on the JSE: $172.2 million
- Gareth Ackerman, son of the late Pick ‘n Pay founder Raymond Ackerman and the current chairman of the group, holds a significant 25.53-percent stake in Pick ‘n Pay. Founded in 1967, Pick ‘n Pay has expanded to more than 2,000 stores across eight African nations under the Ackerman family’s stewardship. Gareth Ackerman’s influence is solidified by the retailer’s impressive growth, cementing its status as leading player in the African retail industry.
- Company: Dis-Chem Pharmacies
- Lynette Saltzman, co-founder of Dis-Chem Pharmacies, stands as a key player in South Africa’s pharmaceutical industry. Her collaborative efforts with her husband, Ivan, have catalyzed Dis-Chem’s journey to become a leading name in the African healthcare sector. Their indirect 35.12-percent stake in Dis-Chem Pharmacies positions them as influential figures among South Africa’s foremost investors. With Dis-Chem’s current market capitalization standing at $1.29 billion, Lynette Saltzman’s legacy is etched into the company’s enduring success.
