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Wealth Intelligence: Why Pick n Pay Fell Behind Shoprite — The Dividend Trap

Christo Wiese chaired Shoprite for 29 years as it became Africa's largest retailer. This week he explained why its great rival fell behind: Pick n Pay, he said, spent decades handing cash to shareholders instead of reinvesting it.

Wealth Intelligence: Why Pick n Pay Fell Behind Shoprite — The Dividend Trap

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African Wealth Briefing — Thurs., Aug. 13, 2026

African Wealth Briefing — Thurs., Aug. 13, 2026

Christo Wiese, who built Africa's largest retailer, says Pick n Pay fell behind for one reason: it paid dividends instead of reinvesting. And MSC, the world's biggest shipping line, has committed to a 45-year, billion-dollar terminal at Maher Jarmakani's private Lagos port.

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