EngineerFront

Engineer Front gives an in depth analysis and commentary on a variety of business, energy, finance, mining and technology topics.

[Business Explainer @businessXplain]

SHOPRITE REPORTS R270BN IN SALES

Shoprite Group delivered a strong performance in 2026, with sale of merchandise from continuing operations rising 7.2% to R270.8bn, adding R18.1bn in new sales.

The retailer achieved this while keeping price increases below South Africa’s official food inflation rate, with Shoprite and Usave even recording price deflation.

Growth was driven by its core supermarket operations, strong Checkers performance, and rapid expansion of its Sixty60 delivery platform, which grew sales by 34.5% to R25.5bn.

The group also moved into new growth areas through acquisitions in fintech and coffee retail, while increasing its dividend by 11.8% and rewarding customers with R18.3bn in Xtra Savings cash-back benefits.

Full results - https://t.co/5b35zYFsLU

Pictured - Shoprite Group CEO, Pieter Engelbrecht

[Nkululeko Mhlaba @NkululekoMhlaba]

Nedbank profit: R7.94bn. CEO pay: R106m.

Capitec profit: R16.83bn. CEO pay: R104m.

Standard Bank profit: R49.1bn. CEO pay: R106m.

Eskom profit: R30.35bn. CEO pay: R12.18m.

Nedbank made a quarter of what Eskom made and paid its CEO nine times more.

Marokane is the cheapest executive in the country.

[Thami Masemola @ThamiMasemola]

BREAKING: These are the August 2026 Mzansi new vehicle sales from the latest naamsa report. The industry sold a total of 57 898 units.

1. Toyota (including Lexus and Hino) — 13 814 units
2. Suzuki — 6 505
3. Volkswagen Group (including Audi) — 5 668
4. Ford — 3 202
5. Hyundai — 3 034

6. Chery — 2 763
7. GWM (including Haval, Tank and Ora) — 2 594
8. Isuzu — 2 531
9. Jetour — 1 952
10. Kia — 1 783

11. Renault — 1 702
12. Mahindra — 1 563
13. Omoda and Jaecoo — 1 305
14. BMW Group (including MINI) — 1 299
15. Tata Motors — 853

16. Nissan — 786
17. Stellantis (including Alfa Romeo, Citroen, Fiat, Jeep, Leapmotor, Opel and Peugeot) — 627
18. BYD — 609
19. Mercedes-Benz — 567
20. FAW Trucks — 546

21. Foton — 402
22. JAC — 304
23. Salvador Caetano Group (including GAC and JMC) — 249
24. MG — 248
25. Mazda — 245

26. Daimler Truck — 241
27. Volvo Group (trucks only) — 241
28. JLR (including Jaguar, Land Rover and Range Rover) — 228
29. Scania — 211
30. Changan (including Deepal) — 205

31. Honda — 196
32. MAN — 150
33. LDV — 149
34. UD Trucks — 142
35. BAIC — 138

36. Mitsubishi — 138
37. Porsche — 125
38. Volvo Cars — 116
39. Sinotruk — 92
40. Powerstar — 90

41. Tata (commercial) — 70
42. Shacman — 68
43. VECV — 51
44. Iveco — 35
45. Babcock — 30

46. Subaru — 24
47. Scuderia (Ferrari) — 4
48. Proton — 3

[Hilton Tarrant @hiltontarrant]

The Shoprite Group has acquired Vida e Caffe. This is intended to strengthen its “presence in the growing coffee and quick-service restaurant category”. The network spans approximately 400 corporate and franchise stores.

[Jacob Maroga @jacob_maroga]

As @Eskom_SA reports a second profit and South Africa achieves over 400 days without load shedding, it's worth reflecting on some famous utterances.

“They can't save Eskom, They can't turn it around, its going to die” - July 2022

[EngineerFront @EngineerFront]

Business Day reports that Absa has deepened its AI push through a renewed partnership with Salesforce, reinforcing its ambition to lead digital transformation in African banking. The collaboration focuses on embedding advanced AI into customer engagement.

https://t.co/zgFXcBOSyU

[EngineerFront @EngineerFront]

Daily Investor reports good news for Capitec clients: the bank has announced enhancements that will improve customer experience and strengthen its competitive edge. These changes reflect Capitec’s ongoing strategy to simplify banking, reduce costs etc
https://t.co/usSFbBQhEh

[Mashudu Modau @Mashstartup]

Yoco brings Apple Tap to Pay on iPhone to South Africa 🙌🏿

Small businesses can now accept tap payments directly on an iPhone with no card machine or extra hardware needed. Customers just tap their card, phone, or smartwatch to pay.

[Jacob Maroga @jacob_maroga]

Belgium learning from the mistakes of Germany. They are now prioritizing high capacity dispatchable power. Belgium plans to nationalise nuclear power plants and reverse the phase out decision

[FT Energy @ftenergy]

South Africa now has a power surplus, says Eskom chief https://t.co/40XVpN1H42

[EngineerFront @EngineerFront]

Big appointment here under Absa CEO Kenny Fihla - Deutsche Bank South Africa CEO Saloshni Pillay to join them to head the investment bank for the country.

https://t.co/Tp3JZlMQ1M

[BusinessTech @BusinessTechSA]

Woolworths is looking to expand its tuck shop offerings across South Africa following positive reactions to its limited rollout.
https://t.co/7aJLCtmuPM

[EngineerFront @EngineerFront]

Standard Bank and Absa have raised their minimum monthly pay to above R22,000 following a record-breaking 2025.

https://t.co/muTESitdG1

[Barchart @Barchart]

BREAKING 🚨: Nike

$NKE falls to lowest closing price in more than 15 years 📉📉 Horrendous!

[EngineerFront @EngineerFront]

Talent Hires from Standard Bank
Zaid Moola → CEO of Absa CIB (ex-head of global markets at Standard Bank), Musa Motloung → Group strategic risk officer, Avikaar Ramphal → Head of strategic risk, Clive Potter → Managing executive for client coverage amongst others.

[EngineerFront @EngineerFront]

https://t.co/OHSkX8UO4u

[Aakash Gupta @aakashgupta]

Nike wiped out $200B+ in market cap since November 2021. And the chart actually understates how bad it is.

This company made one bet that destroyed everything: the direct-to-consumer pivot. During COVID, Nike's online sales surged, and management convinced themselves the stay-at-home economy was permanent. They pulled product from Foot Locker, Dick's, and thousands of wholesale partners to push buyers through https://t.co/QAXD8gsLJf and Nike stores.

That ceded physical shelf space to On Running, Hoka, New Balance, and every competitor happy to fill the void. By the time Nike brought Elliott Hill in as CEO, customers had already moved on.

The China numbers are staggering. Seven straight quarters of declining revenue. Greater China sales dropped 17% last quarter. Next quarter Nike expects a 20% plunge. Meanwhile Lululemon is posting double-digit growth in the same market. Anta and Li-Ning are eating Nike's share from below. Nike's China revenue contribution fell from 18.6% in 2021 to 14.2% in 2025.

Yesterday Goldman Sachs, JPMorgan, and Bank of America all downgraded the stock on the same day. Net income fell 35% year over year. Gross margin has declined for seven consecutive quarters. And the stock still trades at 38x forward earnings, a premium over the S&P 500 average of 22x.

This is what a slow-motion brand collapse looks like with a luxury multiple attached to it. The turnaround keeps getting pushed further out. Management promised growth by early 2027. Wall Street priced that in. Now it's late 2027 at best.

The scariest part: Nike is still the #1 sportswear company by market cap. If this is what #1 looks like, the rest of the industry is running a different race entirely.

[Business Explainer @businessXplain]

EXXARO SIGNS MAJOR DEAL WITH ESKOM

Exxaro Resources has signed a 17-year deal to supply 9.3 million tonnes of coal a year to Eskom’s Matla power station.

The contract replaces an expired 1983 agreement and runs until November 2043.

The R5.2bn Matla mine expansion, executed by Exxaro on Eskom’s behalf, is on track for completion in the first half of 2026.

Full story - https://t.co/Z7aJD3ZXdP

Pictured - Ben Magara (Exxaro CEO) and Dan Marokane (Eskom CEO)

[Reuters Africa @ReutersAfrica]

Chery Automobile aims to begin production by the end of 2027 at the South African plant it is acquiring from Nissan , where it also plans to make electrified vehicles, a senior executive at the Chinese automaker told Reuters. https://t.co/AQ6Dn5sWVK

[BusinessTech @BusinessTechSA]

South African beverages manufacturer, Twizza, has officially sold for R21 billion to a company owned by Indian billionaire Ravi Jaipuria.
https://t.co/KSIkLTs4Kq