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Pepkor aims to tap higher income shoppers with rebranded womenswear storesPepkor, the South African company behind the PEP and Ackermans discount clothing brands, plans to make its womenswear stores more upmarket to tap mid-to-upper income shoppers as it seeks a bigger share of the adult wear market.The retailer, which also sells electronics, has a dominant market share in children's wear in South Africa through its largest business PEP alongside Ackermans.In the last five years it has been expanding into womenswear through its Ackerman's Woman standalone stores.Last year it began a review of the Ackermans Woman offering, with a footprint of 57 stores, and has now decided to revamp it.Chief Operations Officer Sean Cardinaal told investors that the retailer will launch the new rebranded and revamped womanswear format stores towards the second quarter of 2025."On the proposition, it will be aimed far more at the mid-to-upper end market segment," he said."We really believe this will be a strong step forward in Pepkor's strategy to gain more market share in womenswear."-REUTERS-MTN Uganda to sell shares left over from undersubscribed 2021 IPOTelecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said on Saturday.The Uganda unit of South Africa's MTN Group has received regulatory approval for the extra share sale, MTN Uganda said in a statement published in The East African newspaper.When it listed on the Ugandan stock market three years ago, MTN Uganda sought to sell 20% of its shares to local investors to fulfil regulatory requirements, but only met 60% of that target.MTN Uganda said it will sell the shares on the secondary market of the Uganda Securities Exchange (USE) between May 27 and June 10.The company has a subscriber base of about 15 million people and also offers mobile money financial services. Its main competitor is the local unit of Bharti Airtel.-REUTERS-JPMorgan says BHP plan risks R78.8 billion South African outflowA successful takeover of Anglo American Plc under the arrangements BHP Group has offered could lead to outflows of US$4.3 billion (around R78.8 billion) from South Africa, according to a JPMorgan Chase & Co analysis.Such an outflow, if a deal goes ahead, could weaken the rand, which has gained 4.4% against the dollar, the most of 16 major currencies tracked by Bloomberg, over the last five weeks.The deal, proposed by BHP and rejected by Anglo, would involve Anglo distributing its holdings in its South African iron ore and platinum units to shareholders. That, according to JPMorgan’s South African mining analyst Catherine Cunningham, would lead to developed-market investor index funds selling the unbundled stocks, resulting in the outflow.While Anglo has spurned BHP’s US$49 billion bid, it has agreed to talk to the company, which must now make a firm offer by 29 May.“There is now a materially higher probability that BHP will reach an agreed deal,” she wrote in the 23 May note to clients. “We see downside risk to the share prices of both Amplats and Kumba.”Cunningham didn’t assess the potential impact on the rand.According to her analysis, developed-market funds would sell US$9.4 billion in stock and US$5.1 billion would be bought by emerging-market investors, resulting in the net outflow. JPMorgan estimated the index fund holdings in Anglo American based on publicly available data.“Locals will not sell anything, developed market index funds will sell every share they receive and DM active and others will sell 90% of what they receive,” Cunningham estimated. “EM active funds will buy 50% of what’s for sale.”-MONEYWEB- Santam snaps up online marketplace KanduaShort-term insurance specialist Santam has acquired Kandua, a technology company that provides an online marketplace for home services.Kandua will be merged with Santam’s existing home service offering, Home+, forming a wholly owned, independent subsidiary of the insurer. The value of the acquisition was not disclosed.Kandua was founded by entrepreneurs Sayo Folawiyo and Arjun Khoosal in 2014 to help small businesses grow by connecting professional services firms with consumers. Folawiyo will continue to serve as CEO of Kandua post-acquisition.On average per month, Kandua connects around 40 000 vetted home service companies to about R50-million worth of work opportunities from individual and business customers.Sanlam said in a statement on Monday that the Kandua website offers an online marketplace for home services that allows consumers to connect with, compare and hire professionals across hundreds of service types, including plumbers, electricians and carpenters. Service providers can use the Kandua for Pros app to find new customers.“Kandua’s talent, technology and customer base are valuable assets for our business, as it opens new avenues for client growth and digital innovation. The business has an established technology and extensive network of customers,” said Gloria Tapon-Njamo, CEO of Santam Partnership Solutions, the Santam Group division focused on building partnerships across industries to develop innovative products, diversify revenue and expand into untapped market segments.-TECHCENTRAL-

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