South African Shoprite Billionaire Wiese Returns to His Diamond-Hunting Roots [BNN Bloomberg (Canada)]
SHOPRITE HLDGS LTD S/ADR (SRGHY)
NASDAQ:AMEX Investor Relations:
shopriteholdings.co.za/investor-centre.html
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Source: BNN Bloomberg
The 82-year-old serial investor, who steered the expansion of both Africa's biggest clothing retailer and the continent's largest grocer, has dived into something that harkens back to the start of his storied career nearly half a century ago: diamonds. “I've always been fascinated by diamonds because it's that amazing industry where you plod along and then one day stumble on a big stone that can change your whole life,” Wiese said over lunch at the summer-green vineyards of Beau Constantia, a wine farm in Cape Town. “This stretch of the Atlantic Ocean produces some of the world's highest-quality diamonds.” The theory goes that the more than 2.5 billion-year-old Kaapvaal Craton and shifting continental plates transported diamond-bearing detritus down South Africa's Orange River to the south-western coast of the continent. It is here that Wiese dreams of finding a “big one,” leading the self-made tycoon over the last few years to spend at least some of his eight-hour work days on h
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News
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- South Africa's SPAR steps up battle for affluent and discount shoppers [Reuters]Reuters
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- Africa's Largest Grocer Boosts Sales by Avoiding Price Increases [BNN Bloomberg (Canada)]BNN Bloomberg
- Business Exodus From Nigeria Won't Last, Billionaire Wiese Says [BNN Bloomberg (Canada)]BNN Bloomberg