Food prices could fall – economists

SOUTH AFRICA - Despite South Africa’s bleak macro-economic outlook and political turmoil, there is at least one thing consumers can smile about – food is set to become cheaper thanks to a record-breaking maize harvest estimated for this year.

Seven-Up losses pile up as finance charges skyrocket

NIGERIA - Seven-Up Bottling Company Plc (“SBC”), the bottler of PepsiCo brands of soft drinks in the country, on Friday reported a net loss of N2.5bn for the first quarter of its 2017/2018 financial year (Apr – Jun) despite recording nearly 20% sales growth in the period.

Pick n Pay warns of a 20% drop in earnings

SOUTH AFRICA - Retailer Pick n Pay on Monday flagged that both headline earnings and earnings a share would drop more than 20 percent in the half year to June as costs related to its voluntary severance programme (VSP) weighed heavily on its balance sheet.