Shoprite Holdings Ltd., Africa's largest grocer, reported a 6.4% rise in net income to 8.08 billion rand ($502 million) for the year ended June 28, while its dividend increased 12% to 8.73 rand, exceeding the 8.55-rand median estimate. The Cape Town-based company used the strength to expand beyond groceries, acquiring the Vida e Caffè coffee-shop chain and a majority stake in R&A Cellular. These moves give Shoprite greater exposure to quick-service restaurants and the technology and payments sectors.

The dividend beat reflects strong consumer demand and strategic growth into higher-margin businesses. Shoprite's expansion signals a broader retail transformation across Africa's evolving market landscape.