Shares in South Africa’s biggest retailer jump 5%

• Shoprite's shares indeed jumped 5% as the company expects earnings to rise up to 14.7% due to higher sales at its e-commerce unit.
• The company's e-commerce unit, Sixty60, saw a 35% revenue increase to R25.5 billion for the year, contributing to the expected earnings growth.
• The share price increase is a positive sign for the company, but it remains to be seen how it will compete with other retailers, including Walmart Inc., in the South African market.