Annual Report




Our six capitals

Our ability to create long-term sustainable value for stakeholders depends on the use of various capitals within our business. The International Integrated Reporting <IR> Framework supports integrated financial reporting, and, in particular, the reporting of the Group's business model across these six forms of capital. Refer to "Our business model" on pages 20 to 21 for more information.




Social and relationship



Our key stakeholders

The Group is committed to open and constructive engagement with all our stakeholders. Our business model and strategy are designed to consider and address the issues and concerns most relevant to our key stakeholders. Refer to the "Engaging with our stakeholders" section on pages 38 to 41 for more information.







Our business acceleration pillars

The second stage of our strategic long-term plan is organised around seven business acceleration pillars. These pillars represent the material growth opportunities that can materially affect our ability to create value over the short, medium and long term. Refer to our "Strategic focus" section on pages 44 to 51 for more information.

Better for customers

A flexible and winning estate

Efficient and effective operations

Every product, every day

A winning team

a national brand

Rest of Africa – a second engine of growth


Case study: Developing and retaining skills


Pick n Pay offers over 330 training
programmes to employees, ranging from
basic literacy and numeracy through to
computer-based training and management
and leadership programmes.


The sustainable success of
any business depends
on the quality of its
people and processes.

A successful retail business is dependent on a skilled workforce. Good skills ensure effective and efficient management and delivery of our products and services, and better customer service. Staff who develop their skills are able to advance more quickly through the organisation and are more likely to stay with the Group. We offer over 330 training programmes to employees, ranging from basic literacy and numeracy through to computer-based training and management and leadership programmes. We operate a robust career development framework to help our employees to meet their career goals.

Our Chartered Accountant (SA) and graduate training programmes are aimed at attracting talented young people into the business and developing them to join our management team. Our corporate academy seeks to fast-track the development of a pool of managers for our stores. The training programmes provide exposure and experience in all areas of the business, including on-the-job training supported by formal training courses. Graduates are assessed throughout the programme for suitability and possible placement in various areas of the business.

To build our talent pipeline, we offer learnership programmes that focus on scarce skills, particularly in the bakery and butchery sectors. Up to 100 learners are taken on each year to complete first-level qualifications. We seek to attract young talent at local Technical Vocational Education and Training (TVET) colleges in order to build a pool of local, skilled workers that can be recruited into their local community stores. Our leadership development programmes, accredited by formal tertiary institutions in South Africa, have been very successful in providing the business with future leaders.