The South African government’s proposed value-added tax (VAT) increase could derail a fragile recovery in consumer spending, warns Pieter Engelbrecht, CEO of Shoprite Holdings Ltd., the continent’s largest supermarket chain. “The two things that really worry me are the incredibly high cost of food and high unemployment,” Engelbrecht said. Consumer spending has recently shown signs … Continue reading South Africa’s Largest Grocer Warns VAT Hike Will Hurt Shoppers