- Market open
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- JSE Top 40–
- USD/ZAR–
- Shoprite–
- Pick n Pay–
- Boxer–
- SPAR–
- Tiger Brands–
- AVI–
- RCL Foods–
- Famous Brands–
- Spur–
- Mr Price–
- TFG–
- Pepkor–
- Woolworths–
- Truworths–
- Naspers–
- Prosus–
- Clicks–
- Dis-Chem–
- Cashbuild–
- Italtile–
- Lewis–
- Motus–
- Combined Motor Holdings–
- Hyprop–
- Resilient REIT–
- Vukile–
- Super Group–
- Karooooo–
- Capitec–
- Lesaka–
- MTN–
- Vodacom–
- Telkom–
Why commerceWe tradewhat weknow.
Artive works inside South African commerce every day: storefronts, checkouts, retail media and the numbers behind them. We watch how people shop long before it shows up in a trading update. Artive Capital puts that view to work in one sector, with money that is only ours to lose.
Today on the boardThe pulse of commerce.
Thirty-three commerce shares, eleven sectors, one screen. How the market is treating the companies behind South African shopping today.
- JSE Top 40
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- USD/ZAR
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- Watchlist breadth
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- Best today / Worst today
By sector
- Grocers
- On the shelf
- Eating out
- Fashion
- Platforms
- Health & beauty
- Home & build
- On the road
- Where we shop
- Moving goods
- Payments
Heatmap
Tap a share to load its chart.
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The watchlistEleven corners of commerce.
Every company on our list makes its money when South Africans shop, sell or pay. Tap a ticker to load its chart.
- 01The weekly shop
Grocers
Food and essentials: the most defensive spend in the country, and the fiercest price war.
- 02The brands we buy
On the shelf
Food and household brands sold through every grocer. Their margins show who is winning between supplier and retailer.
- 03Treats and takeaways
Eating out
Restaurants and fast food: the first spend people cut when money is tight, and the first to come back.
- 04Wants, not needs
Fashion
Apparel, footwear and homeware. First to feel a squeeze on disposable income, first to bounce.
- 05Commerce online
Platforms
Marketplaces, classifieds and delivery at global scale, owners of Takealot and Mr D here at home.
- 06Pharmacy retail
Health & beauty
Front-shop beauty and dispensary: steady traffic, strong loyalty programmes.
- 07Big-ticket baskets
Home & build
Building materials, tiles and furniture on credit. Sensitive to rates and to confidence.
- 08Cars and dealerships
On the road
Vehicle sales, rental and servicing: the biggest purchase most households make, and very sensitive to interest rates.
- 09Malls and centres
Where we shop
The shopping centres commerce happens in. Rents, vacancies and foot traffic show retail from the landlord’s side.
- 10Delivery and fleets
Moving goods
Logistics, last-mile delivery and fleet software: the roads every order travels.
- 11How the country pays
Payments
Banking apps, wallets, card machines and the networks behind them: the rails every sale runs on.
Live marketsThe board we watch.
Charts and technicals for every name on the watchlist. JSE prices here are delayed, so treat them as a view, not a feed.
Shoprite
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By sector
In the newsThe news behind the numbers.
Headlines about the companies on our list, gathered from South African business news every 15 minutes. Read the full story at the source.
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Headlines from Moneyweb, BusinessTech, TechCentral, Daily Maverick, Bizcommunity and Marketaux, matched to companies by name automatically, so the odd one may be off. Not advice.
Know the companiesThirty-three businesses, in plain words.
We only trade what we can explain. Here is how we read each company on the list: what it sells, how it makes its money, and what tends to move the share.
01 Grocers
ShopriteJSE: SHP–
- What it sells
- Groceries and household goods through Shoprite, Checkers, Usave and Checkers Sixty60 delivery.
- How it makes money
- Enormous volumes at thin margins, with Checkers and Sixty60 pulling in higher-spending shoppers.
- What moves the share
- Food inflation, market share against rivals and how fast Sixty60 keeps growing.
Pick n PayJSE: PIK–
- What it sells
- Groceries through Pick n Pay supermarkets and franchise stores.
- How it makes money
- Supermarket margins, now in the middle of a turnaround after spinning off Boxer.
- What moves the share
- Proof the turnaround is working: sales growth, store changes and a path back to profit.
BoxerJSE: BOX–
- What it sells
- Discount groceries for lower-income households, mostly outside the big metros.
- How it makes money
- Low prices, simple stores and high volumes. Spun out of Pick n Pay and listed on the JSE in 2024.
- What moves the share
- New store openings, like-for-like sales and whether it keeps winning price-sensitive shoppers.
SPARJSE: SPP–
- What it sells
- Wholesale supply to independently owned SPAR, TOPS and Build it stores, plus businesses abroad.
- How it makes money
- A distribution margin on everything its retailers buy, rather than running the stores itself.
- What moves the share
- The health of its retailers, its international operations and distribution costs.
02 On the shelf
Tiger BrandsJSE: TBS–
- What it sells
- Food and household brands such as Albany, Tastic, Jungle, Koo and All Gold.
- How it makes money
- Selling branded goods to every grocer in the country, and beyond.
- What moves the share
- Input costs, how far it can raise prices without losing volume, and retailers’ own brands.
AVIJSE: AVI–
- What it sells
- Brands such as Five Roses, Bakers, I&J and Ciro, plus Spitz and Green Cross shoes.
- How it makes money
- Premium branded margins in food, drinks and fashion.
- What moves the share
- Consumer volumes, input costs and the rand.
RCL FoodsJSE: RCL–
- What it sells
- Grocery brands such as Nola and Yum Yum, Sunbake bread and Selati sugar.
- How it makes money
- Branded groceries, baking and sugar sold through retailers.
- What moves the share
- Input costs, sugar prices and volumes on the shelf.
03 Eating out
Famous BrandsJSE: FBR–
- What it sells
- Franchised restaurants such as Steers, Debonairs Pizza, Wimpy, Fishaways and Mugg & Bean.
- How it makes money
- Royalties from franchisees, plus making and delivering the food and packaging they use.
- What moves the share
- How often people eat out, the health of its franchisees and food costs.
SpurJSE: SUR–
- What it sells
- Family restaurant brands such as Spur Steak Ranches, Panarottis, John Dory’s and RocoMamas.
- How it makes money
- Royalties and marketing fees from franchised restaurants.
- What moves the share
- Restaurant sales and how much families have left for eating out.
04 Fashion
Mr PriceJSE: MRP–
- What it sells
- Value fashion, homeware and sportswear through Mr Price, Sheet Street, Miladys and more.
- How it makes money
- Mostly cash sales at sharp prices, so it relies less on credit than many rivals.
- What moves the share
- How much money shoppers have left over each month, and its sales against rivals.
TFGJSE: TFG–
- What it sells
- Fashion, jewellery, homeware and sports through Foschini, Markham, @home, Totalsports and brands in the UK and Australia.
- How it makes money
- A mix of cash and credit sales across three regions.
- What moves the share
- The South African consumer, credit quality, the rand and trading in the UK and Australia.
PepkorJSE: PPH–
- What it sells
- Clothing, footwear, cellphones and financial services through PEP, Ackermans, Tekkie Town and others.
- How it makes money
- Low-price essentials for the mass market, plus fintech and financial services.
- What moves the share
- Spending by lower-income households, including when social grants and payouts land.
WoolworthsJSE: WHL–
- What it sells
- Premium food, fashion, beauty and home in South Africa, and Country Road Group in Australia.
- How it makes money
- Higher-margin food and a loyal, better-off customer base.
- What moves the share
- Food growth, the fashion business and trading in Australia.
TruworthsJSE: TRU–
- What it sells
- Fashion through Truworths and Identity, and Office shoes in the UK.
- How it makes money
- A large share of sales on store credit, so collections matter.
- What moves the share
- Credit quality, interest rates and the UK business.
05 Platforms
NaspersJSE: NPN–
- What it sells
- A holding company: it controls Prosus and owns Takealot and Mr D here at home.
- How it makes money
- The value of its stakes, above all in Prosus and, through it, Tencent.
- What moves the share
- Tencent’s share price, share buybacks and the discount to the value of what it owns.
ProsusJSE: PRX–
- What it sells
- Global consumer internet businesses: food delivery, classifieds, payments and a large Tencent stake.
- How it makes money
- Its operating companies plus the value of its Tencent holding.
- What moves the share
- Tencent, the profitability of its ecommerce businesses and buybacks.
06 Health & beauty
ClicksJSE: CLS–
- What it sells
- Health and beauty through Clicks stores and pharmacies, plus pharmaceutical wholesale.
- How it makes money
- Front-shop beauty spend and dispensary traffic, backed by a big loyalty programme.
- What moves the share
- Store growth, pharmacy and beauty sales, and margins.
Dis-ChemJSE: DCP–
- What it sells
- Pharmacy, health and beauty through Dis-Chem stores, plus wholesale.
- How it makes money
- Large-format stores with high foot traffic, and supplying pharmacies.
- What moves the share
- Margins, new stores and competition with Clicks.
07 Home & build
CashbuildJSE: CSB–
- What it sells
- Building materials and hardware, mostly to people building and fixing their own homes.
- How it makes money
- Cash sales in communities where people build in stages.
- What moves the share
- Construction activity, interest rates and how stretched household budgets are.
ItaltileJSE: ITE–
- What it sells
- Tiles, bathrooms and home finishes through CTM, Italtile and TopT, much of it made in its own factories.
- How it makes money
- Owning manufacturing as well as the stores, so it keeps more of the margin.
- What moves the share
- Housing activity, renovation spend and interest rates.
LewisJSE: LEW–
- What it sells
- Furniture and appliances through Lewis, Best Home & Electric, Beares and UFO.
- How it makes money
- Mostly on credit, so it earns from finance and insurance as well as the goods.
- What moves the share
- Collections on its credit book, interest rates and household finances.
08 On the road
MotusJSE: MTH–
- What it sells
- Vehicles, parts, rental and financing through dealerships and importing, in South Africa, the UK and Australia.
- How it makes money
- Selling, renting, financing and servicing vehicles across the whole car life cycle.
- What moves the share
- New vehicle sales, interest rates and trading abroad.
Combined Motor HoldingsJSE: CMH–
- What it sells
- New and used vehicles through franchised dealerships, plus car rental.
- How it makes money
- Vehicle sales, servicing and parts, and rental.
- What moves the share
- New vehicle sales and interest rates.
09 Where we shop
HypropJSE: HYP–
- What it sells
- Space in shopping centres such as Rosebank Mall, Canal Walk, Clearwater and Woodlands, plus malls in Eastern Europe.
- How it makes money
- Rent from the retailers in its centres.
- What moves the share
- Tenants’ trading, foot traffic, vacancies and interest rates.
Resilient REITJSE: RES–
- What it sells
- Space in dominant regional shopping centres across South Africa.
- How it makes money
- Rent from retailers, plus income from energy projects at its centres.
- What moves the share
- Tenant trading, interest rates and how its centres hold their catchment.
VukileJSE: VKE–
- What it sells
- Space in shopping centres in township, rural and commuter areas, and a portfolio in Spain.
- How it makes money
- Rent from retailers in centres that serve everyday shoppers.
- What moves the share
- Tenant health, interest rates and the Spanish business.
10 Moving goods
Super GroupJSE: SPG–
- What it sells
- Supply chain and logistics, fleet services and dealerships, in South Africa and abroad.
- How it makes money
- Contracts to move goods and to run and finance vehicle fleets.
- What moves the share
- Freight volumes, the economy and fuel costs.
KaroooooJSE: KRO–
- What it sells
- Cartrack vehicle tracking and fleet software, plus last-mile delivery for retailers.
- How it makes money
- Monthly subscriptions from a large base of drivers and fleets.
- What moves the share
- Subscriber growth, margins and the rand, since it also reports in dollars.
11 Payments
CapitecJSE: CPI–
- What it sells
- Everyday banking, cards, loans and business banking, largely through its app.
- How it makes money
- Fees on transactions and interest on loans to a very large client base.
- What moves the share
- Bad debts on its loans, client growth and transaction income.
LesakaJSE: LSK–
- What it sells
- Payments for merchants and financial services for consumers, including card machines and prepaid products.
- How it makes money
- Fees on payments and financial products for small merchants and lower-income consumers.
- What moves the share
- Growth in its merchant business and its path to steady profit.
MTNJSE: MTN–
- What it sells
- Mobile networks across Africa and the Middle East, plus MoMo mobile money.
- How it makes money
- Airtime, data and fintech, much of it outside South Africa.
- What moves the share
- African currencies, especially the naira, and the growth of its fintech business.
VodacomJSE: VOD–
- What it sells
- Mobile networks in South Africa and other African countries, plus M-Pesa and VodaPay.
- How it makes money
- Contracts, prepaid data and airtime, and a growing financial services arm.
- What moves the share
- Data prices at home, its businesses elsewhere in Africa and fintech growth.
TelkomJSE: TKG–
- What it sells
- Mobile, Openserve fibre and business IT through BCX.
- How it makes money
- Data and connectivity for homes, businesses and other networks.
- What moves the share
- Mobile growth and competition in fibre and data.
CalendarWhat moves the market.
Rate decisions, inflation and retail trade sales move commerce stocks more than most. These are the South African releases we plan around.
- 01
Repo rate
SARB rate decisions set the cost of credit, and with it, big-ticket and credit retail.
- 02
Inflation
CPI shows the squeeze on the basket, and on grocer margins.
- 03
Retail trade sales
Stats SA’s monthly read of what South Africans actually spent.
How we tradeRules before returns.
Our own money only
We trade the Artive group’s own capital. We don’t take deposits, manage money for anyone else or run a fund.
Sector first
We only trade companies in commerce. If we can’t explain how a business makes its money, we don’t trade it.
Risk set before entry
Every trade has an entry, an exit and a stop before it is placed, and is sized so no single trade can hurt the business.
Flat by the close
We are day traders. Positions open and close inside the JSE session, so we carry no overnight risk.
Client work stays separate
We trade on public prices, results and news only. A listed company Artive works for is off our list while we work for it.
Every trade logged
We journal every trade and review the numbers each week. The market marks our homework daily.
Words we useThe glossary.
- Bid and offer
- The bid is the best price a buyer will pay right now; the offer is the best price a seller will accept.
- Spread
- The gap between the bid and the offer. A wide spread makes a trade more expensive to get in and out of.
- Liquidity
- How easily a share trades without moving its price. Big names like Naspers are liquid; smaller ones can jump on a single order.
- Stop
- The price at which a losing trade is closed, set before the trade is placed.
- Position size
- How much goes into a trade, chosen so that hitting the stop costs an amount we’re prepared to lose.
- Day trade
- A trade opened and closed in the same session, so nothing is held overnight.
- Closing auction
- The ten minutes at the end of the JSE day when the closing price of each share is set.
- JSE Top 40
- An index of the 40 largest companies on the JSE by market value. The market’s headline number.
- Cents (ZAc)
- JSE shares are quoted in cents. A share at 31,900c costs R319.00; this site shows rand.
- Trading statement
- A JSE-listed company must publish one when it is reasonably sure its results will differ by at least 20% from the previous period.
- Market value
- The share price multiplied by the number of shares: what the market says the whole company is worth.
- Delayed prices
- Prices shown some minutes behind the live market. Everything on this site is delayed.
FAQStraight answers.
Something else? Email us
No. Artive Capital trades only the Artive group’s own money. We don’t accept deposits, manage anyone else’s money or offer investment products.
No. Nothing on this site is advice or a recommendation to buy or sell a share. If you’re thinking of investing, speak to a registered financial adviser.
It’s the sector we know from the inside. Artive Commerce works on stores, checkouts and retail media every day, so we understand how these businesses win and lose customers.
No. We trade on public information only, and a listed company Artive works for is off our list while we work for it.
Prices are delayed JSE prices from Yahoo Finance, drawn with TradingView’s open-source charting library. The technical gauge and the calendar are TradingView widgets. Check a live feed before you rely on a number.
Headlines are gathered automatically from Moneyweb, BusinessTech, TechCentral, Daily Maverick, Bizcommunity and Marketaux, and matched to the companies they name. We show the headline and link to the publisher; we don’t write, edit or endorse the stories.
Artive Commerce is our creative commerce agency. Artive Ventures is our R&D lab and venture studio. Artive Capital is the trading desk. Same group, same obsession with commerce.
We don’t take outside money, but we always like talking markets and commerce.
For media, research and partnership questions, send us an email.