Shoprite has joined the growing list of SA companies having second thoughts about Nigeria, following Tiger Brands and Mr Price. Other companies including Nampak and MTN have also had a tough time in Africa's biggest market, with volatile exchange rates and problems repatriating earnings amongst the problems they have encountered there, not to mention local regulations.

In an otherwise strong trading statement yesterday, Shoprite reported soft sales from its operations outside SA and said Nigeria was being accounted for as a discontinued operation after potential investors showed interest in buying Retail Supermarkets Nigeria.

Meanwhile, the retail sector in the UK continues to battle and shopping centre owner Hammerson is feeling the pressure. It has confirmed speculation that it's considering a rights issue and is also in talks to sell its stake in a joint venture as it shores up its defences.

Also in your newsletter today, Renergen is ready to start drilling the first well at its Virginia Gas Project in the Free State, Etion has warned of a wider full year loss and Impala Platinum will have a new chair following its annual general meeting in October. Read on to find out who it is.

Finally, the latest Searchlight report by Ingham Analytics reveals why gold is nudging $2,000 an ounce as it continues to reach new highs - and it's not hyperinflation. You can get full access to all the good quality, independent, and reliable research reports from the Ingham Analytics team as soon as they are released by subscribing. Find all the details here.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect

The latest from Ingham Analytics

Forget hyperinflation as the reason for gold nudging $2,000/oz. The answer lies in the US 10-year Treasury. Gold is rising at the same time as Treasury interest rates are falling. Odd? Quite the contrary say Ingham Analytics in "Bedazzled". If we thought central banks were "Forever blowing bubbles..." of epic proportions then gold is having its heyday too. If the objective of quantitative easing, inter alia, is to con the populous that inflation is imminent, it's been a dismal failure as the reverse has happened. So what to do?

Interested in Sasol? Then Ingham Analytics has a new note that'll go out on Wednesday. It is called "Going, going for a song" - and that is not a reference to the share price.