The Joburg Market (JM) announces a R9.4 billion turnover at the end of May 2023. As the leading fresh produce market in the country, this signals an unstoppable growth in both revenue as well as profits for the agriculture industry, demonstrating its value and viability as a municipality-owned entity.
The JM has experienced an unwavering demand for fruits and vegetables sold at the Market, largely to big retailers such as Food Lovers, Spar, and Shoprite Checkers, among many others.
The Joburg Market is wholly owned by the City of Johannesburg. To propel its growth, Joburg Market has invested its revenue in upgrading its infrastructure. Recently, it resurfaced some of its roads, and repaired multitudes of potholes that resulted from the recent rainy season.
The JM is also working hard to stabilise its electricity system, which continues to be affected by sporadic incidents of cable-theft and loadshedding. It has acquired three new 2MVA generators, which are being installed now, and are expected to be commissioned and operational by the end of June 2023. The JM’s banana-ripening facilities and cold rooms are receiving urgent maintenance and repairs to ensure optimal functioning.
Recently, the JM launched the Tshiamo Market, a 4025m² fruit and vegetable trading platform within its premises, which is modernised and constructed to provide 94 informal traders with sheltered sales space, bulk storage and cold refrigeration facilities.
This intervention will harness economic activities in the fresh-produce trade and generate growing figures of business for market-agents and farmers who supply the Market.
“We are very pleased with this progress. It’s a milestone for us, and indicates very bright prospects for the business. The reinvestment in our infrastructure cannot be over-emphasised. We are working hard to grow and transform the Joburg Market into a smart market, which delivers business-friendly innovations and trading systems which guarantee food security, coupled with a handsome return for the shareholder,” says Solomon Mphakathi, the Joburg Market’s Acting Chief Executive Officer.
02/06/2023