Khula Retail — Appendices
Supporting detail and reference material underpinning the Khula Retail business plan.
Section 15 · Business Plan
Appendices
Supporting detail and reference material underpinning the Khula Retail business plan.
Appendix A — Glossary of Terms
| Term | Definition |
|---|---|
| BBBEE | Broad-Based Black Economic Empowerment — South African policy framework promoting economic transformation |
| BCEA | Basic Conditions of Employment Act — South African labour law |
| CIPC | Companies and Intellectual Property Commission — SA companies registry |
| EBITDA | Earnings before interest, tax, depreciation and amortisation |
| FMCG | Fast-moving consumer goods |
| IRR | Internal Rate of Return |
| KVI | Known Value Item — SKU on which customers actively price-shop |
| LSM | Living Standards Measure — South African socio-economic segmentation tool |
| NPAT | Net Profit After Tax |
| NPV | Net Present Value |
| POPIA | Protection of Personal Information Act, 4 of 2013 |
| POS | Point of Sale |
| Q-commerce | Quick-commerce — same-hour delivery e-commerce |
| SAM | Serviceable Addressable Market |
| SARS | South African Revenue Service |
| SBC | Small Business Corporation — preferential tax regime under section 12E of Income Tax Act |
| SEFA | Small Enterprise Finance Agency |
| SKU | Stock-Keeping Unit |
| SOM | Serviceable Obtainable Market |
| TAM | Total Addressable Market |
| VAT | Value-Added Tax (15% in South Africa) |
| WACC | Weighted Average Cost of Capital |
Appendix Table A1. Glossary of acronyms and technical
terms
Appendix B — Sources & References
This Plan draws on a combination of primary research conducted by the
founding team, structured catchment surveys, and publicly available data
from the sources listed below. Full source documentation is available on
request as part of the formal due-diligence pack.
- Statistics South Africa — Retail Trade Sales Statistical Release
P6242.1 (monthly) - Statistics South Africa — Living Conditions Survey and General
Household Survey - South African Reserve Bank — Quarterly Bulletin and Monetary
Policy Statements - IMARC Group — South Africa Retail Market Report
2025–2034 - Euromonitor International — Retail in South Africa Country Market
Insight - GlobalData — South Africa Retail Market Size by Sector and
Channel to 2027 - Wikipedia (Retailing in South Africa) — for sector overview and
chain summaries - South African Revenue Service — VAT and customs duty regulatory
updates - National Treasury — Budget Review 2025/26 and small business tax
provisions - Finfind & African Bank — 2025 South African MSME Access to
Finance Report - Shoprite Holdings — State of the SMME in South Africa 2025
Report - UNDP — Policy Brief: Unlocking SME Finance in South Africa
(2024) - Khula Retail — Catchment Survey of 412 Households (November 2025,
primary research) - Khula Retail — In-principle terms from buying group, suppliers
and lenders (commercial-in-confidence)
Appendix C — Founders’ CVs (Summary)
Detailed curricula vitae for each founder are available as a separate
due-diligence pack, including verifiable employment references and
qualification certificates. Summary details are presented in Section
9.
Appendix D — Detailed Financial Schedules
The following detailed schedules are available in the supplementary
financial pack and have been used to compile the projections in Section
11:
- Monthly profit & loss for Year 1 (24 line items × 12
months) - Monthly cash flow for Years 1 and 2
- SKU-level revenue and margin build by category
- Detailed capex schedule with supplier quotes
- Loan amortisation schedules
- Tax computation per Section 12E SBC scale
- Working capital and debtor/creditor day calculations
- Three-statement model with audit trail
Appendix E — Document Control
| Item | Detail |
|---|---|
| Document title | Khula Retail (Pty) Ltd — Investment-Grade Business Plan |
| Document reference | KHL-BP-2026-001 |
| Issue date | April 2026 |
| Plan horizon | March 2026 – February 2031 (5 financial years) |
| Confidentiality classification | Strictly Confidential — Recipient Use Only |
| Prepared by | The Founding Team, Khula Retail (Pty) Ltd |
| Reviewed by | Independent Financial Advisor (CA(SA)); Retail Strategy Consultant |
| Next review date | Quarterly (and on material business event) |
Appendix Table E1. Document control summary
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Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Khula Retail (Pty) Ltd.