Shoprite to leave Nigeria after 15 years

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Africa’s biggest grocery retailer, Shoprite, is exiting the continent’s most populated country, Nigeria, after 15 years.

The Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released on Monday.

In the statement, Shoprite said the results for the year do not reflect any of their operations in Nigeria as it will be classified as a discontinued operation.

International supermarkets (excluding Nigeria) contributed 11.6% to group sales and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.

As a result of lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.

11 Comments

  1. This should an advantage for our wealthy people to establish our own mall. Before we are the one working in that mall.

  2. Soon most of all these shops will close down as online shopping is becoming more popular. Who get time to go to Shoprite or any other offline shops when he can order for his needs online and its delivered to his doorstep pronto

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