Monday, 08 March, 2021

Just In: Shoprite Announces Plans To Exit Nigeria


The Africa’s largest food retailer, Shoprite is making plans to exit the Nigerian market after posting continuous losses from its operations in the west African countries.

Shoprite said it was planning to discontinue its operations in Nigeria in a trading update filed at the Johannesburg Stock Exchange (JSE) on Monday morning.

“Following approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in  the retai  Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited,” the update read.

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time.”

Shoprite was launched in Nigeria nearly 15 years ago, opening its first store in Lagos in December 2005.

The business has since grown from one to more than 20 retail stores across Nigeria — including some of the biggest retail stores in west Africa.

0 comments on “Just In: Shoprite Announces Plans To Exit Nigeria

Leave a Reply

Your email address will not be published. Required fields are marked *

Recommended Hosting

Web Hosting

Recommended Hosting

Web Hosting

BlogMagazine Pro

BlogMagazine Pro is a premium plugin of BlogMagazine theme with cool and beautiful design which includes various layout, Social timeline options, posts/categories, typography options etc better way.

About Theme

BlogMagazine is a blog theme with cool and beautiful design which includes various layout to show your posts/categories in better way.It will works good as a Blog Website, or in categories like: Fashion, Sport, Design, Games Themes, Games and Blog

About Theme

BlogMagazine is a blog theme with cool and beautiful design which includes various layout to show your posts/categories in better way.It will works good as a Blog Website, or in categories like: Fashion, Sport, Design, Games Themes, Games and Blog

March 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  

BlogMagazine Pro

BlogMagazine Pro is a premium plugin of BlogMagazine theme with cool and beautiful design which includes various layout, Social timeline options, posts/categories, typography options etc better way

Ads Banner

Liverpool vs Atletico Madrid match to be investigated

Social Profile