Shoprite to leave Nigeria: Retail company Di has put up for sale a dia pour di kontri supermarket in West Africa, as the Woolworths group did years ago – See the main reason for the divestiture by dia
Retail company Shoprite, which is Africa’s number one supermarket chain, announced on Monday that it plans to end its trading activities with Nigeria.
The South African company, which opened its first store in Lagos in 2005, said it had found a buyer for its business inside West African territory.
Shoprite’s move comes at a time when Nigeria’s economy is struggling amid coronavirus pandemic
This has come as a shock and surprise to many Nigerian shoppers and customers, who consider Shoprite to be one of the biggest supermarkets for the market, especially since signs saying they don’t show up say they struggle.
“The board has not decided to formally consider selling all or the majority of the shares of Retail Supermarkets Nigeria Limited, as a subsidiary of Shoprite International Limited,” the report said.
With 25 stores across Nigeria, Shoprite employs at least 2000 pipo wey being Nigerians alone.
Shoprite’s public relations consultant for Nigeria, Mr. Ini Achibong, told the BBC that the company would not find investors to buy and saying nothing would not change the operation in Nigeria at this time.
Shoprite says lockdown restrictions due to the coronavirus are not affecting dia operations in 14 African kontris, with a 1.4% reduction in sales for distribution markets.
Shoprite yan for the latest financial report says xenophobic attacks are good for Nigeria in September 2019 and are affecting them.