Shoprite plans to leave Nigeria

Nigerians React As ShopRite Sets To Exit Nigeria After 15 ...

The supermarket retail giant, Shoprite, has announced it is considering a sale of all or majority stake of its business in Nigeria. In a statement released by Africa's biggest supermarket, the company said that the are reevaluating it's business model in Nigeria. 

The South African supermarket has been in Nigeria for over 15 years and have invested over $30 billion in the country which have left some people to wonder if they will close shop after such a huge investment in Africa's biggest economy. They company have reported that have been approached by many investors to takeover the Nigeria business.

Shoprite has also initiated processes to sale all or majority of its stake in Nigeria.


    "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," read the company's statement.

    The company, with 2,372 outlets in 15 countries in Africa, also released its trading statement for 52 weeks to end June. Over 2,000 Nigerians are employed by Shoprite.
    In the trading statement, it announced that its South African division grew by 8.7% while sales at its supermarkets outside South Africa (excluding Nigeria) fell by 1.4%.
    Some Nigerians have taken to social media to react about the sale of Shoprite

    eet

    Conversation

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    @Joseph_Offia
    Replying to
    @ShehuSani
    Thousands,of jobs, if not millions would be lost. The supermarket chains can’t fill those gap! This statement is reckless, the taxes & vat the country raise from them can’t be reckoned to what any supermarket will pay.
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    H-A-J-A-R-A-H
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    @HAJARAHTUH
    Replying to
    @ShehuSani
    They should go Nigerians need to wake up to reality Let's bring out the potentials in us. Everyone has the potential to be great We need to push ahead
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    STAY SAFE
    @olumayowabobo
    Replying to
    @ShehuSani
    Chai nothing works in Nigeria again. Granted things are not easy worldwide but misrule and clueless leadership is making Nigeria case worst. PMB is taking Nigeria Back to the 1980s. Shoprite
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    Etin Christ
    @PeterOmo7
    Replying to
    @ShehuSani
    How many super market in Nigeria like shoprite in Nigeria? What has kept Nigerian from having a supermarket like shoprite since independence? When there is a problem leaders need to come to table and brainstorm. This ban ban ban is evil. It’s not good.
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    Etin Christ
    @PeterOmo7
    Jesus said it’s more blessed to give than 2 receive. It’s a law. When you give to another nation, you get blesssed. Foreign investors is a way of giving. They help grow our economy. If Nigerian don’t start identifying their problem and start fixing , we will be like Mauritania.
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