Shoprite Exit Nigeria : Commence Process to Leave Nigeria

Shoprite Exit Nigeria , See Why

Exit Nigeria 

commence process to Leave Nigeria. 

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Why leaving now Nigeria 

Africa’s largest food retailer, has commenced planning to exit the Nigerian market after posting continuous losses from its operations in the west African country.

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According to the  Johannesburg Stock Exchange (JSE) on Monday morning, the retail giant said it was planning to discontinue its operations in Nigeria.

“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 sake of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of International Limited,” the update read.

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

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

Exit Nigeria, leaving now Nigeria

That chain has grown from one to more than 25 retail stores across Nigeria — including some of the biggest retail stores in west Africa.


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