South Africa’s grocery store, ShopRite, has announced plans to discontinue operation in Nigeria after operating in the country for a period of 15 years.
In a statement on Monday, the company said it has been approached by potential investors willing to take over its Nigerian operations. So, it is considering an outright sale of its operation in its Nigerian subsidiary.
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Shoprite announced a 6.4 per cent increase (R156.9 billion) in total sales of merchandise for the outgoing year despite the challenges posed by the COVID-19 pandemic, announced that it took the decision to discontinue its Nigeria operation “following approaches from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria.”
