30.4 C
Ilorin
Friday, June 9, 2023

Support a life

Shoprite exits Nigeria after 15 years

You can now read in English, Yoruba, Igbo and Hausa. Click translate button!

Bukky Abioye

Africa’s biggest grocery retailer, Shoprite is leaving the continent’s most populated country, Nigeria, after 15 years.

The Cape Town-based retailer has begun a formal process to consider the potential sale of allotting a majority stake in its supermarkets in Nigeria.
South African retailers have struggled in the Nigerian market and most recently Mr. Price has exited the market after Woolworths did the same six years ago.
In the statement, Shoprite said the results for the year do not reflect any of their operations in Nigeria as it will be classified as discontinued information.
International supermarkets (excluding Nigeria) contributed 11.6% to group sales and reported a 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and had an 8.7% rise for the year.
As a result of lockdown, the customer’s visits declined by 7.4% but the average market increased by 18.4%.

Receive Alerts on: Whatsapp: +2348102005064, Twitter: @marsteinnews
Share your story with us: Whatsapp: +2348102005064, Email: news@marsteinnews.com

Maruf Ajimatihttps://marsteinnews.com
Maruf Ajimati is the Chief Editor of the Marstein News which is aimed at publishing both local and international information in a justified, and accurate manner in the Federal Republic of Nigeria.

Related Articles

Never Give Up, A Poem

Don't stop till you reach the top,Allow not your mind to be clouded,With desolation of the blinding days,With a spring always walk...

In the Beginning – Review

Hello! Hellooo! Hellooooo! Happy New Month Everybody! I am so excited, Q1 of 2021 is ending.

Nigerian Governors have rejected store up of COVID-19 palliatives.

Biodun Bakare Nigerian Governors have rejected  store up of COVID-19 palliatives. The governors reject this  in response  to the looting of diverse  warehouses all over the country  after the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

564FansLike
3,987FollowersFollow
1,097SubscribersSubscribe
- Advertisement -

Latest Articles

Never Give Up, A Poem

Don't stop till you reach the top,Allow not your mind to be clouded,With desolation of the blinding days,With a spring always walk...

In the Beginning – Review

Hello! Hellooo! Hellooooo! Happy New Month Everybody! I am so excited, Q1 of 2021 is ending.

Nigerian Governors have rejected store up of COVID-19 palliatives.

Biodun Bakare Nigerian Governors have rejected  store up of COVID-19 palliatives. The governors reject this  in response  to the looting of diverse  warehouses all over the country  after the...

#EndSARS:Lagos state commence investigation on lekki toll gate .

Biodun Bakare The Lagos State governor, babatunde Sanwo-Olu , says that the Justice Doris Okuwobi-led Judicial Panel of Inquiry and Restitution set up last Monday to...

Ilorin looting: Kwara state Governor announces curfew

The Kwara state governor, AbdulRahman AbdulRazaq has declared a 24hrs curfew starting at midnight on Oct. 24th. This announcement came moments ago on the...
Translate ยป