Shoprite: Counters Closure Claims, Says It’s An Opportunity For Nigerian Investors

We reported earlier today the intention of shoprite to discontinue market in Nigeria. See details of earlier report in the link below, In a twist of event however, the Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard, said: “Shoprite is not leaving Nigeria. According to him, “We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion invest and close shop? It doesn’t sound right. “I have tried to…

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Shoprite Plans To Discontinue In Nigeria

Shoprite, the South African retail outlet has announced the commencement of a formal process to discontinue its operation in Nigeria. Shoprite Holdings Limited made the announcement on Monday in its operational and voluntary trading update for the year ended on June 28, 2020. The multi-national retail group, which announced a 6.4 per cent increase (R156.9billion) 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…

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