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Shoprite to leave Nigeria after 15 years

Valentine Chinyem



Africa’s biggest grocery retailer, Shoprite, has announced its decision to stop all operations in the continent’s most populated country, Nigeria.

The South African based retailer, who moved to Nigeria 15 years ago, said it has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria.

This was made known in a trading statement for the 52 weeks to end June released on Monday morning.

Mr Price another South African retailer left Nigeria most recently, just six years after Woolworths did the same.

In the statement, Shoprite said the results for the year do not reflect any of their operations is Nigeria as it will be classified as discontinued operation.

International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.

As a result of lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.