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NaijaSubway.com Forums and Discussion Business Shoprite Exiting Nigeria After 15 Years And It's Effect on Nigerians!

  • Shoprite Exiting Nigeria After 15 Years And It's Effect on Nigerians!

    Discussion started by NaijaSubway on August 3, 2020 at 11:04 AM

    Grocery Retailer Shoprite will be exiting Nigeria (the most populous country in Africa).

    The giant South Africa based retailer has decided to sell the majority of its stake in Nigeria due to loss of sale.

    A decline of 7.4% in customer’s visit and an increase of 18.4% in average spending, this comes after the effect of lock-down enforced by the Nigerian government due to Covid-19.

    There is a ray of hope as reports confirmed there are some investors willing to buy their stakes and further turn the giant retailer into a world-class supermarket.

    What should an average Nigerian expect from their exit, will this help develop more local SMEs or further extends the power at the top?  

    New reply 2 years ago by NaijaSubway 1 Member · 0 Replies
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NaijaSubway.com Forums and Discussion Business Shoprite Exiting Nigeria After 15 Years And It's Effect on Nigerians!

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