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BREAKING: Finally, ShopRite To Exit Nigerian Market After 15 Years

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South Africa’s grocery retailer ShopRite is leaving Africa’s biggest market, Nigeria, 15 years after it opened shop in the West African country.

LagosspyNG gathered that the company has been approached by potential investors willing to take over its Nigerian operations. Although, the company is considering an outright sale of its operation or selling a majority stake in its Nigerian subsidiary.

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation,” ShopRite said in a statement on Monday.

Recall that the announcement by ShopRite had came months after another South African brand, Mr Price, exited the market.

 

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