Shoprite To Pull Operations Out Of Nigeria
August 3, 2020
7:49 am
One of Africa’s biggest grocery retailer, Shoprite, has indicated plan to exit the Nigerian market 15 years after it entered the country.
The company disclosed this in a statement titled: “Operational and Voluntary Trading Update (52 Weeks Ended June 28, 2020), seen by THISDAY on Monday.
“Following approaches from various potential investors and in line with our re-evaluation of the Group’s operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited.
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