South Africa’s biggest grocery retailer, Shoprite, has disclosed the commencement of a formal process to discontinue its operations in Nigeria
Shoprite Holdings Limited made this known on Monday, August 3, 2020 in its operational and voluntary trading update for the year which ended on June 28, 2020.
Part of the release statement pointed out that “Despite difficult circumstances, in a year incorporating the COVID-19 lockdown and accompanying regulations governing trade, transport, and operations, the Group increased total sale of merchandise for the 52 weeks to 28 June 2020 (including the impact of hyperinflation in the prior year) by 6.4% to approximately R156.9 billion. Like-for-like growth for
the year was 4.4%.
The company over its 15 years of existence in Nigeria has provided jobs opportunities for more than 2,000 Nigerians,and has established more than 25 stores across eight states of the Federation including the Federal Capital Territory, Abuja.
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