Shoprite as reportedly confirmed plans to leave Nigeria after 15 years.
The South African Company, Shoprite in a statement are closing due to some challenges faced by the COVID-19 pandemic and other issues best known to them.
“We are really going to focus on South Africa in a more concentrated way.”, Chief Financial Officer of Mr. Price, Mark Stirton said. We can’t leave out Woolworths , who also left Nigeria in 2014.
In a statement made by Shoprite, they plan on selling a major stake of operations.
“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
“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time.”
See Reactions Below:
- @chubiei – Shoprite leaving Nigeria is a good thing, these south Africans were gradually taking over our economy. Next should be MTN & DSTV!.
- @vhic_tore – Dear slay mamas, bear in mind that it’s shoprite that’s leaving not the malls. You’ll still have places to take your pictures, without the yellow nylon though.
- @dondekojo – Shoprite couldn’t compete with the new entrepreneurs we supported with Trader Moni.
- @Mazigburugburu1 – Finally,the Buhari inefficiency has fingered Shoprite;like everything else. The silence from the 30k a month crew is cos they are right now in their WhatsApp group waiting for talking-points on how to spin this one.Let me give them a key:blame it on Covid. The GEJ angu is stale.
- @Tife_fabunmi – Shoprite can decide to leave Nigeria, as long as God isn’t leaving us, we go dey alright.
- @BiyiThePlug – Shoprite is leaving Nigeria, a lot of Shoprite workers will remain unemployed, most won’t get a new job anytime soon, how will a married man feed his family?
- @dammiedammie35 – So shoprite is leaving Nigeria,thousands of people will be without jobs now,other thousands depending on those people’s incomes,my new neighbor works with shoprite in Ibadan&he has 3kids,his wife is a private school teacher and haven’t worked in a while,so many people like that.
- @mr_adebayo5 – Shoprite leaving Nigeria doesn’t mean the buildings will be closed, it just means new business owners will take over.
- @SamuelOtigba – Asides the political bottlenecks & chaotic business strains associated with doing business in Nigeria, one other silent contributing factor why Shoprite is closing down, is staff theft. In 2017 alone, a sales girl stole N553M, one month after securing the job. There are many.
- @Capt_Aliyu – My only problem with shoprite leaving nigeria is where will our Kaduna people that normally come to kano to snap pictures go again, it’s sad you know. But I don’t mind them leaving sha bc it’ll help small market grow, I’m just worried about our Kaduna.
- @AfamDeluxo -I always tell people to respect Igbo business men. Nigeria is not structured in a way anyone can come in and do business. You have to master the terrain for you to excel. Igbo men have somehow mastered it. I am deeply sad Shoprite is leaving Nigeria but I am not surprised.
- @vhic_tore – You’ll think Nigerians really care about shoprite, it’s just the yellow nylon they’ll miss.