Africa’s biggest grocery retailer, Shoprite, is exiting the continent’s most populated country, Nigeria, after 15 years.

The Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released on Monday.

South African retailers have struggled in the Nigeria market and most recently Mr Price has exited the market after Woolworths did the same six years ago.

In the statement, Shoprite said the results for the year do not reflect any of their operations is Nigeria as it will be classified as discontinued operation.

International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.

As a result of lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.

Source: www.news24.com

Previous article“I’ll deal with Ahwoi’s callous agenda of bile and desperation to control NDC” – Rawlings
Next article2020 Elections: Akufo-Addo registers for voter card
A pen might be mightier than a sword, but that will only depend on who possesses and uses the pen. A pen in your hands could probably just be a tool for leaving ink stains on a paper. But a pen in Bernard Ralph Adams' hands can sometimes send shivers down the spines of some high-ranking personalities in the world. Noted as one of the finest bloggers the country has produced in recent times, Ralph as he's fondly called by peers is a young geezer known as a journalist, blogger, social media influencer, talent manager, events promoter, writer, fixer, Publicist/PRO and biographer. He's a fan of Donald J. Trump and an unofficial Waakye Ambassador. Ralph is the immediate past editor of BrownGh.Com. Currently, he serves as the managing editor of Ryvanz Mia Online. He founded and manages Ghnewsfilla.com, a news and entertainment website based in Ghana Contact Ralph for hiring, events coverage, artiste promotion or anything online related via +233544886177 Instagram and Twitter @theladralph. Email; bernardralph@ghnewsfilla.com or ralphadamsb6@gmail.com.