Shoprite discontinues operations in Nigeria



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Shoprite has announced that it has decided to discontinue its operations in Nigeria.

This development followed “approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria.”

The statement by Shoprite reads in part: “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.”


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