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Shoprite is not leaving Nigeria” – Management



Shoprite has debunked earlier reports that the retail giant is preparing to exit Nigeria, after 15 years of operation in the country.

Earlier reports had stated that the retail giant was preparing exit plans after its business outside South Africa recorded losses.

According to a report by News 24, 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.

Speaking to Vanguard, Country Director for Chastex Consult, Ini Archibong, stated that it only gave Nigerian the opportunity to invest in the company. He said;

“Shoprite is not leaving Nigeria.

“We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion invest and close shop? It doesn’t sound right.

“We only just given this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.

“I have tried to say this as too many people as I can. There should be no panic at all and all of that. There is no truth in that report.”

Former Kaduna lawmaker, Senator Shehu Sani, had earlier today in his reaction to the report on exit of Shoprite from Nigeria, said it will provide an opportunity for local supermarkets in the country to grow.

In a tweet he shared, Sani stated that the company is free to stay if they intend doing that and if they have decided to leave the country, then they are also free to go.

He wrote on Twitter:

If Shoprite wants to stay,they can stay;if they want to go,they can go;it will help local supermarkets to grow.

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