Stella Dimoko Korkus.com: South Africa's Grocery Retailer ShopRite Reportedly Set To Exit Nigeria

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Monday, August 03, 2020

South Africa's Grocery Retailer ShopRite Reportedly Set To Exit Nigeria

South Africa’s grocery retailer ShopRite has announced that it is leaving Africa’s biggest market, Nigeria, 15 years after it opened shop there...





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.

The company said it has been approached by potential investors willing to take over its Nigerian operations. It said it considering an outright sale of its operation or selling a majority stake in its Nigerian subsidiary.

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation,” ShopRite said in a statement on Monday.
from Guardian

38 comments:

  1. Nigerians, sure you people are happy now?
    Now you can shop in your Ogbete and Ojuelegba markets in peace.
    Next will be MTN.
    😏😏😏😏😏😏😏😏😏😏😏😏😏

    ReplyDelete
    Replies
    1. They should go abeg. They were killing indigenous markets. Mtn should go n dstv too

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    2. Twale Isaac baba! Guys pasa n'ogbee

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  2. Eyah... We will miss you o!

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  3. Let me give them (both ShopRite and potential investors) my own πŸ™„ as well. I hope this is not another means of diverting public funds. We dey here dey look na.

    ReplyDelete
  4. what about those who would be unemployed??

    ReplyDelete
    Replies
    1. This is what I thought of first. It's sad

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  5. This news won’t go well with my daughter oo.. Beat her and promise to take her to ShopRite, she no go cry. Ewooooooo

    ReplyDelete
    Replies
    1. Na to dey tell her you go take her to domino's now o.. πŸ˜‚πŸ˜‚

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    2. Still mention shoprite as we still dey mention Nepa.

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  6. Good riddance..bye Felicia!

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  7. I feel for those hundreds of people adding to our unemployment rate. I just hope our politicians will put the money they stole in good use by taking over this grocery shop and retain the workers

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    Replies
    1. U sure?? My dear na 2nd slavery and trust me mismanagement will enter it..

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    2. Read the message well again. They said they want to “sell” their Nigerian outlets either as a whole or part. Means some other company will buy it and run the same outlets. So I don’t anticipate any massive job loss. Even if an established Supermarket buys it up, they will still need majority of the staff there to run the outlets

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  8. No wahala. We have our own HOKbrand. and other indegenous stores.

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  9. Well, they have done enough.

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  10. We are better off without them.

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  11. Wont really miss them,I cant even remember the last time I visited shoprite..I'm sure it's not up to 4 times since inception I'm Nigeria

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  12. Hmmm, people seem happy but this is not good for us at all. This just tells potential investors to apply caution and consider other options before investing in Nigeria.

    ReplyDelete
  13. Multichoice, MTN, stanbic, up next....lol

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    Replies
    1. Abeg o.These ones are high employers of labour abeg. They can sell it off to indigenes.

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    2. They are not leaving, they’re just changing management.

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  14. This is not good..What will happen to the teeming youth that will be pushed to the labour market? I dont know why all of a sudden everything in Nigeria is failing like a domino effect..Jesus!

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    Replies
    1. They are selling to investors who may wish to carry on business as usual.

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  15. Nigeria is a terrible place to invest in..
    Especially when the government in power is "Buhari"..
    That was the same way that Leventis & Kingsway left the country during Buhari regime..
    In this life, you cannot give what you don't have
    Chizzy j

    ReplyDelete
  16. I want Multi- choice to join them since they have refused to adopt the "pay as you go" payment plan...
    These South African companies have been ripping Nigerian markets off..
    Bye Felicia, don't let the door hit you!!

    ReplyDelete
  17. They are selling to investors and this is very good.

    Nigerians should buy it from them completely and change the name too.
    Let it be completely Nigerian own.

    ReplyDelete

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