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Shoprite Set to exit Nigeria Market

Shoprite Set to exit Nigeria Market

In an official statement sent out to the press, it was noted that Shoprite will exit the Nigeria market after 15 years.

The Africa largest retail market, with many outlets in Nigeria, reached an agreement to Terminate its operation in Nigeria.

The press release states that,

“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,” the update read.”

From the updates sent out on Monday morning, it was identified that another group will take over the company in the nearest future.

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