Shoprite to exit Nigeria

File: Shoprite says it's started a formal process to sell all or a majority stake in its Nigerian operations.

File: Shoprite says it's started a formal process to sell all or a majority stake in its Nigerian operations.

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JOHANNESBURG - Africa's largest retailer, Shoprite, is leaving Nigeria.

It's been in the country for 15 years.

In its latest trading statement, the company says it's started a formal process to sell all or a majority stake in its Nigerian operations.

READ: SA's MTN, Shoprite close stores in Nigeria

Mr Price recently exited that market while Woolworths threw in the towel six years ago.

But Checkers and Usave have been successfully navigating the market.

It says it gained market share during the lockdown, with sales growing by 6.4 percent to over R156-billion.

Source
eNCA