Shoprite to Pull out of Nigeria
One of Africa’s biggest grocery retailer, Shoprite, has indicated plan to exit the Nigerian market 15 years after it entered the country.
“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.
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