UPDATED: Nigerian to take over Shoprite assets
When Shoprite leaves Nigeria, its assets will most likely be handed over to a Nigerian.
According to Duru: “The impact will be that the ownership of Shoprite in Nigeria will now be in the hands of a local.” On why the African grocery store is leaving Nigeria, Nze Duru noted: “It is evidence of the fact that this is a very unstable market.“The challenge of retailers is compounded by the fact that you are in an environment where you have no control over the value of the local currency.
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