Shoprite is not leaving Nigeria Management
Shoprite is not leaving Nigeria Management laments. Shoprite has debunked earlier reports to discontinue operations in Nigeria. Retail Giant Store ShopRite owned by South Africa was reported to take a proper procedure to stop its activity in Nigeria.
Report had it that the Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released on Monday.
The worldwide retail group , which declared a 6.4 percent expansion (R156.9billion) in all out deals of product for the active year in spite of the difficulties presented by the COVID-19 pandemic, reported that it took the choice to stop its activity in Nigeria “following methodologies from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria.”The company blame this decline on the lockdown announced in several African countries due to the coronavirus pandemic.
Addressing Vanguard, Country Director for Chastex Consult, Ini Archibong, expressed that it just allowed Nigerian the chance to put resources into the organization. He said
“Shoprite is not leaving Nigeria.
“We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion invest and close shop? It doesn’t sound right.
“We only just given this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.
I have tried to say this as too many people as I can. There should be no panic at all and all of that. There is no truth in that report.”
Shoprite opened its first store in Nigeria in December 2005 and now has a total of 26 stores across eight states in the country including Federal Capital Territory, Abuja. The company also claim to have employed more than 2,000 people in Nigeria, of which 99 per cent of them are Nigerians.
Shoprite also claimed to have built more relationships with over 300 Nigeria suppliers, small businesses and farmers.
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