Connect with us

Shoprite Plans To Exit Nigeria

Piroll

Published

on

Follow
FOREIGN NEWS: Shoprite Plans To Exit Nigeria [New Foreign News] » Naijacrawl
Photo: Naijacrawl

The South Africa cum Africa's biggest grocery retailer, Shoprite, is exiting the most populated country in Afric Nigeria, after 15 years of business

The company said it 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.



South African retailers have struggled in the Nigeria market and most recently Mr Price has exited the market after Woolworths did the same six years ago.

In the statement, Shoprite said the results for the year do not reflect any of their operations is Nigeria as it will be classified as discontinued operation.

International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.

As a result of lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.

Click Here To Comment




Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

Continue Reading
Click to comment

Be first to comment


Leave a Reply

Your email address will not be published. Required fields are marked *

Foreign News

Ex Sierra Leone President Ernest Bai Koroma Seeks Medical Treatment in Nigeria

Piroll

Published

on

FOREIGN NEWS: Ex Sierra Leone President Ernest Bai Koroma Seeks Medical Treatment in Nigeria [New Foreign News] » Naijacrawl
Photo: Naijacrawl
Sierra Leone's former president, Ernest Bai Koroma, charged for his alleged involvement in what authorities term an attempted coup, has left the country and arrived in Nigeria on Friday.Koroma's arrival in Abuja on Friday afternoon was marked by a reception led by National Security Adviser Nuhu Ribadu and the president of the ECOWAS Commission, Omar Alieu Touray. Nigeria had extended an offer allowing the ex-president temporary entry, an offer that he accepted.The 7...
Continue Reading

Foreign News

2 Nigeria Nationals Arrested in Cocaine Buy-Burst

Piroll

Published

on

FOREIGN NEWS: 2 Nigeria Nationals Arrested in Cocaine Buy-Burst [New Foreign News] » Naijacrawl
Photo: Naijacrawl
It was an embarrassing moment for two Nigeria National in Philippines as the Government anti-narcotics operatives seized at least P6.2 million worth of heroin in a buy-bust operation at a shopping mall in Imus City, Cavite, in the Philippines.Police Region 4A identified the suspects as Enuka John Chukwuemeka and Christopher Nwabufo, both residents of Golden Acres Village, Las Piñas City.Police said the suspects were arrested on Wednesday, September 13, 2023, after t...
Continue Reading

Foreign News

Nigeria man & Girlfriend arrested for drug in South Africa

Piroll

Published

on

FOREIGN NEWS: Nigeria man & Girlfriend arrested for drug in South Africa [New Foreign News] » Naijacrawl
Photo: Naijacrawl
A woman and her Nigerian boyfriend were arrested with drugs by members of the East London Tactical Response Team (TRT) in Eastern Cape, South Africa.The provincial spokesperson for the Directorate for Priority Crime Investigation (Hawks), Captain Yolisa Mgolodela, in a statement on Wednesday, March 22, said Promise Uchechukwu, 29, and his girlfriend, Anihle Sikade, 27, were arrested on Saturday, March 18.He said after the TRT’s R75 000 drug bust, the investigation w...
Continue Reading

Latest


Download Naijacrawl App today

Fastest way to read on the go

Download the Naijacrawl App.