Northern Nigerian Breaking News

JUST IN: Shoprite commences process to leave Nigeria


Africa’s largest food retailer, Shoprite, is planning to exit the Nigerian market after posting a continuous decline in sales from its operations.

In a trading update filed at the Johannesburg Stock Exchange (JSE) on Monday morning, the retail giant said it was planning to discontinue its operations in Nigeria.

“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,” the update read.

Read Also:N900m Debt: AMCON Takes Over Buba Galadima Assets(Opens in a new browser tab)

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time.”

elsamad new

In Nigeria, sales declined by 6.3 percent in the 2020 fiscal year.

Shoprite launched in Nigeria nearly 15 years ago, opening its first store in Lagos in December 2005.

That chain has grown from one to more than 25 retail stores across Nigeria — including some of the biggest retail stores in west Africa.

Outside South South Africa, Shoprite sales grew by only 0.1 percent in the second half of the year under review.

“In equally, if not more difficult circumstances resulting from COVID-19 lockdown regulations, Supermarkets Non-RSA’s second-half reported an increase in sales of 0.1%,” the company said.

This resulted “in an overall decline in sales of 1.4% for the year but in constant currency increased by 6.6%.”

According to The Cable, the company suffered from the devaluation of the naira against the US dollar.

  1. maxbet says

    352985 122172I believe one of your commercials caused my internet browser to resize, you could effectively want to put that on your blacklist. 509009

  2. 912344 922010Respect to site author , some fantastic entropy. 527321

  3. dmt vape pen patent says

    412373 180931Some truly good stuff on this internet internet site , I like it. 87395

  4. 584170 693188I gotta favorite this website it seems handy really beneficial 466131

  5. Pagamentos em cota única ganham 10% de desconto. O carnê digital
    do Imposto Predial e Territorial Urbano – IPTU –
    2022, já está disponível para os nilopolitanos.

  6. Elini kolunu bağladığı kızı zorla sikiyor Bu video da toplamda 66121 kişi boşaldı İZLE BOŞAL 66121 kez izlendi Videolar çok
    nadir olsa da bazen açılmıyor. Lütfen sayfayı yenile ya da başka video izle.
    Film Açıklaması Sapık adam eve gelen güzel kızı
    uygun fırsatı yakalar yakalamaz amdan bir güzel sikiliyor.

  7. Kocası Arkadaş Yanında says

    Zayıf ince uzun. By admin 1 saat Türbanlı körpe sex indir.
    4 ay önce 65 izlenme. Tayt popo. Otelde temizlikçiyi siken adam
    pornosu. 4 hafta önce 15.

Leave A Reply

Your email address will not be published.