The announcement by Shoprite Holdings Limited, the South African supermarket chain operator, of a formal process to consider the potential sale of all or a majority stake in its Retail Supermarkets Nigeria Limited may be an opporunity for Nigerian investors, theOn Monday, Shoprite in its operational and voluntary trading update for the year ended June 2 said the commencement of the formal share sale process followed approaches from various potential investors.
“Although details have not been provided by the Group, we understand that the structure of the planned transaction may provide an opportunity for Nigerian investors to take up a controlling interest in the business. That means expansion and deepening of the investment in Nigeria,” Ms Sadiku said.She said Shoprite’s outlets across Nigeria provide market access to over 500 Nigerian farmers and small businesses, helping to get local produce and products to millions of Nigerian consumers.
“The retail market remains a material growth driver in the Nigerian economy, accounting for 16% of gross domestic product and presenting opportunities for domestic and foreign investors in retail stores, e-commerce, real estate and several promising career paths for Nigerians,” she added.
She said the businesses are in a position to take advantage of the unique opportunities presented by COVID-19 pandemic, adding that although many businesses have been negatively impacted by the pandemic, new windows of opportunity have been created for the medical and pharmaceutical, technology-enabled, and ICT sectors to exploit.
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