Shoprite sells Nigerian business to property company - Report | The Guardian Nigeria News - Nigeria and World News

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Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite Nigeria Persianas RetailStore

Shoprite said that its business in Nigeria operated under Retail Supermarkets Nigeria Limited “may be classified as a discontinued operation.”The company said it has been approached by potential investors willing to take over its Nigerian operations. It said it is considering an outright sale or parting with a majority stake in its Nigerian subsidiary.

“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.” Fears of layoff and a potential return to the street forced the staff, some of which are casual workers, to demand payoff for their years of service.

 

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They better come with their Prince of Persia to fight the bad business policies of this government. 🙃

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