FIle photo: Police protect a shoprite store in Abuja amid protests against Xenophobic attacks on Nigerians in South Africa on September 4, 2019. Photo: Sodiq Adelakun/Channels TVSupermarket retailer, Shoprite, has clarified that it is not leaving Nigeria but rather expanding its business in the country.
According to the company, the move became important so as to “unlock” the potentials in the West African nation’s retail business, explaining that the best way to do such is by involving local investors.“It has, however, become apparent that the best manner in which to do this is by engaging Nigerian investors who share in the same vision,” read the memo signed by the General Manager, Carl Erickson.
Several potential Nigerian investors have been identified and all options are being explored to make the company’s move a reality, the memo further explained. This comes as the company said when it reports its results for the year, Shoprite in Nigeria “may be classified as a discontinued operation.”