xWith the acquisition, Shoprite, Africa’s largest food retailer, has completed exiting the Nigerians market 16 years after it opened its first outlet. Ketron in a statement said Shoprite is changing its strategy “from an ownership model to a franchise model. The acquisition has been approved by Nigeria’s federal competition and consumer protection commission. “We look forward to building an even stronger company following our acquisition,” said Tayo Amusan, Ketron’s chairman. xIn August 2020, Shoprite hinted that its business in Nigeria operated under Retail Supermarkets Nigeria Limited “may be classified as a discontinued operation.”The retailer operated 25 outlets in eight states across Africa’s biggest economy but had been struggling with disruptions.

Source: The Guardian June 02, 2021 09:22 UTC