South Africa’s grocery retailer ShopRite is leaving Africa’s biggest market, Nigeria, 15 years after it opened shop in the West African country. The announcement by ShopRite came months after another South African brand, Mr Price, exited the market. South African operations contributed 78% of overall sales and saw 8.7% rise for the year. The company said it has been approached by potential investors willing to take over its Nigerian operations. “As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation,” ShopRite said in a statement on Monday.

Source: The Guardian August 03, 2020 08:22 UTC