Ife OgunfuwaShoprite plans to open up its retail supermarkets in Nigeria to potential investors, which may lead to the sale of some or all its stake in the country. Shoprite, which started operation in Nigeria in 2005, is a leading South African mass retail supermarket, with about 25 outlets in the country. “As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Meanwhile, the Country Manager, Chastest Consult, a Public Relations Company for Shoprite Nigeria, Mr. Ini Archibong, in a telephone conversation with our Correspondent, denied the report, saying the company had over $30bn investment in Nigeria. The PUNCH, alongside other global media, had reported that the company was to exit Nigeria.

Source: Punch August 03, 2020 16:07 UTC