PR firm, Chastex Consult's Country Director, Ini Archibong, has reacted to AllNews report that Shoprite will be shutting down its operation in Nigeria. Archibong denied the report stating that Shoprite has no intention, but his statement contradicts the official report from Shoprite Group.

Archibong said Shoprite is only allowing Nigerian investors into the South African retail company, and not packing up from Nigeria. According to him, the superstore giant won't shutdown its $30 billion investment as it makes no sense, "Shoprite is not leaving Nigeria.

"We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion invest and close shop? It doesn't sound right. We only just given this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.

"I have tried to say this as too many people as I can. There should be no panic at all and all of that. There is no truth in that report." Archibong told Vanguard in a report. However, his statement further shows a communication gap between Shoprite Holdings and its consultancy agency in Nigeria.

Disconnection Between Chastex Consult And Shoprite

While Archibong denied closure of Shoprite in Nigeria, the South African company had released an operational and voluntary trading update on the Johannesburg Stock Exchange (JSE), informing its investors that it... https://allnews.ng/news/loopholes-in-chastex-consult-claim-as-it-contradict-shoprite-holdings