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Shoprite Announces Plan To Leave Kenya - Business - Nairaland

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Shoprite: Insider Shares Details Of The Corporate Restructuring / Shoprite To Leave Nigeria After 15 Years - News24 / Angry Mob Invades Shoprite In Lagos (2) (3) (4)

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Shoprite Announces Plan To Leave Kenya by trutharena: 9:43pm On Sep 08
South Africa’s supermarket group, Shoprite Holdings, has announced plans to sell or close its remaining two stores in Kenya by the end of December.

The supermarket group said it will be leaving the East African country two years after it began operations in the country.

On Tuesday, the company said its Kenyan business had underperformed.

“Kenya has continued to underperform relative to our return requirements,” the company said after posting a 16.6 per cent rise in annual group earnings. The South African firm has renegotiated 48 rental agreements by either reducing rent payments or converting them to local currency, Chief Executive, Pieter Engelbrecht, said.

The group has also restricted capital allocations to its supermarkets outside South Africa, as part of an ongoing review of its operations in Africa.

Shoprite, while declaring final dividend of 227 cents per share, said it had traded ahead of expectations since the beginning of July.

The company said the decision to exit Kenya was influenced by the ripple effects of the COVID-19 pandemic on its operations and earnings.

https://www.premiumtimesng.com/business/413278-shoprite-announces-plan-to-leave-kenya.html

5 Likes 1 Share

Re: Shoprite Announces Plan To Leave Kenya by helinues: 9:44pm On Sep 08
When they already have Quickmart, Tusky, Naivas everywhere...

Even Gotv and DStv have so many local competitors...

118 Likes 1 Share

Re: Shoprite Announces Plan To Leave Kenya by Amotolongbo(f): 9:56pm On Sep 08
They could not withstand the competition

80 Likes

Re: Shoprite Announces Plan To Leave Kenya by LaboPolitics: 10:00pm On Sep 08
When you start a business, the first 1-2years should be for experimentation, under normal condition.

When you take stock at the end of the business year and the figures are not looking good as you keep recording losses, identify the problems and if realistically insurmountable due to factors you cannot control. Pack up and leave.

Sometimes location is everything.

118 Likes 6 Shares

Re: Shoprite Announces Plan To Leave Kenya by DaddyRochie1642(f): 1:52am On Sep 09
To Slap ShopRite dey hungry me

15 Likes 1 Share

Re: Shoprite Announces Plan To Leave Kenya by Racoon(m): 2:22am On Sep 09
They are forming & claiming rights in Nigeria while dishing out xenophobic hate back home in South Africa.
Sleeping giant of Africa.

31 Likes 1 Share

Re: Shoprite Announces Plan To Leave Kenya by columbuspoll88: 3:12am On Sep 09
I thought it was merely a Nigerian thing

8 Likes

Re: Shoprite Announces Plan To Leave Kenya by realstars: 4:51am On Sep 09
Ok
Re: Shoprite Announces Plan To Leave Kenya by LordviccoDaGuru(m): 4:51am On Sep 09
Another fake news

2 Likes 2 Shares

Re: Shoprite Announces Plan To Leave Kenya by Abalado(f): 4:52am On Sep 09
They should also remember to leave Nigeria too,,,if not for bad leaders we have in this country,what's in shopprite that Nigerians can't be selling too,,,

44 Likes

Re: Shoprite Announces Plan To Leave Kenya by bjayx: 4:52am On Sep 09
Na dem sabi

1 Like 1 Share

Re: Shoprite Announces Plan To Leave Kenya by masterflowx(m): 4:53am On Sep 09
South african investors are not serious.
They should leave if they feel like. Others african countries can survive without them.

10 Likes 3 Shares

Re: Shoprite Announces Plan To Leave Kenya by kheny12(m): 4:53am On Sep 09
So what concern us as a Nigerian.I don't care undecided

5 Likes

Re: Shoprite Announces Plan To Leave Kenya by eedimo(m): 4:54am On Sep 09
The can leave the World for all I care.
NEXT...

2 Likes

Re: Shoprite Announces Plan To Leave Kenya by MANNABBQGRILLS: 4:54am On Sep 09
Are they leaving Kenya also?
This was our post the first day we read Shoprite are getting ready to leave NIGERIA.......

#TeamProudlyNigeria.

We can have all these and much more indigenously in our darling nation.

If Supersport follow suit,
an indigenous cable TV will stand at last after many caved in along the way.

We should be the GIANT of AFRICA that people know us as.

It is Nigeria that should be having corporations and companies like this in all African countries,
not the other way round
Unfortunately, it is not so cos of the 'many' bad leaders that have ruled our nation since independence.

Gradually we will get there as a nation!
We will continue to believe in her.

sirblend:
Very possible without corruption and nepotism.
You've said it all.
A better Nigeria is all we want.

folarr:
My Bread oooooo!!
Really?
Na only shoprite bread pain u for dis matter?
Mr FOLA the FFO! cheesy

Stomach infrastructure tinzzzzz....... cool

folarr:
My brother,
I'm going to Shoprite now to buy the bread cool
Lol cheesy.
Buy the ones that will last you till Xmas time o.
Safe trip!
Funny!!

BTW, we no be brother o,
We are simply WE!

11 Likes 3 Shares

Re: Shoprite Announces Plan To Leave Kenya by janedonez(m): 4:56am On Sep 09
Terrible times
Re: Shoprite Announces Plan To Leave Kenya by egbekenho: 4:58am On Sep 09
Na all Africa country this people dey operate
Re: Shoprite Announces Plan To Leave Kenya by Alimat40: 4:59am On Sep 09
What is going on with ShopRite?

1 Like

Re: Shoprite Announces Plan To Leave Kenya by oz4real83(m): 5:01am On Sep 09
As long as we still have our local markets, no problem grin. We were already using our local markets for shopping before their coming tongue

2 Likes

Re: Shoprite Announces Plan To Leave Kenya by Aflix(m): 5:01am On Sep 09
..
Re: Shoprite Announces Plan To Leave Kenya by sammysneh(m): 5:02am On Sep 09
Who dem epp
Re: Shoprite Announces Plan To Leave Kenya by CharlesJok3r: 5:04am On Sep 09
ShopRite are about to be another defunct business. This is how they usually start.
It is well o.

1 Like

Re: Shoprite Announces Plan To Leave Kenya by GreaterFuture1(m): 5:05am On Sep 09
How does one get a Job with these People
Re: Shoprite Announces Plan To Leave Kenya by Damseldammie(f): 5:05am On Sep 09
Whatever rock their boat, they should stop disturbing us with their failure

16 Likes 1 Share

Re: Shoprite Announces Plan To Leave Kenya by 2cribz: 5:06am On Sep 09
It baffles me how people see shoprite as a tourist center. Is it that nigerians are too local or bush. Tourist center to nigerians.. eateries,super markets,hotel bar,local bar,malls. Its always in every nigerians phone gallery. Zoo would be empty when the animals are too damn lazy,spoon fed and bored.

23 Likes 3 Shares

Re: Shoprite Announces Plan To Leave Kenya by Onyenna(m): 5:06am On Sep 09
Daaayyuuummmmm...

Covid-19 is the final nail on the coffin.....

Ike gwuru....

1 Like

Re: Shoprite Announces Plan To Leave Kenya by Onyenna(m): 5:07am On Sep 09
Damseldammie:
Whatever rock their boat, they should stop disturbing us with their failure

Oh yes!

3 Likes

Re: Shoprite Announces Plan To Leave Kenya by Onyenna(m): 5:09am On Sep 09
GreaterFuture1:
How does one get a Job with these People

Ship don sink already naaah....

2 Likes

Re: Shoprite Announces Plan To Leave Kenya by domino4211(m): 5:10am On Sep 09
Righteousness89 ..
What is the spiritual implication of this?

10 Likes

Re: Shoprite Announces Plan To Leave Kenya by easyfem(m): 5:10am On Sep 09
another one
Re: Shoprite Announces Plan To Leave Kenya by Onyenna(m): 5:10am On Sep 09
janedonez:
Terrible times

Terrible times indeed..... Covid-19 really did a number on them...

2 Likes

Re: Shoprite Announces Plan To Leave Kenya by UDOKABESTLUV(m): 5:10am On Sep 09
Cha E! God Please Pick Up My Call, Why will shoprite leave Kenya na

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