₦airaland Forum

JOHANNESBURG, Aug 5 (Reuters) - South Africa's biggest grocery retailer Shoprite Holdings (SHPJ.J), opens new tab said on Tuesday it is selling its operations in Ghana and Malawi, marking another step towards consolidation of its activities across Africa to focus more on its home market.
The supermarket retailer had expanded extensively in Africa, surpassing rivals such as Pick n Pay (PIKJ.J), opens new tab and Walmart-owned Massmart to become the continent's leading food retailer in about 15 countries.

But forays into markets, including Angola and Nigeria, were marred by currency volatility, double-digit inflation, high import duties and dollar-based rentals.
On Tuesday it said Shoprite Malawi signed an agreement on June 6 to dispose of five trading stores, pending certain conditions, including approval from the Competition and Fair Trading Commission as well as the Reserve Bank of Malawi.
In Ghana, the group received a binding offer in June for seven trading stores and one warehouse. The sale is deemed highly probable, Shoprite said.

By 0753 GMT the company's shares were down 2.60%.
The planned sales follow exits from Nigeria, Kenya, Democratic Republic of Congo, Uganda and Madagascar. Shoprite had also restricted capital allocations to its supermarkets outside South Africa.

The retailer also said it expects headline earnings per share from continuing operations to rise between 9.4% and 19.4% in the 52 weeks ended June 29, up from a restated 11.85 rand in 2024.
It expects group sales from continuing operations to rise by 8.9% to 252.7 billion rand ($14 billion).
($1 = 17.9954 rand)

joceey:
Make dem leave nigeria self shop rite no be the same again

THUNDER4real:
They will soon be closing shop in Nigeria. Shoprite nowadays is empty.

wellmax:
Looking for an opportunity to bash Tinubu again Abi.

THUNDER4real:
They will soon be closing shop in Nigeria. Shoprite nowadays is empty.

THUNDER4real:
They will soon be closing shop in Nigeria. Shoprite nowadays is empty.

Omihanifa:
https://www.reuters.com/world/africa/south-african-grocery-retailer-shoprite-plans-exit-ghana-malawi-2025-08-05/

2special:
I hope Nairaland is taking notes....A front page topic is now finding it difficult to reach two pages.

Gboom:
No place in Africa is like Nigeria in terms of rate of turnover and return on investment especially Lagos.
I remember Shoprite opened this first outlet in The Palms in Lekki and they were successful in the first 3 years, and they moved to Ghana thinking that the grass is greener, but they were wrong as they could make 10% of their turnover there after they started opening other outlets all over Nigeria

THUNDER4real:
They will soon be closing shop in Nigeria. Shoprite nowadays is empty.

dele1727:
It won't reach page 2..

Because it's not an opportunity to bash the government....

On the contrary... it goes to show that..
Nigeria may not be alone in its struggles

Gboom:
No place in Africa is like Nigeria in terms of rate of turnover and return on investment especially Lagos.

RandDigital:
False news. Shoprite's core market is South Africa (84% of total revenue). In the last year alone, Shoprite opened over 190 stores in SA - bringing the total to almost 3000. Nigeria didn't even have a handful. So get off your high horse, it's based on delusion.

ZeemsPropeties:
There's no high horse. Nigeria is one of the biggest markets in Africa. Shoprite's model will struggle though because of other competitors and generally because they have failed to make the market "need" them.