Nigeria: Shoprite Records First Annual Profit Drop in 19 Years

22 August 2018

Shoprite has reported the first decline in its annual earnings in 19 years, due to currency devaluation in Angola and a lackluster showing in its home South African market and elsewhere on the continent.

Shoprite, Africa's biggest grocer, with extensive operations on the continent, took another hit this year as key markets in Angola and Nigeria battle chronic foreign exchange shortages and tepid economic growth.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.