Icon Properties plc says the exit of Shoprite from Chichiri Shopping Centre in Blantyre is part of a natural change in the retail business and marks the end of a long and important partnership.
Shoprite will close its store at Chichiri on Tuesday, ending a 24-year relationship with Icon Properties, which is listed on the Malawi Stock Exchange and is a subsidiary of Nico Holdings.
Shoprite entered Malawi in the year 2000 and became one of the biggest and most popular supermarkets in the country.
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In a statement, Icon Properties chief executive officer Washington Chimuzu said Shoprite was not just a tenant, but an important partner that helped Chichiri grow into what it is today.
"Shoprite helped shape Chichiri into the busy and successful shopping centre it is today. We are grateful for the 24 years we worked together, and we are ready for the next chapter," he said.
Chimuzu said Chichiri Shopping Centre will remain open and fully operational, and that all other shops will continue doing business as usual.
He also said plans are already in place to bring in a new major tenant to take over the space left by Shoprite.
"Icon is committed to keeping Chichiri strong, with a good mix of tenants. We will soon announce the new main tenant," he said.
Shoprite's exit from Malawi follows its decision to leave several African countries and focus mainly on South Africa, where business is more stable and profitable.
In August last year, Shoprite announced it was selling its operations in Malawi and Ghana as part of this strategy.
Shoprite confirmed that it signed an agreement in June 2025 to sell its assets in Malawi to Karson Investment Trust.
The Competition and Fair Trading Commission (CFTC) approved the deal in September 2025 but set conditions to protect workers and customers.
CFTC said the new owner must keep all employees who want to stay, pay full benefits to those who leave, and submit reports every three months for two years.
Malawi Congress of Trade Unions president Charles Kumchenga said the unions will closely monitor the new investor to make sure workers' rights are respected.
Shoprite started pulling out of many African countries in 2020, blaming weak currencies, high import taxes, and high operating costs.
Since then, Shoprite has left Nigeria, Kenya, Uganda, Madagascar and the Democratic Republic of Congo.
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In Malawi, Shoprite closed its Zomba store in 2022 after making losses for three years in a row.
Another South African supermarket, Spar, also left Malawi in 2022.
Experts say Malawi's retail and wholesale sector is struggling because the country depends heavily on imports, lacks foreign currency, and faces a high cost of living.
This makes it difficult for big international companies to survive in the market.
