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Retailer Shoprite Says Divestment Won't Mean Leaving Nigeria

Africa's largest retailer, South African-owned Shoprite, has been rumoured to be closing its doors after operating in Nigeria for 15 years. This move has however been denied by Shoprite in Nigeria. Instead, the parent company is looking to attract local investors as it plans to divest its stake in the Nigeria arm of the business, according to This Day. Earlier this year another South African retailer Mr Price, closed four of its five stores, citing challenges with accessing materials locally, as well as delays in getting imports into the country. 

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(file photo).

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