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Monday, 3 August 2020

ShopRite Denies Planning to Leave Nigeria

ShopRite Nigeria has debunked media reports making the rounds that it intends to close all its outlets in Nigeria.
The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard newspaper, said Shoprite is not leaving Nigeria.
He said the group is rather opening up to Nigerian investors which they had been talking to before now, adding that it does not make sense to leave behind over thirty billion dollars’ worth of investment and close shop.
He said the current deal is for Nigerian investors to come in and help drive the expansion plan of Shoprite in Nigeria, insisting that reports which indicate that Shoprite is leaving Nigeria is false and baseless.
It would be recalled the social media had been awash with reports that the retail outlet has started a formal process to consider the potential sale of all or a majority of stake in its supermarkets in Nigeria.

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