Shoprite Counters News Of Their Leaving Nigeria, Releases New Statement

Date: 03-08-2020 3:45 pm (3 years ago) | Author: kacy lee
- at 3-08-2020 03:45 PM (3 years ago)
Online (f)

Shoprite Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria.

The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard, said: “Shoprite is not leaving Nigeria.

“We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion invest and close shop? It doesn’t sound right.

“We only just given this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.

“I have tried to say this as too many people as I can. There should be no panic at all and all of that. There is no truth in that report.”


Recall that reports have been circulating 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.

The report said the retailer had struggled in the Nigeria market after some South African owned retailer shops exited the Nigeria market.

The report further stated that Shoprite results for the year do not reflect any of their operations in Nigeria as it will be classified as a discontinued operation.

The report also said international markets excluding Nigeria contributed 11.6 per cent to the group sales and reported 1.4 per cent decline in sales from 2018.

South African operations contributed 78 per cent of the overall sales and saw 8.7 per cent rise for the years.

The report went further to say that as a result of the lockdown, customers’ visits declined 7.4 per cent but the average basket spends increased by 18.4 per cent.

Below is the Internal Memo debunking news of their pulling out of Nigeria market:






Posted: at 3-08-2020 03:45 PM (3 years ago) | Addicted Hero
- kaposky at 3-08-2020 04:40 PM (3 years ago)
Online (m)
IS BETTER U PEOPLE LEAVE, UR SOUTH AFRICAN CITIZENS ARE THE MOST WICKED ANIMALS IN THE WHOLE OF AFRICA
Posted: at 3-08-2020 04:40 PM (3 years ago) | Gistmaniac
Reply
- Wazubia at 3-08-2020 05:11 PM (3 years ago)
(m)
 Roll Eyes Roll Eyes Roll Eyes
Posted: at 3-08-2020 05:11 PM (3 years ago) | Gistmaniac
Reply
- rainbowlove at 3-08-2020 05:46 PM (3 years ago)
(m)
I said it all,when they have not done milking Nigerians.
Posted: at 3-08-2020 05:46 PM (3 years ago) | Upcoming
Reply

fire TRENDING GISTS fire

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