NewStats: 3,259,164 , 8,169,262 topics. Date: Saturday, 24 May 2025 at 04:11 AM 2v6j2i

A Nigerian property company will be taking over Shoprite’s local business in Nigeria, Reuters reported on Wednesday, citing multiple sources.
Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets.

Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details about the deal have been disclosed.

The company in August 2020 announced that it will be exiting the Nigerian market after over 15 years.
Shoprite said that its business in Nigeria operated under Retail Supermarkets Nigeria Limited “may be classified as a discontinued operation.”

The company said it has been approached by potential investors willing to take over its Nigerian operations. It said it is considering an outright sale or parting with a majority stake in its Nigerian subsidiary.

“Following approaches from various potential investors, and in line with our re-evaluation of the Group’s operating model in Nigeria, the Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited,” Shoptite said.

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time.”

Shoprite at the time denied it was exiting Nigeria, noting that no one “leaves over $30 billion investment and close shop”.

While the company is yet to give further details of its exit plans from the Nigerian market, the announcement has led to a series of heat between Shoprite and its employees.

Shoprite vs Nigerian staff

Shoprite staff have shut down major outlets at different times, with the workers protesting what they described as unfavourable working conditions and uncertainty of their employment status amidst the potential takeover by a new owner.

Fears of layoff and a potential return to the street forced the staff, some of which are casual workers, to demand payoff for their years of service.

“We are here to fight for our rights – our payoffs and compensation,” a male Shoprite staff told The Guardian in March 2021.

“We say no to modern-slavery,” says one of the notices posted on the locked doors of the store at the Festival Mall.

Read More: Protesting Shoprite staff lockdown Lagos stores

A protesting staff at Ikeja referred to the planned takeover of the company by new investors as part of the reason for the protest.

He said the protesters are not “aware of their (new investors) plans for us” after some of them have worked for the company for close to 10 to 15 years.

One of the staff insisted that they all deserved a payoff “after some staff here has worked for 10 and 15 years (with) no promotion” with little or no increment in salaries during their years of working with the company.

Another staff said, “we are scared of our new investor because we don’t know their plans. They could come in with their staff.”

Source: https://m.guardian.ng/Shoprite-sells-Nigerian-business-to-property-company-Report

All thanks to lifeless Buhari

very good....away with them....

we no want them in nigeria....

This is so sad!!

Every foreign investor is jumping out of Nigerian market before the country erupts.

Yet some people are here blaming Twitter for steering clear of the mess called Nigeria?

Though Shoprite-the SA company have been ripping us here while its citizens are committing xenophobic attacks against Nigerians in its home country while the relevant government agencies did practically nothing to succour us, the departure of Shoprite is a sign that the company have seen something coming.

You see large crowds at ShopRite stores and you think they are making sales not knowing that Nigerians are just going there to snap selfies for Facebook and Instagram

Destiny killing machine ...

How can they survive when we don't checkmate fake products that saturates everywhere

When they pay huge electricity and pay high money for powering generators

Can we say it's a good move? Yes, no. What goes around comes around.

Nothing remain for this country again.



Nairobi on my mind

OMG.

Na there business

Hmmm��
While some people are using saliva to count money, others are using it to make a way where there's no way�‍♂


�‍♂

Bad

Other companies are making it big with Nigeria market,why is shoprite struggling to survive in Nigeria?

They have at least strong foot in Ghana, that I know

let's blame buhari as usual

Another defination of the phrase nothing last forever. I guess this their change was one the many daddy bubu was preaching during campaign. Sai baba

When Etisalat left Nigeria is when I know Nigeria is very tough place for foreign investors

Company that is number 1 Telecom company in Dubai

It is well .

Ok

Bye

Racoon:
Though Shoprite-the SA company have been ripping us here while their citizens committing xenophobic attacks against Nigerians in its home country while the relevant government agencies doing practically nothing to succour us, the departure of Shoprite is a sign that the company have seen something coming.

You're right Sir... something tragic is on the way.

Noted

The said company no get name?


Spar kuku near my house. Wetin concern me?

I taya for dis country o...



almost all foreign investors are pulling out of the country for no tangible reasons.


abeg for any staff when feel say Shoprite supposed compensate an. should try and run a business here in Nigeria. na there you go know wetin dem through.

Even we small, small entrepreneurers sef no find am easy operating in Nigeria... youths should do this and that, those wey no do even Dey do better us... Gboys, una well done ooh

When there is no president, what do you expect?

Dey Don use tax drive ShopRite
Many pple are saying dangote cement in Ghana is #1800
Wat we Don't know is dat it's our government dat is killing us, heavy tax in Nigeria is a business killer
Wat pain me most is dat dey use d tax for themselves, imagine ashia buhari photographer get wardrobe allowance..........

Na lifeless president cause all this

adenigga:


Source: https://m.guardian.ng/Shoprite-sells-Nigerian-business-to-property-company-Report

Those that clamoured and shouted Sai Buhari are all in mute mood now. They all should be flogged 80 strokes of the Cain.

Fahdiga:
All thanks to lifeless Buhari

We are tired of hearing this

Time for DSTV and GOtv to introduce pay as you go or else leave

Thank you Buhari the lifeless one! Nothing can thrive under this government