NewStats: 3,262,201 , 8,176,463 topics. Date: Sunday, 01 June 2025 at 11:07 AM 2n6j6a

Johannesburg, South Africa – South African grocery retailer, Pick n Pay, has announced its decision to exit the Nigerian market. The company will sell its 51% stake in a t venture as part of a broader restructuring strategy aimed at improving its financial performance outside of its home market.


Pick n Pay, which entered Nigeria less than five years ago through a partnership with A.G. Leventis (Nigeria), currently operates only two stores in the country. Its first store, located in the upscale Victoria Island area of Lagos, was opened in 2018.

The retailer’s exit from Nigeria follows a trend of multinational companies leaving the African nation due to profitability challenges. Pick n Pay itself has been struggling financially, reporting a larger half-year loss driven by trading losses in its core supermarket operations and rising borrowing costs.

Despite these challenges, the company reported positive performance in its clothing and online businesses, as well as encouraging improvements in its company-owned supermarkets. CEO Sean Summers expressed optimism about reducing trading losses in the Pick n Pay business by up to 50% for the full year.

Meanwhile, Pick n Pay’s discount Boxer division continues to thrive, with trading profit increasing by 16%. The company plans to list Boxer on the Johannesburg Stock Exchange by the end of the year, aiming to raise up to 8 billion rand ($452 million) in what could be the continent’s largest offering this year.

https://theafricadailypost.com/319859/business/pick-n-pay-exits-nigeria-after-four-years/

T-PAIN economic guru

If Buhari is better than you then you are a complete failure.

Diesel cost is now a big deal for businesses as well as salaries . If your workers spends 30k to come to work in a month, at least they will be demanding 90k and you cannot transfer these cost to the consumer because those ones are ready to leave your product for you .

Everything is not working properly In this so called jungle.
It's for their own good, they should leave.

Can you imagine agbero economics by Wale you can't tax your way out of this problem you have created. Taxing companies that are just managing to stay up is not the way out. Tax break for new investors as long has they have more than 900 workers.

Thunder 🔥 Tinubu

I hope by the time Tinubu will finish his tenure in office, the only company in Nigeria will be Keke.

Emilokan said he will continue where buhari stopped and he is doing just that.

If they can blame buhari for the present woes then tinubu is obviously clueless and a failure.

they should just all leave....

importin things and then wonderin why nobody can afford it....

things are much cheaper in local markets....
nonesense....pity anybody that wants to live western style in nigeria....na your budget go suffer ram....

I have no idea why Nigerians patronize these South African companies. The money they get allows them to take care of the South African people spreading propaganda against us on Social Media. I wish Nigerians will create a viral # to boycott all South African businesses in Nigeria.

justtoodark:
they should just all leave....

importin things and then wonderin why nobody can afford it....

things are much cheaper in local markets....
nonesense....pity anybody that wants to live western style in nigeria....na your budget go suffer ram....

Zömbie... Blaming everyone else other than themselves and their clueless APC empty heads. I spit on your stupidity

Zooposki:
I have no idea why Nigerians patronize these South African companies. The money they get allows them to take care of the South African people spreading propaganda against us on Social Media. I wish Nigerians will create a viral # to boycott all South African businesses in Nigeria.

I agree

Nigeria has a huge population with very low purchasing power.

Una go cry blood

Don't be surprised to open the head of an average T.pain er and see only air inside

Las las Na Ashawo and Kidnapping we go take survive for this country

T pain

What an historic istration

Zooposki:
I have no idea why Nigerians patronize these South African companies. The money they get allows them to take care of the South African people spreading propaganda against us on Social Media. I wish Nigerians will create a viral # to boycott all South African businesses in Nigeria.

I agree with you 💯.

These guys hate Nigerians too much.

We should return the return the favour

We see road enter bush because of tribalism. Day never even break.

Mindlog:
Nigeria has a huge population with very low purchasing power high cost of operations.

Fixed.

krince:
Diesel cost is now a big deal for businesses as well as salaries . If your workers spends 30k to come to work in a month, at least they will be demanding 90k and you cannot transfer these cost to the consumer because those ones are ready to leave your product for you .

wittyness

This is just the beginning
Even market women go soon fold up
🤣🤣

Grandpa @ T pain isn't getting it riite. Tpain policy is affecting us all, make he let d masses breathe.

Hmmmm. A bad time.

Its global

Well, Pick n Pay is also closing down most of their stores in South Africa. I don't think this is just a Nigerian problem.

Zooposki:
I have no idea why Nigerians patronize these South African companies. The money they get allows them to take care of the South African people spreading propaganda against us on Social Media. I wish Nigerians will create a viral # to boycott all South African businesses in Nigeria.

Is that the topic?. Abi na South Africans dey work there?. Somany people has become unemployed because of the bad decisions of few who s bad governance. Voted Buhari now Tinubu,…what criteria did they vote these incompetent politicians.

Where is the fake first class ant?

Oloriburuku IMF said Nigeria should wait for 15years.If this trend continues for 15years only God can tell how things will be. We are not seeing the audio investors from , Saudi and other propaganda investors,the investors on ground are even leaving in droves.

Theifnuibu no go die well

What a Balabluu!

Pick N Pay have reached their own townhall

Zooposki:
I have no idea why Nigerians patronize these South African companies. The money they get allows them to take care of the South African people spreading propaganda against us on Social Media. I wish Nigerians will create a viral # to boycott all South African businesses in Nigeria.

Nigerians are too disunited to think and reason clearly

To come up with novel solutions that will improve the country