Bye Bye Shoprite - Its a Lie, we no dey go Anywhere?

In some news, It was noted that Shoprite is planning to exit Nigeria

Africa's biggest grocery retailer, Shoprite, is exiting the continent's most populated country, Nigeria, after 15 years.

The Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released on Monday.
https://www.news24.com/fin24/companies/shoprite-exits-nigeria-after-15-years-20200803
https://www.cnn.com/2020/08/03/africa/shoprite-nigeria-exit-intl/index.html

But recent updates suggest otherwise, 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 investment and close shop? It doesn’t sound right. “We only gave 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 to many people as I can. There should be no panic at all and all of that. There is no truth in that report.”

Read more at: https://www.vanguardngr.com/2020/08/shoprite-debunks-exit-rumour-says-we-are-not-leaving/

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