Africa’s largest FMCG retailer,Shoprite is exiting the Nigerian market as it begins the formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria,Shoprite’s operations in Nigeria saw a 6.7% decline in sales for the twelve months to June 2020, according to the group’s trading statement released today.

“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. As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year.”


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