Africa’s biggest grocery retailer, Shoprite, has announced its exit from Nigeria, after 15 years.
The South African Company, in a trading statement released on Monday said it had commenced a formal process to “consider the potential sale of all or a majority stake in its supermarkets in Nigeria.”
“The results for the year do not reflect any of our operations is Nigeria as it will be classified as discontinued operation.
“Any further updates will be provided to the market at the appropriate time,” the statement read in part.
Shoprite becomes the third South African retailer to leave the Nigerian market after Mr Price and Woolworths
