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<p>Shoprite Africa’s largest food retailer is planning to exit the Nigerian market after p continuous losses from its operations in the West African country.</p><div class="e8MdPEtT" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p>In a trading update filed at the <a href="https://en.wikipedia.org/wiki/Johannesburg">Johannesburg</a> Stock Exchange (JSE) on Monday morning, the retail giant said it was planning to cease its operations in Nigeria.</p>
<p><a class="LinkSuggestion__Link-sc-1mdih4x-2 jZPuuT" href="https://nigeriantracker.com/2020/07/01/nigeria-and-the-series-of-development-plannings/" target="_blank" rel="noopener noreferrer">Read also: Nigeria and the series of development plannings</a></p>
<p>“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,” the update read.</p>
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<p>“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.”</p>
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<p>Shoprite launched in Nigeria almost 15 years ago, opening its first store in Lagos in December 2005.</p>
<p>That chain has grown from one to more than 25 retail stores across Nigeria — including some of the biggest retail stores in west Africa including Kano state in Northwest Nigeria.</p>
<p>That chain has grown from one to more than 25 retail stores across Nigeria — including some of the International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported a 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw an 8.7% rise for the year.</p>
<p>As a result of lockdown, customer visits declined 7.4% but the average basket spends increased by 18.4%. biggest retail stores in west Africa including Kano state in Northwest Nigeria</p>
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