SHOPRITE

Shoprite Denies Reports It is Leaving Nigeria

Shoprite Nigeria has denied reports that it intends to close shop in Nigeria.

According to Vanguard, Ini Archibong, the Country Director for Chastex Consult confirmed that Shoprite is not closing operations in Nigeria. Archibong, told Vanguard: “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 just given 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 as too many people as I can. There should be no panic at all and all of that. There is no truth in that report.”

On Monday, widespread media reports said the retail outlet has started a formal process to consider the potential sale of all or a majority of stake in its supermarkets in Nigeria.

More to come…

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