Shoprite is exiting Nigeria after 15 years of being a part of Africa’s most populated country.
The South African based retailer has reportedly begun the formal process of considering the potential sale of all or majority stake in its supermarkets in Nigeria.
The development was made known in a trading statement released on Monday, August 3, 2020.
South African retailers have struggled in the Nigerian market for years and recently Mr Price has exited the market after Woolworths did the same six years ago.
In the statement released, Shoprite revealed that the results for the year do not reflect any of their operations in Nigeria as it will be classified as a discontinued operation.
Due to the COVID-19 lockdown, customer visits to the retailer dropped by 7.4% as the average basket spend increased by 18.4%.
Twitter users have reacted to the news, with majority of them lamenting the implications of such a move. See their reactions below.
Shoprite plans to discontinue operations in Nigeria.
Well this sounds good for locals but a negative scorecard that will discourage foreign investments in this country. pic.twitter.com/anTePjN5aa
— AyeMojubar 🇨🇳🇳🇬 (@ayemojubar) August 3, 2020
"Shoprite" leaving Nigeria is going to be a hard time on its Workers. pic.twitter.com/fhCpXiMwtp
— John Bosko (@MaziJohnBosko) August 3, 2020
Shoprite leaving Nigeria? Unto the NEXT one. pic.twitter.com/Om5ezs2H4x
— dEVILLE. (@Del_Arth) August 3, 2020
ShopRite leaving Nigeria is a huge red flag. It's not an "opportunity" for wealthier Nigerians to buy the franchise. Who will they sell to? The same customers with low purchasing power in an anti-capitalist economy that is making ShopRite leave in the first place?
— josué (@joshnekoff) August 3, 2020
Buhari's media handlers will soon come out and tell us how shoprite was corrupt and people in the past administration were using it to launder money hence the closure.
— Shiishi Gyer (@Kuma_Tor) August 3, 2020
Even Shoprite worthing billions of Dollars is leaving Nigeria. Who am I not to leave? Me that all my asset isn't worth 12k. pic.twitter.com/GqU3GNLWfK
— Danny (@danielbalogun3) August 3, 2020
Imagine the thousands of Nigerians that'll be rendered jobless when shoprite eventually leaves☹️
— Vannnniiiieeee_😋 (@Evans_Bjnr) August 3, 2020
Imagine the amount jobs that would be lost and and the effect of our economy only by shoprite leaving Nigeria…
I feel pained honestly…
Just imagine the chain of businesses that would suffer from this.
Can they reverse their decision? pic.twitter.com/C7QJqyp2Fa
— Nonso (@Nonso_opinion) August 3, 2020
There’s Ebeano, hubmart, and so many other supermarkets have cropped up.
— Arsenal’s Bunny. (@Bubble_minakie) August 3, 2020
This Nigeria ehn…they will sha kill your dreams somehow. They will strangle, suffocate any good thing. They killed Opay…now shoprite.
Lots of people are going to lose jobs now#ShopRite
— Pius Omogbethai (@OmogbethaiPius) August 3, 2020
I heard ShopRite is leaving Nigeria soon, any news about DSTV & MTN leaving soon too ?
— SANTORINI (@kinqqkudos) August 3, 2020
Shoprite leaving Nigeria? Not surprised at this point. This Government is set out to kill everything positive left in the country.
— Fego (@JayRomee_) August 3, 2020
What really are people's issues with Shoprite in Nigeria.
I can see us fingering so many problems, but not actually one that discredits their reason to be in this country
— Uncle Majek Fashek (@ij_kush) August 3, 2020
Na small small, the country dey spoil dey go.
Get out while u can.
Shoprite dem smart.
— Hordarphey (FPL_Newbie) (@hordarphey) August 3, 2020
Shoprite about to leave!
I’m short of words , we should all put on sackclothes and ashes , this administration has ruined us
And be ready for a spin before the end of the day from clowns
— Jake Corleone (@Hitee_) August 3, 2020
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