Shoprite’s operations in Nigeria appear to be in dire straits, four years after the South African retail giant exited the country’s supermarket business.
Daily Trust reports that outlets in Ibadan and Ilorin have already shut down, while stores still operating in Lagos, Abuja, and other cities now have visibly empty shelves.
Since opening its first outlet in Lagos in 2005, Shoprite grew into a household name with more than 25 stores across eight states and the Federal Capital Territory, directly employing over 2,000 workers and supporting local suppliers, especially farmers.
But rising inflation, supply chain disruptions, and intense competition have steadily eroded its dominance in Nigeria’s retail space, leaving the company with mounting financial losses.
Shoprite’s parent firm had earlier shifted focus back to its South African market, switching to a franchise model and shutting operations in several African countries including Nigeria, Ghana, Kenya, and Uganda.
In 2021, after 16 years of operation, Shoprite sold its Nigerian business to a group of local investors, citing harsh market conditions as the reason for its withdrawal.
About The Author
More Stories
Nigerians Were Ready To Pay N10,000 Per Litre For Fuel At A Time But It Wasn’t Available — Senate President Akpabio
Nigeria Debt Rises To N159.28trn As Each Nigerian Owes About N724,000
Gateway Air Begins Abuja, Port Harcourt, Calabar, Jos, And Kano Flights