Shoprite to exit Nigeria after 15 years

South African retail giant, Shoprite is considering selling its Nigerian operations according to Bloomberg.

This process was initiated after the grocer said in November that it was reviewing its supermarket operations outside South Africa and would consider exiting certain countries if that would help reverse regional sales declines.

The retailer has been battling currency-induced inflation surges in several other African countries.

Its proposed exit from the Nigerian market has generated thunderstorm of reactions on the Nigerian space as many fears loss of jobs.