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.
If Shoprite wants to stay,they can stay;if they want to go,they can go;it will help local supermarkets to grow.
— Senator Shehu Sani (@ShehuSani) August 3, 2020
Finally,the Buhari inefficiency has fingered Shoprite;like everything else. The silence from the 30k a month crew is cos they are right now in their WhatsApp group waiting for talking-points on how to spin this one.Let me give them a key:blame it on Covid. The GEJ angu is stale.
— Mazi Gburugburu (@Mazigburugburu1) August 3, 2020
Shoprite leaving Nigeria doesn't mean the buildings will be closed, it just means new business owners will take over.
Be hopeful for the best 🤞
— Bayo (@mr_adebayo5) August 3, 2020