Shoprite has denied the story making the rounds that it intends to close its operation in Nigeria.
According to Vanguard, the Country Director of Chastex Consult, Ini Archibong, said: “Shoprite is not leaving Nigeria.”
Contrary to claims that Shoprite is leaving Nigeria, Archibong said the business is only opening its doors to local investors.
“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 $30 billion investment and close shop? It doesn’t sound right.
“We only gave 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 to many people as I can. There should be no panic at all and all of that. There is no truth in that report,” Archibong said.
Many media outlets had reported on Monday morning that 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.
The reports said the retailer had struggled in the Nigeria market after some South African owned retailer shops exited the Nigeria market.
Shoprite ventured into the Nigeria market in 2005, the retail supermarket currently boasts of over 2000 employees populated by Nigerians and engagement of more than 300 small business owners and farmers in the country.