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Home Lifestyle Metro 'We are not leaving Nigeria' - Shoprite

‘We are not leaving Nigeria’ – Shoprite

Contrary to the reports going around that Shoprite has decided to leave Nigeria over unfavourable economic conditions, the company has revealed that this is not true.

The reports alleged that the retailer, which is based in Cape Town, South Africa, has started the formal process to consider the sale of all or a majority stake in its shares in Nigeria.

In the same trading statement, it was claimed that the retailing giant said that the recently released results do not reflect their operations in Nigeria as it will be classified as a discontinued operation.

Now, the Country Director for Chastex Consult, Ini Archibong, told Vanguard Nigeria that the retailing giant is not leaving Nigeria after all.

“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 $30billion investment and close shop? It doesnÔÇÖt 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.”

Simbiat Haroun studied Computer Science at the University of Lagos. She enjoys doing research and spends most of her time reading. She can be contacted at simbiat@sidomexuniversal.com.


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