Skip to main content

SHOPRITE DEBUNKS EXIT RUMOUR, SAYS "WE'RE STILL VERY MUCH AROUND"

By: Agosu Omoleye



Shoprite Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria. The new week started with the rumours of Shoprite's exit from the Nigerian economy and quite a lot of analysts have wondered why the retail giant have to tow this line at this crucial stage in the global economy.

The Country Director for Chastex Consult, Ini Archibong said: "Shoprite is not leaving Nigeria.

"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 invest and close shop? It doesn't sound right.

"We have only just given this opportunity to Nigerian investors to come in and help drive our expansion plans in Nigeria. So we are not leaving as rumoured.

"I have tried to say this to so many people as I can. There should be no panic at all. There is no truth in that report."

Recall that reports have been circulating 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 report said the retailer had struggled in the Nigeria market after some South African owned retailer shops exited the Nigeria market.

The report further stated that Shoprite results for the year do not reflect any of their operations in Nigeria as it will be classified as a discontinued operation.

The report also said international markets excluding Nigeria contributed 11.6 per cent to the group sales and reported 1.4 per cent decline in sales from 2018.

South African operations contributed 78 per cent of the overall sales and saw 8.7 per cent rise for the years.

The report went further to say that as a result of the lockdown, customers' visits declined 7.4 per cent but the average basket spends increased by 18.4 per cent so there is no cause for alarm as the retail giant is still very much around.


Comments

Post a Comment

Popular posts from this blog

REAL MADRID FC MOVES UP LA LIGA TABLE FOLLOWING LEVANTE VICTORY

Real Madrid moved to the top of La Liga on Sunday as Vinicius Junior and Karim Benzema both scored in a 2-0 win over Levante. Vinicius, who had proved decisive in Madrid’s win over Real Valladolid on Wednesday, looked set to see off Levante as well, before Benzema notched his first goal of the season late on. Madrid have now recorded three clean sheets from their four opening games, although a draw away at Real Sociedad has given an early advantage to Barcelona, who play away at Sevilla later on Sunday. “We had to suffer,” said Zinedine Zidane. “We had chances in the second half to kill the game and that would have made it different. We suffered a lot because they also had chances.” Madrid and Barca had earlier played out the first ever women’s Clasico after Madrid finally launched their female team this season. Yet Barcelona showed their superiority in a 4-0 rout. But the men’s team have become something of a defensive juggernaut under Zidane after their solidity and resilience formed...
Post a Comment
Read more

GOVERNOR IKPEAZU FIRES TRANSPORT COMMISSIONER

By: Elvis Joseph Abia State Governor has sacked his  Commissioner of Transport, Ekele Nwaohammuo. This was contained in a statement titled, ‘Government special announcement’ by Chief of Staff to the Governor, Dr. Anthony Agbazuere, on Sunday.   It added that the Transition Committee Chairmen for Aba North, Victor Ubani; Aba South Cherechi, Wogu and Ibe Local Government Areas, Umunnoechi Mathew were also suspended. The statement read, “The Governor of Abia State, Okezie Victor Ikpeazu, Ph.D. has approved the immediate suspension of the following. “The General Manager of Traffic and Indiscipline Management Agency of Abia State. “The Transition Committee Chairman of Aba South Local Government Area. “The Transition Committee Chairman of Aba North Local Government Area. “The Governor has also relieved the Commissioner of Transport, Barr. Ekele Nwaohammuo of his appointment as Honourable Commissioner. “The Transition Committee Chairman of Umuneochi LGA, Engr. Mathew Ibe has equally ...
Post a Comment
Read more

OYO ASSEMBLY HOLDS SPECIAL SESSION FOR FORMER GOVERNOR

By: Teni Aluko The Oyo state house of Assemby today held a special sitting in honour of the former governor of Oyo state Senator Abiola Ajimobi who left for the great beyond exactly week ago.  Abiola Ajimobi was the Oyo state governor between 2011-2019. He worked meritoriously and recorded quite a lot of landmarks during his tenure. Ajimobi was appointed Deputy National chairman South of the All progressives Congress before he died last week Thursday. The Speaker of the House of Assembly Rt Hon Debo Ogundoyin in his speech said the late governor was able to change the political landscape of the State through his three points agenda of Restoration, Transformation and Repositioning. ”He also  made his impact in governance, he greatly improved the environmental sanitation of the state especially in the Capital City of Ibadan.” Other lawmakers who spoke at the special sitting described Ajimobi as a great man whose immense contribution to the development of the state cannot be easi...
Post a Comment
Read more