Shoprite Holdings Limited made the announcement on Monday in its operational and voluntary trading update for the year ended on June 28, 2020.
The multi-national retail group, which announced a 6.4 per cent increase (R156.9billion) in total sales of merchandise for the outgoing year despite the challenges posed by the COVID-19 pandemic, announced that it decided to stop all its Nigeria operation.
“following approaches from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria.
The Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited. As such, Retail Supermarkets Nigeria.