South Africa’s grocery store, Shoprite, is set to leave Nigeria, Africa’s biggest market, after operating in the country for a period of 15 years.
In a statement on Monday, the company said it has been approached by potential investors willing to take over its Nigerian operations. So, it is considering an outright sale of its operation in its Nigerian subsidiary.
This news has not been well-received by some Nigerians, while some argue that it is good for small business growth at large.
Below are some reactions:
The Board of Africa's biggest retailer, Shoprite, has announced plans to discontinue operations in Nigeria after 15 years in. While this may open up opportunities for local investors in that sector, it is a bad pointer to what Nigeria has become as an investment destination. pic.twitter.com/GYTTIrHrmM— Ayò Bánkólé (@AyoBankole) August 3, 2020
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