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General News of Monday, 3 August 2020

Source: www.mynigeria.com

Nigerians react as Shoprite prepares to exit country

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Nigerians have taken to social media to air their displeasure at the news that retail giant, Shoprite, will be leaving the country.

The development was disclosed during the operational and voluntary trading update of Shoprite Holdings Limited for the year.

The company stated that the decision was taken “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 Limited may be classified as a discontinued operation when Shoprite reports its results for the year. Any further updates will be provided to the market at the appropriate time".

The company which has 26 outlets in Nigeria also revealed that its businesses outside of South Africa recorded losses.

Below are some reactions from Nigerians as gathered by MyNigeria.com.

@ShehuSani wrote: "If Shoprite wants to stay, they can stay; if they want to go, they can go; it will help local supermarkets to grow".

@__Omoisy wrote: "Mr Price left Nigeria. Shoprite is about to leave Nigeria. Innoson shut down operations in Nigeria and moved to SA. Nothing thrives in this country, not dreams, not businesses, just corruption and vibes."

@dammiedammie35 wrote: "So Shoprite is leaving Nigeria, thousands of people will be without jobs now, other thousands depending on those people’s incomes. My new neighbor works with Shoprite in Ibadan & he has 3kids, his wife is a private school teacher and hasn’t worked in a while..."

@_Sirwilliam_ wrote: "ShopRite leaving is proof you need that Buhari is an economic failure. Nigerians are poorer, FDI is leaving and foreign companies are closing. You don't fight poverty by closing your borders for trade. You will just create a man-made inflation & worsen poverty".

@vhic_tore wrote: "Dear slay mamas, bear in mind that it's Shoprite that's leaving not the malls. You'll still have places to take your pictures, without the yellow nylon though".