One of Africa’s largest retailers, Shoprite has denied reports making the rounds that it has concluded plans to leave the Nigerian market.
It was widely reported that the company in an announcement on Monday said that it has put up its sales outlets for auction, adding that it has begun formal process to stop all its operations in Nigeria.
But in an interview with Vanguard on Monday, the Country Director for Chastex Consult, Ini Archibong, said Shoprite is not leaving Nigeria.
He said: “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 doesn’t sound right.
“We have only just given 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 as too many people as I can. There should be no panic at all and all of that. There is no truth in that report.”
