ShopRite, the South African grocery business, which came into Nigeria about 15 years ago is set to exit its largest market.
ShopRite is currently considering the outright sale of or some percentage of its investment in Nigeria to potential investors.
Some stakeholders in the Nigerian business community in reacting to the move by ShopRite, have stated that the exit of the grocery retailer will result in the loss of jobs. They have also blamed Nigeria’s multiple taxation, VAT increase, economic instability and unfavourable government policies as being responsible for the potential exit of ShopRite.
