With the Covid19 lockdown, job losses and unknown source of income for many, more are still about to lose their jobs in Nigeria as the famous South African supermarket ShopRite are planning to exit the country after 15 years of its existence.
For the grocery retailer to make the rather certain decision to exit the Most populated Country of the Continent after 15 years of activities, then it most have suffered a significant issue.
According to Instablog9ja, the Cape-Town retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end in June released on Monday.
I’m the statement , ShopRite said the results for he year do not reflect any of their operations in Nigeria, as it will be classified as discontinued operation.
The supermarket contributed 11.6% to group sales, and reported 1.4% Decline in sales since 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year. As a result of lockdown , customers visit declined 7.4% but the average basket spend increased by 18.4%
The issue now being that this retail supermarket for 15 years has given Nigerians some sort of hangout spots, Jobs, cheaper purchases and a sense of excitement and that is about to me taken away from them.
But they are hoping that the local one man supermarkets will take advantage of this exit to grow their own chain of supermarkets and promote the locally own goods, there by giving jobs. Nigerians are also hoping that the president and law makers will equally come up with a way to take advantage of this exit.