South African Company, Shoprite Holdings Limited, has announced that it Is planing on exiting the Nigerian market.
The company said it would shut down operations in the country by disposing a 100 per cent equity stake in its Nigerian retail supermarkets.
In its latest financial report for December 2020 statuctaics obtained from the company’s website on Tuesday, Shoprite stated that the company was awaiting approval from the Federal Competition and Consumer Protection Commission after lodging the transaction with the commission.
According to the company, the management expects the transaction to be approved by the end of the 2021 financial year.
Shoprite added that the management was in the process of concluding a franchise agreement for the Shoprite brand to remain in Nigeria as well as an administration and services agreement to provide support to the new shareholders with operating the outlets.
The Chief Executive Officer, Pieter Engelbrecht said, We are at the approval stage in terms of the sale of our Nigeria supermarket operation.
From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can.
Statement of comprehensive income reflects profit from discontinued operations separately; assets and liabilities relating to the Nigeria operations disclosed as held for sale, the report stated. From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can.
From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can.
The Chief Executive Officer, Pieter Engelbrecht said, We are at the approval stage in terms of the sale of our Nigeria supermarket operation.
South African Company, Shoprite Holdings Limited, has announced that it Is planing on exiting the Nigerian market.
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This is Savage how would the south African shoprite stake holders plan on exiting Nigeria CEO it won't be nice at all
That good lord please keep the man nothing shall make them to the man
This is really bad. Anyway, another company will rise in Nigeria in a mean time.
They are not exiting Nigeria they’re giving Nigeria partnership
Haha this is really bad but I think it's not advisable to exit it
Maybe if they exited Rich Nigerian can also think of something like that to their country
The Chief Executive Officer, Pieter Engelbrecht said, We are at the approval stage in terms of the sale of our Nigeria supermarket operation, please don't exist Nigeria
This is very bad day to day by localized the city may God help us
He is just blabbing Because that will be a very huge loss to them He knows the income he gets in Nigeria daily
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If they deem it fit to leave Nigeria, it's ok. They know what is best for them
This is really bad but I don't think is advisable to exist it
The Chief Executive Officer, Pieter Engelbrecht said, We are at the approval stage in terms of the sale of our Nigeria supermarket operation.!!!!!!!
Maybe if they exited Rich Nigerian can also think of something like that to their country!!!
This will be a big issue ooo, a lot of people will be unemployed again
They should not exit Nigeria market they are making their sales and meeting the demands of people
So far they are making their sales and meeting needs of people there is no need to go
They should please not exit Nigeria o, because I like going to shoprite
Nigeria with this problem of companies exiting itit same thing with coca cola too I just pray they don't
It actually bad for them to shut down their company her in Nigeria
The company said it would shut down operations in the country by disposing a 100 per cent equity stake in its Nigerian retail supermarkets
From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can. Reply
The exit of shoprite will lead to an increase in the unemployment rates. From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we ca
This is really bad. But,very soon another company will rise in Nigeria in a mean time.
This is really bad because it might affect our economy
Hmmm,not bad,if taken over by indigenous companies,I know dey will handle it much better
This is not good decision for them, why are they existing in Nigeria with all those business in every cities in Nigeria
This is very bad they should not exit Nigeria at all may God help us
This is so sad may the Good lord help us they won't exit Nigeria
This is so sad shoprite should not exit Nigeria may God help us
Unemployment will be very rampard they should sit and go back to there drawing board again and think it through.
I don't think they can do it because alot of people love that place
Sound bad, how I wish some reach guys in Nigeria can just buy it
This is not okay at all....they should not exit abeg ooo
That's really bad for them I hope they can resolve it soon
I reaally don't know why this govt is killing our economy making investor to exit ou
From here, our capital allocated to the region remains at a minimum and we continue to manage costs as best as we can.hmmm
Anyway, another company will rise in Nigeria in a mean time that will better than shoprite
Shoprite or no shoprite we move on, there is supermarket to dependon
This is Savage how would the SA shoprite stake holders plan on exiting Nigeria CEO
From here our capital allocated to the region remains in a minimum to manage cost as best as we can
This is really bad i don't think is a good idea to exit him
That cool they should do there best and make sure things are out in place before maky decision
Well if they want to no problem But it just that it will affect us Because Soo many people are use to going to ShopRite to chop so it will be very hard oo
This is unbelievable mehn, they can't just exit Nigerians from there beautiful sales
Ahh this isn't a good plan ... It's really going to affect this Continent God will be with us all
A lot of people will lose their job. This is bad
This is serious South African Company, Shoprite Holdings Limited, has announced that it Is planing on exiting the Nigerian market.
South African Company, Shoprite Holdings Limited, has announced that it Is planing on exiting the Nigerian market too bad
Not good initially it didn't Favour the poor but very soon another one better will show up
According to the company, the management expects the transaction to be approved by the end of the 2021 financial year.
This is very bad oooo.... A lot of people will be unemployed now
This is funny it seems the chief executive officer has done something wrong.
Remember you are doing that will not cost any lost in that environment it could be a means for people choice
Then we the Nigeria it like we have to depend on the supermarket to supply us our goods
Why do they want to leave but they have made a lot of money in nigeria
Nigerian should Learn how to have their own shop rite too
They should at least help our economy Coz if ShopRite leave Nigeria It may have an effect on our economy
Anyway, if they want to go, let them go. We have a lot of other shopping mall .
This is really bad, but very soon another one will rise up
This is really bad but I don't think is advisable to exist it.....In my opinion sha
Rich Nigerian should really think of starting up something like that
Ok no problem b
