News Leader
WATCH: Shoprite’s growing African footprint
Shoprite CEO Pieter Engelbrecht told investors at its results presentation that it would not have considered Kenya five years ago because it was home to three established retailers. However, things have changed and the Kenyan retail space is in disarray, Nakumatt, once East Africa’s top retailer, filing for bankruptcy. Shoprite has been in talks with property owners in Kenya to fill the spaces left by Nakumatt and on Tuesday announced that is had secured seven sites and leases as a result. Shoprite plans to open its doors in Kenya by the end of the year. Engelbrecht spoke to Business Day TV about the retailer’s plans. OR LISTEN TO THE AUDIO: Listen to all latest podcasts here.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.