Shoprite, one of the first SA companies to expand into Nigeria is pulling out after 15 years, a huge change in the long-term strategy pushed by former CEO Whitey Basson.

It marks a walking away from the country by yet another SA company, as Shoprite follows Tiger Brands, Woolworths and Mr Price. Nigeria’s huge market potential has been damaged by currency devaluations, weakening oil prices and challenges from earnings in local currency but supplies paid in dollars...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now