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...

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