Shoprite plans to pull the plug on its Kenyan operations by December, stepping up a retreat from a cross-border expansion that once underlined its relentless push for higher returns.

Africa’s biggest grocer, which also reported a 16.6% increase in annual profits, is in the middle of reviewing a long-term strategy pushed by former CEO Whitey Basson, who rolled out hundreds of stores in risky but lucrative markets such as Nigeria, Angola and Zambia.

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