Shoprite is keeping its focus firmly on its home market as it retreats from its Nigerian and Kenyan operations, but it remains on the lookout for potential deals.Shoprite CEO Pieter Engelbrecht said this week: "There is a lot for us to still develop and innovate and get value from here [in SA], but I am always looking for an opportunity." Shoprite's ambition is to continue its impressive growth trajectory in its core South African business. "I see that a lot of retailers are moving back to their home markets. Very few have been successful outside of their home markets and that includes Walmart and guys like Tesco," he said. There was a "secondary notion to that", which was that governments were trying to protect their own markets. This had been exacerbated by the Covid-19 pandemic and border controls that were instituted."Governments are now trying to protect their own countries. They don't really want foreign companies to come and import stuff into the country, change thei...
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