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Thursday, September 24, 2020

Forgotten European atrocities in Africa: Peek into abuses and man’s inhumanity to man

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Bill Gates confident coronavirus vaccine will work in Africa, but Africans on Twitter not having it

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Shoprite joins Woolworths, Mr Price as it exits Nigeria after 15 years

Africa’s biggest grocery retailer, Shoprite, is set to follow in the footsteps of Woolworths and Mr. Price as it exits the continent’s most populated country, Nigeria, after 15 years.

The Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released on Monday.

South African retailers have struggled in the Nigeria market and most recently Mr Price has exited the market after Woolworths did the same six years ago.

In the statement, Shoprite said the results for the year do not reflect any of their operations is Nigeria as it will be classified as discontinued operation.

International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.

As a result of lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.

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