The social media has been agog with mixed reactions and debate after news broke on Monday that South Africa retail giant, Shoprite plans to leave Nigeria.
The company earlier which is one of Africa’s largest supermarket chains, earlier announced that it had begun a formal process to exit – 15 years after it began operations in the country.
Shoprite explained in a trading update it published earlier that it took the decision following approaches from various potential investors.
In a statement, the company said it has been approached by potential investors willing to take over its Nigerian operations. So, it is considering an outright sale of its operation in its Nigerian subsidiary.
The statement said that this was in line with its re-evaluation of the Group’s operating model in Nigeria, saying its business in the country “may be classified as a discontinued operation” when it reports results for the year.
Also, the latest update showed that Shoprite’s Nigerian business posted a – 6.3 percent decline in sales for the year ending June 2020.
The announcement to exit the comes about two months after another South African retailer, Mr Price, said it would close its Nigerian business.
However, the news of Shoprite’s exit has sparked various reactions from Twitter users, including Senator Shehu Sani who represented Kaduna Central senatorial district in the Eight National Assembly.
While some Twitter users blamed the government for the decision taken by the South African firm, others saw their move as a positive development for Nigerian business.
Yet, others said that the decision of the supermarket would lead to loss of jobs for many Nigerians.
