Shoprite Officially Sells Nigerian Business To Property Company

A Nigerian property company will be taking over Shoprite’s local business in Nigeria, Reuters reported on Wednesday, citing multiple sources.
Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details about the deal have been disclosed.

The company in August 2020 announced that it will be exiting the Nigerian market after over 15 years.
Shoprite said that its business in Nigeria operated under Retail Supermarkets Nigeria Limited “may be classified as a discontinued operation.”

The business enterprise stated it has been approached with the aid of potential traders inclined to take over its Nigerian operations. It stated it is thinking about an outright sale or parting with a majority stake in its Nigerian subsidiary.

“Following strategies from numerous potential investors, and in step with our re-evaluation of the Group’s operating version in Nigeria, the Board has determined to initiate a formal method to remember the ability sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited,” Shoptite said.

“As such, Retail Supermarkets Nigeria Limited can be labeled as a discontinued operation whilst Shoprite reports its effects for the 12 months. Any further updates may be provided to the market at an appropriate time.”

Shoprite at the time denied it become exiting Nigeria, noting that no one “leaves over $30 billion funding and near shop”.

While the enterprise is yet to present similarly info of its exit plans from the Nigerian market, the statement has led to a sequence of warmth between Shoprite and its employees.

Shoprite vs Nigerian group of workers

Shoprite team of workers have close down major retailers at one-of-a-kind times, with the workers protesting what they defined as adverse operating situations and uncertainty in their employment repute amidst the capability takeover through a new owner.

Fears of layoff and a capability go back to the street compelled the team of workers, a number of which can be casual people, to demand payoff for his or her years of provider.

“We are right here to fight for our rights – our payoffs and compensation,” a male Shoprite personnel advised The Guardian in March 2021.

“We say no to trendy-slavery,” says one of the notices published at the locked doorways of the store on the Festival Mall.

Read More: Protesting Shoprite workforce lockdown Lagos stores

A protesting group of workers at Ikeja stated the deliberate takeover of the agency by means of new investors as a part of the cause for the protest.

He said the protesters are not “privy to their (new buyers) plans for us” after some of them have worked for the business enterprise for close to 10 to 15 years.

One of the group of workers insisted that they all deserved a payoff “after a few body of workers here has labored for 10 and 15 years (with) no advertising” with very little increment in salaries during their years of working with the agency.

Another group of workers stated, “we're scared of our new investor due to the fact we don’t recognise their plans. They could are available with their group of workers.”