Shoprite sells Nigerian business to local firm Ketron 02 June 2021 - 17:44 By Nqobile Dludla Since its launch in Lagos in December 2005, Shoprite has expanded to more than 25 retail stores across Nigeria, including some of the largest in West Africa. Image: REUTERS/Afolabi Sotunde/File Photo
Shoprite Holdings has sold its Nigerian business to local buyer Ketron Investment, nearly 16 years after the retailer opened its first outlet in the country.
Shoprite entered into a share purchase agreement with Ketron, a Nigerian company owned by a group of institutional investors led by property group Persianas, for the disposal of its entire interest in Retail Supermarkets Nigeria Limited, the companies said.