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Shoprite to Sell Nigerian Unit to Property Firm Persianas

Shoprite to Sell Nigerian Unit to Property Firm Persianas Bloomberg 2 hrs ago Anthony Osae-Brown and Janice Kew © Bloomberg Residents queue to receive their South African Social Security Agency (SASSA) grant payment at Alex Shopping Mall in the Alexandra township of Johannesburg, South Africa, on Friday, June 5, 2020. While central banks and governments in North America, Asia and Europe have offered trillions of dollars to prop up businesses hit by lockdowns and provide a safety net for the swelling ranks of the unemployed, a lack of liquidity restricts African governments from providing similar relief. (Bloomberg) Shoprite Holdings Ltd. plans to sell its Nigerian division to a local property group, as Africa’s largest food retailer pulls back from the continent’s most populous country.

Shoprite Eases Africa Push to Focus on Domestic Market Gains

Shoprite Eases Africa Push to Focus on Domestic Market Gains Bloomberg 3/16/2021 Janice Kew © Bloomberg A customer s shopping bags sit on the payment counter inside a Shoprite Holdings Ltd. store in Cape Town, South Africa, on Wednesday, Dec. 21, 2016. South Africa was a bright spot for banks on the continent in 2016, with stocks shrugging off the nation s economic woes to head for the third-best performance in the past decade. (Bloomberg) Shoprite Holdings Ltd. switched its focus firmly toward taking market share in its home market of South Africa, after opting to withdraw from Nigeria and Kenya and move more cautiously in Angola.

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