Pick n Pay plans to tap into growth opportunities in the rest of Africa over the long term as it announced a 4.3 percent increase in group turnover to R93.1 billion during the 52 weeks ended in February compared to a year earlier. Photo: Simphiwe Mbokazi African News Agency (ANA)
Pick n Pay plans to go big in Africa
By Dineo Faku
Share
JOHANNESBURG - PICK N PAY plans to tap into growth opportunities in the rest of Africa over the long term as it announced a 4.3 percent increase in group turnover to R93.1 billion during the 52 weeks ended in February compared to a year earlier.
Shoprite insists on sale of Nigerian outlets
today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
Shoprite insists on sale of Nigerian outlets
dailytrust.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytrust.com Daily Mail and Mail on Sunday newspapers.
It said the board decided to formally exit its operations in Nigeria over unfavourable market conditions.
“The Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited. As such, RSNL may be classified as a discontinued operation when Shoprite reports its results for the year,” the management said in the update.
Shoprite Holding in the latest publication of its financial report for December 2020 operations, under its non-current assets held for sale and discontinued operations, maintained that in the short-term, “Strategic shifts made with the Nigeria sale and Kenya closures.