Sunday, January 29, 2023
No Result
View All Result
News Den Nigeria
  • HOME
  • NEWS
    • NIGERIA
    • AFRICA
    • WORLD
  • POLITICS
  • BUSINESS
  • SHOWBIZ
  • EDUCATION
  • HEALTH
  • TECHNOLOGY
  • SPORTS
  • OPINION
  • MORE
    • FEATURES
    • INTERVIEWS
    • RELIGION
    • RELATIONSHIP
    • VIDEOS
  • HOME
  • NEWS
    • NIGERIA
    • AFRICA
    • WORLD
  • POLITICS
  • BUSINESS
  • SHOWBIZ
  • EDUCATION
  • HEALTH
  • TECHNOLOGY
  • SPORTS
  • OPINION
  • MORE
    • FEATURES
    • INTERVIEWS
    • RELIGION
    • RELATIONSHIP
    • VIDEOS
No Result
View All Result
News Den Nigeria
No Result
View All Result

Who Will Leave Over A $30 Billion Investment? – ShopRite

by NewsDen Publishers
August 3, 2020
in NEWS, NIGERIA
0
Who Will Leave Over A $30 Billion Investment? – ShopRite
Share on FacebookShare on TwitterShare on WhatsappSend to Email

SHOPRITE Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria.

The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard, said: “Shoprite is not leaving Nigeria.

“We have only just opened to Nigerian investors which we have also been talking to just before now.

Maris School Admission Maris School Admission Maris School Admission
ADVERTISEMENT

“We are not leaving, who leaves over a $30billion investment and close shop? It doesn’t sound right.

AlsoRead

Ketron Buys Shoprite Nigeria

“We are only just given this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.

“I have tried to say this as too many people as I can; there should be no panic at all and all of that. There is no truth in that report.”

Recall that reports have been circulating that the retail outlet has started a formal process to consider the potential sale of all or a majority of stake in its supermarkets in Nigeria.

The report said the retailer had struggled in the Nigeria market after some South African owned retailer shops exited the Nigeria market

The report further stated that Shoprite results for the year do not reflect any of their operations in Nigeria as it will be classified as a discontinued operation.

The report also said international markets excluding Nigeria contributed 11.6 per cent to the group sales and reported 1.4 per cent decline in sales from 2018. South African operations contributed 78 per cent of the overall sales and saw 8.7 per cent rise for the years.

The report went further to say that as a result of the lockdown, customers’ visits declined 7.4 per cent but the average basket spends increased by 18.4 per cent.

ShareTweetSendSend
Previous Post

Okowa Describes Ibori As Father Of Modern Delta

Next Post

Okowa Salutes Oyovbaire At 79

Related Posts

Restructuring Key To Nigeria’s Progress – Atiku
NEWS

Restructuring Key To Nigeria’s Progress – Atiku

by NewsDen Publishers
January 26, 2023
PDP Will Secure Nigeria, Grow Our Economy – Atiku 
NEWS

PDP Will Secure Nigeria, Grow Our Economy – Atiku 

by NewsDen Publishers
January 24, 2023
CBN To Sanction ATM Dispensing Old Naira
BUSINESS

CBN To Sanction ATM Dispensing Old Naira

by NewsDen Publishers
January 19, 2023
Just In: Supreme Court Dismisses Abacha Family’s Bid To Stop Fresh Probe
NEWS

Just In: Supreme Court Dismisses Abacha Family’s Bid To Stop Fresh Probe

by NewsDen Publishers
January 13, 2023
Massive Turnout Of Prospective Voters As Okowa Leads PDP Campaign Train To Oborevwori’s Home Town
NEWS

Massive Turnout Of Prospective Voters As Okowa Leads PDP Campaign Train To Oborevwori’s Home Town

by NewsDen Publishers
January 12, 2023
Next Post
Okowa Salutes Oyovbaire At 79

Okowa Salutes Oyovbaire At 79

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

LATEST

Restructuring Key To Nigeria’s Progress – Atiku

Restructuring Key To Nigeria’s Progress – Atiku

January 26, 2023
PDP Will Secure Nigeria, Grow Our Economy – Atiku 

PDP Will Secure Nigeria, Grow Our Economy – Atiku 

January 24, 2023
CBN To Sanction ATM Dispensing Old Naira

CBN To Sanction ATM Dispensing Old Naira

January 19, 2023
Just In: Supreme Court Dismisses Abacha Family’s Bid To Stop Fresh Probe

Just In: Supreme Court Dismisses Abacha Family’s Bid To Stop Fresh Probe

January 13, 2023
How YAGEP Helped To Expand My Business – Esiphri

How YAGEP Helped To Expand My Business – Esiphri

January 13, 2023

TRENDING STORIES

  • Could You Have Silent Diabetes? Here’s How To Tell – And What You Can Do About It

    Could You Have Silent Diabetes? Here’s How To Tell – And What You Can Do About It

    0 shares
    Share 0 Tweet 0
  • Oborevwori Appoints Political Adviser

    0 shares
    Share 0 Tweet 0
  • 2023: Onyeme, Others Give Reasons Why Nigerians Will Vote For PDP

    0 shares
    Share 0 Tweet 0
  • Founder Of Missionary Sisters of Our lady of Perpetual Help, Effiom Is Dead

    0 shares
    Share 0 Tweet 0
  • 6TH ANNIVERSARY OF OKOWA ADMINISTRATION: Mercy Chinwo, Paul Nams, Sinachi, Others Storm Asaba

    0 shares
    Share 0 Tweet 0
  • HOME
  • ABOUT US
  • CONTACT US

© 2020 - 2021 NEWS DEN - Published by: GOLDSON'S RESOURCES.

No Result
View All Result
  • Home
  • NEWS
    • NIGERIA
    • AFRICA
    • WORLD
  • POLITICS
  • SHOWBIZ
  • EDUCATION
  • BUSINESS
  • HEALTH
  • TECHNOLOGY
  • SPORTS
  • OPINION
  • MORE
    • FEATURES
    • INTERVIEWS
    • RELIGION
    • RELATIONSHIP
    • VIDEOS

© 2020 - 2021 NEWS DEN - Published by: GOLDSON'S RESOURCES.