ShopRite debunks exit rumour, says we are not leaving 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. We are not leaving, who leaves over a $30billion investment and close shop? It doesn’t sound right.

“We only gave 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 to 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.

Source: Vanguard

Comments

Reject List From Countries In breach Of 30 Percent Women Representation – Njai Tells ECOWAS Parliament

A Gambian representative to the ECOWAS Parliament, Honorable Fatoumatta Njai has challenged the Community Parliament to reject list of countries that are short of thirty percent women’s representation to the Parliament. Speaking in an exclusive interview at the official Opening Ceremony of the Fifth Legislature’s delocalized meeting of the Joint Committee on Social Affairs, Gender and Women Empowerment / Education, Science and Culture/Health, currently holding in Monrovia, Liberia on the theme, “ Empowerment of Women in the ECOWAS Region.” Njai said that some countries lack female representation in the Conference of Bureau, this according to her is disregarding the ECOWAS Rules of Procedure. “The Rules of Procedures mentioned that each member country should have a female representation at the Conference of Bureau. Each country has three members in the Conference of Bureau, so each country can at least have one female member which will be thirty percent representation. I thin...

ECOWAS Parliament pushes for immediate solutions to region's humanitarian crisis Lawmakers of the ECOWAS Parliament says its seeking to invoke its parliamentary powers to resolve the humanitarian crisis across region. This is following the report presentation by the Parliamentary Joint committee on Political Affairs, Peace and Security and APRM/Legal and Judicial Affairs, Human Rights, Protection of the Child and Vulnerable Groups on the security of the Region. As contained in the report, the political situation in the Republic of Guinea as well as the political and security situation in Mali among others, calls for serious attention most especially as it regards to pre and post-election situations, and which also arises from the preparedness level for the presidential elections that are planned in 2020. Honourable Snowe Jnr of Liberia responding to the report said that there is an urgent need for the ECOWAS Parliament to utilize its power ...

Deploy Technology for free and credible elections- Goodluck Jonathan challenge ECOWAS

Ifeanyi Valentine Nigeria’ s Former President, Dr.Goodluck Ebele Jonathan has called on the ECOWAS Sub region to utilize the possibility of technology in our electoral process so as to have free and fair elections. He said this while making his contribution as one of the panelists at the ongoing First Extra Ordinary Session put together by the Fifth Legislature of ECOWAS Parliament holding in Monrovia the capital city of Liberia. According to him the reason why citizens of the sub region often times lost confident in their leaders is because they believe the use the power of incumbency to manipulate the electoral system so as to continue to perpetuate themselves in power even at the detriment of the people. He said that if full technology is deployed in all the stages involved in the electoral process the elections will not only be free and fair but it will completely eliminate the manipulation and rigging of election results.’ “When technology is deployed across board you w...

NIGERIAN NEWS BLOGGERS

Search This Blog