Mixed Reactions Trail Shoprite’s Plan To Exit Nigerian Market
Mixed reactions have trailed Shoprite’s plan to exit Nigeria, the continent’s biggest market, after 15 years of opening its first store in the country.
The biggest grocery retailer in Africa in a statement announced that it has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria.
The megastore company with presence in virtually all states in Nigeria hinged this decision on the coronavirus pandemic which has disrupted major businesses globally.
It stated that it has been approached by potential investors willing to take over its Nigerian operations.
The announcement has since sparked reactions from many Nigerians who took to Twitter to air their varying opinions.
See some reactions below;
Mr Price has closed shop and left Nigeria. Apparently Shoprite too is closing its operations and leaving Nigeria after selling its stakes.
Very soon multichoice and MTN might also leave. Buhari is really doing a great job and Nigerians are lucky to have him as President.
— Kelvin Odanz (@MrOdanz) August 3, 2020
when etisalat left and 9mobile took over.
Shoprite can leave, ebeano will take over.
It doesn’t really affect anything, the staffs can be retained.
— Mr Alan (@Alan_yournextbf) August 3, 2020
Finally,the Buhari inefficiency has fingered Shoprite;like everything else. The silence from the 30k a month crew is cos they are right now in their WhatsApp group waiting for talking-points on how to spin this one.Let me give them a key:blame it on Covid. The GEJ angu is stale.
— Mazi Gburugburu (@Mazigburugburu1) August 3, 2020
If Shoprite wants to stay,they can stay;if they want to go,they can go;it will help local supermarkets to grow.
— Senator Shehu Sani (@ShehuSani) August 3, 2020
Asides the political bottlenecks & chaotic business strains associated with doing business in Nigeria, one other silent contributing factor why Shoprite is closing down, is staff theft. In 2017 alone, a sales girl stole N553M, one month after securing the job. There are many.
— Samuel Otigba: Blvck Apron (@SamuelOtigba) August 3, 2020
Just like Mr Price, Nigerians weren’t patronising Shoprite. What 75% of Nigeria customers that visit there do is to “take pictures and do window shopping”. At least SPAR will enjoy that attention now😊
— Danky🐦 (@iAmDanky) August 3, 2020
ShopRite leaving is proof you need that Buhari is an economic failure
Nigerians are poorer, FDI is leaving and foreign companies are closing
You don’t fight poverty by closing your borders for trade
You will just create a man made inflation & worsen poverty
— William (@_SirWilliam_) August 3, 2020
Before and After shoprite leaves Nigeria. pic.twitter.com/q93coqfWF8
— Duke of Ibadan🀄 in Canada 🇳🇬 🇨🇦 (@Mc_Phils) August 3, 2020
Here is Nigeria in the past 2 Months:
– ShopRite leaving Nigeria.
– Nipost wants to handle deliveries.
– Government demanding N25,000 per head for secondary schools before opening.
Do you still pledge to Nigeria?
— Somto. 🅰️🈵 (@SomtoSocial) August 3, 2020
To think the exit of ShopRite from Nigeria will help our economy is delusional.
About 2000 Nigerians about to lose their jobs. They can venture into MSMEs abi?
The MSMEs that we have used NIPOST tariffs, stamp duty, other repressive charges to kill?
— Alfred Olufemi 🛡️ (@iam_alfred1) August 3, 2020
Opportunity for Nigerians to come in
— Lagos LandLord™ And 36 Tenants #BBNaija🇳🇬🇬🇭 (@chiefagbabiaka) August 3, 2020
The success and growth of similar stores to Ebeano must have played a big role in this Shoprite leaving business. I don’t their bigbox and mall location model fits the evolved retail customer behavior in Nigeria.
— Dee! (@obadayo) August 3, 2020
Shoprite is pulling out of Nigeria & is launching a formal process to sell their stake
SA listed companies have found it challenging to do business in Nigeria. MTN, Tiger Brands & now Shoprite
Sharp reminder the sheer arrogance of thinking Africa is “all the same” will burn you
— Koshiek Karan (@iamkoshiek) August 3, 2020
The Board of Africa’s biggest retailer, Shoprite, has announced plans to discontinue operations in Nigeria after 15 years in. While this may open up opportunities for local investors in that sector, it is a bad pointer to what Nigeria has become as an investment destination. pic.twitter.com/GYTTIrHrmM
— Ayò Bánkólé (@AyoBankole) August 3, 2020
So shoprite is leaving Nigeria,thousands of people will be without jobs now,other thousands depending on those people’s incomes,my new neighbor works with shoprite in Ibadan&he has 3kids,his wife is a private school teacher and haven’t worked in a while,so many people like that🤦♂️
— Oyindamola🧔 (@dammiedammie35) August 3, 2020
The exit of Shoprite from Nigeria should tell you what you need to know about the “size of the Nigerian consumer market” and the economic incompetence of the present administration.
Anyway, Leventis & Kingsway Stores suffered the same fate under a previous Buhari Administration.
— Onye Nkuzi (@cchukudebelu) August 3, 2020
But seriously, what is happening in 9ja? konga I think was recently put on the market for sale and jumia is really struggling. This means e-commerce is not “really productive” in Nigeria.
Also, our major supermarkets are closing up!
— 道 (@a_taoriox) August 3, 2020
This would cost alot lost on the Nigeria economy and larger increase adding up to the unemployment rate cos about 89% of the shoprite staffs are Nigerians plus causing very bad impression on the nation. Remember lots of investors have backup out already from investing in Nigeria.
— Uchendu Chinaza (@UchenduChinaza6) August 3, 2020
I’m not surprised, alot of retail outlets have closed every year in the US and UK too. Shoprite may just be exiting due to low patronage caused by decrease in purchasing power of the people or stiff competition.
— FIRSTMAN (@Cuteamigo1) August 3, 2020
So Shoprite is pulling out of Nigeria after years….Lol
I will be waiting for one Ayourb or Ajuri to lecture me on how this won’t affect Nigeria economy, and how Buhari war against corruption led to it. They might come up with “corruption is going in shoprite”. Predictable.
— Premier (@SodiqTade) August 3, 2020