Shoprite Holdings, Africa’s largest retailer is selling its operations in Ghana and Malawi, as it consolidates activities across Africa to focus more on its home market, South Africa.
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The sell reported by Reuters on Tuesday when completed, will add to Shoprite’s earlier exits from Kenya, the Democratic Republic of Congo, Uganda and Madagascar.
Shoprite Holdings had expanded extensively in Africa to become the continent’s leading food retailer. According to information on its website, it operates a total of 2,794 stores, and 623 franchise outlets. 2,502 of its stores are in South Africa, while it operates 7 stores in Ghana, and 5 in Malawi.
According to the Reuters report, Shoprite in Malawi signed an agreement n June 6 to sell five stores, subject to approval of the Competition and Fair-Trading Commission and the Reserve Bank of Malawi. Shoprite opened its first store in Lilongwe Malawi in 2000.
“In Ghana, the group received a binding offer in June for seven trading stores and one warehouse. The sale is deemed highly probable,” the report said. Shoprite opened its first store in Accra Ghana in 2007.
Shoprite Holdings is headquartered in Cape Town, Cnr William Dabbs Street and Old Paarl Road, PO Box 215, South Africa.
Since opening its first stores in 1979, Shoprite Holdings grew from it first store locations in Western Cape South Africa, to become the biggest retailer in Africa.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
