SHOPRITE pushes pan-African expansion; big plans for Nigeria

September 5, 2008 |

Planet Retail 5 Sep 2008

South African market leader Shoprite has announced that it will push ahead with its African expansion scheme, with CEO Whitey Basson saying that the retailer was planning to spend ZAR400 million (USD50.3 million) on expansion across the continent. Basson said the company was likely to open 50 new stores in Nigeria by 2013 to tap on the increased spending power there.

He also said that Shoprite might consider setting up a separate property investment company to build and manage its retail sites in Nigeria and other African nations. He explained that South African property developers lacked the appetite to invest in African retail sites as wanted by Shoprite, adding that the company has identified 16 sites in Nigeria and will make a final decision about its African expansion strategy by October 2008. Other countries scheduled for expansion are the Democratic Republic of Congo, which might see its first Shoprite-owned store launched before the end of 2009. The opening of additional stores in Ghana and Angola is also part of the expansion plans.

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