• Monday, September 23, 2024
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Shoprite reopens Circle Mall Store, after looting incident

No Nigeria, no problem: Shoprite’s profit jumps as core market pays

Shoprite discontinued its 16-year-old operations in Nigeria last June after struggling with supply chain disruptions and repatriation of funds caused by an acute dollar shortage in Africa’s largest economy.

Retail Supermarket Nigeria Limited (RSNL), owners of Shoprite in Nigeria, has announced plans to reopen its Circle Mall Store.

The store which is located in Jakande, Lagos was closed down following the vandalisation that erupted after the EndSARS protests late 2020.

Tayo Amusan, Chairman of RSNL, said the reopening serves as an opportunity to show customers that the dogged Nigerian spirit runs deep, even as the team works to optimize its operations for continued productivity.

“We’re excited to be reopening after a long hiatus. We have had tremendous support and we are looking forward to once again opening our doors to our customers in the Jakande, Lekki area and its environs”, Amusan said in a press statement.

He added that they remain steadfast in their commitment to support the growth of the Nigerian economy even as they explore opportunities to expand their network of outlets thereby providing employment opportunities for Nigerians.

“We are also exploring opportunities to partner with more local farmers and small business owners to optimise agribusiness across Nigeria to considerably increase agricultural yield in the country”, Amusan further said.

At the moment, Shoprite Nigeria’s supply chain includes more than 300 leading Nigerian suppliers, and boasts small businesses and farmers among its partners and suppliers.

Read also: Shoprite: How Nigerians can impact the economy leveraging local investors

The retail giant has also announced plans to open new stores in Kaduna, Port Harcourt, Benin and Jos as part of its expansion plans, increasing the company’s presence to almost 30 stores in the country.

Meanwhile, Shoprite Maryland, in Lagos, will cease operations on January 31, 2022.

“We have made the difficult, but necessary, decision to discontinue business operations from Maryland, for now. We thank the surrounding community for years of patronage and loyalty. Our commitment to Lagos state is unwavering and we look forward to providing area shoppers with enhanced shopping experiences in the future,” Amusan explained.

With the new store openings, Shoprite will be building on its existing store locations across 11 states and the Federal Capital Territory.

The management plans on expanding to other states, creating employment opportunities, partnering with more local businesses and playing a major role in growing the Nigerian economy.