Shoprite Nigeria has made the difficult decision to close its branch at Novare Central Mall, Wuse Zone 5, Abuja effective June 30th, 2024. This closure comes after a thorough analysis of the store’s financial performance and the current Nigerian business climate.
While the circular above is released, the economic climate is a significant factor in Shoprite’s decision. Nigeria has faced currency fluctuations and inflationary pressures recently, which could be impacting sales and profitability for the supermarket chain.
This closure reflects the wider challenges facing retail businesses in Nigeria. Here a few screenshots from verified sources about this too:
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