Africa’s largest grocer, Shoprite has confirmed how its exiting from Uganda and Madagascar, adding to a list that already includes; Nigeria and Kenya, as the group focuses increasingly on its better performing SA business.
Shoprite has been trading in the rest of Africa since 1990, but has battled currency volatility and struggled in some markets, with the latest announcement concerning 10 stores in Madagascar, and five in Uganda.
The group completed the sale of its Nigeria operation in June without putting a price on it, and closed its last stores in Kenya earlier in 2021. In a trading update on Monday, the group said Uganda and Madagascar are being treated as discontinued operations, meaning they are not expected to feature in future reporting.
With the latest announcement, Shoprite will be left operating in 11 countries in Africa, including SA, where it generates almost 80% of its revenue from continuing operations.
Shoprite had earlier on in 2020 closed down its operations in Kenya after only two years having launched in Nairobi in 2018.
