Nigeria will get 14 new Shoprite stores and a distribution centre in the next 20 months, chief executive of Shoprite, Whitey Basson, said yesterday.
The supermarket operator is banking on rapid growth in markets such as Nigeria and Angola where it aims to change the shopping habits of Africa’s rising middle class.
The retailer, which also operates the Checkers grocery chain and OK Furniture, reported a 10.8 per cent rise in full-year earnings yesterday, buoyed by sales growth of 13.5 per cent in stores outside its home market.
It plans to add another 35 stores this year to the 189 it has in the rest of Africa, hoping to improve on the 16 percent contribution that Africa ex-South Africa makes to its profits. Last year it opened 20 stores outside South Africa.
Source: ThisDay Newspaper
