Africa’s largest food retailer, Shoprite Holdings, has officially sold its Nigerian operations, marking the end of a 16-year presence in the country. The business has been acquired by Ketron Investment Limited, a company owned by a group of local investors led by property firm Persianas Investment.
The acquisition, which covers 25 outlets across eight states, has been approved by Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC). Ketron plans to transition Shoprite’s Nigerian business from an ownership model to a franchise system, while also expanding operations and increasing the presence of locally made products in stores.
Shoprite’s exit makes it the latest South African company to withdraw from Nigeria, citing persistent challenges such as supply-chain disruptions and difficulties in repatriating funds. Other retailers including Mr Price Group, Woolworths, and Truworths International have faced similar hurdles, leading to their departure from the Nigerian market.
Despite leaving Nigeria, Shoprite continues to operate 2,843 supermarkets across 15 countries, serving approximately 35 million customers across Africa and the Indian Ocean islands.
