Economy News

Shoprite Now A Full-Fledged Nigerian Company

Shoprite Now A Full-Fledged Nigerian Company
  • PublishedJune 2, 2021

Ketron Investment Limited, a Nigerian company has formally acquired Retail Supermarkets Nigeria Limited (RSNL). RSNL are the owners of the popular Shoprite Stores.

According to a statement issued on Tuesday, Ketron is said to be owned by a group of investors led by Persianas Investment Limited.

The process for Shoprite acquisition in Nigeria started last year when the South African retail giant announced it was divesting its retail outlet in the country.

The statement further said the change in ownership has also received the approval of the Nigerian regulator, the Federal Competition and Consumer Protection Commission (FCCPC).

While reacting, Chairman of Ketron, Tayo Amusan said, “We are thrilled to complete the acquisition of Shoprite, ensuring the continued operations of one of the biggest retail success stories in Nigeria.”

Shoprite Holdings is Africa’s largest food retailer, operating 2,843 supermarkets in 15 countries and serving 35 million customers in Africa and the Indian Ocean Islands; its supply chain includes over 300 local suppliers comprising small businesses and farmers.

The chairman also added that “We look forward to building an even stronger company following our acquisition and are excited about the greater impact we will achieve to the benefit of our customers and other stakeholders now and well into the future”.

Following the launch of Shoprite in Lagos in December 2005, the stores now have 25 outlets across 11 states and Abuja, FCT.

Ketron acquired 100% ownership of Shoprite in Nigeria and will continue operations across all existing outlets, with plans to open additional stores and introduce more Nigerian-made products, the statement said.

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