Shoprite Nigeria has debunked exit rumours, confirming a strategic business reset backed by new investors to align with the country’s economic realities

Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite brand in Nigeria, has dismissed recent speculations surrounding its alleged exit from the country.

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Instead, the company has announced a strategic business reset aimed at strengthening operations and adapting to Nigeria’s current economic climate.

In a statement released by Bunmi Cynthia Adeleye, Chief Strategy Officer at RSNL, the company emphasised that it is not exiting Nigeria, but undergoing a turnaround programme backed by new investors to ensure long-term sustainability.

“Yes, it has been a tough period, but this is not a collapse; it is a reset,” Adeleye said.
“The old model did not work for Nigeria. With new investors behind us, we are rebuilding Shoprite to be more local, culturally relevant, more affordable, and more resilient.”

RSNL noted that the legacy business model it inherited following Shoprite’s acquisition was unsustainable under current economic conditions, which include:

• Exchange rate volatility
• Rising inflation
• Liquidity constraints
• High operational overheads
• Heavy reliance on imports and large store formats

The company is now implementing a comprehensive reset, anchored on the following pillars:

1. Local sourcing: Over 80% of products are now sourced within Nigeria
2. Smaller, efficient store formats: Tailored for both everyday and bulk shoppers
3. Affordability: Focus on private label brands and value pricing
4. Liquidity management: Introduction of supplier guarantees, phased payments, and stock clearance systems
5. Operational efficiency: Optimised energy use and cost-saving measures across outlets

Despite the closure of some branches and reports of empty shelves, RSNL insists these are temporary disruptions as the company adjusts to the new operating model.

“We are coming back bigger and stronger to serve Nigerian customers better than ever before,” Adeleye reaffirmed.

This announcement comes amid rising concerns from customers and stakeholders over the recent closure of Shoprite’s Abuja branch, alongside enforcement actions in states like Enugu over alleged tax issues.

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However, the company insists these developments are isolated and unrelated to the broader strategy.