Court Bars Shoprite From Transferring Assets Over $10m Judgment Debt 1
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Court Bars Shoprite From Transferring Assets Over $10m Judgment Debt

A Lagos Federal High Court has issued an order of Mareva injunction, restraining Shoprite Checkers (Pty) Limited from divesting or transferring its assets out of jurisdiction over a $10 million judgment debt. There have been reports making the round that the South African high street retailer is proposing to exit Nigeria. The injunction, made by

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“We Are Not Leaving” – Shoprite Debunks Brewing Exit Rumour 2
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“We Are Not Leaving” – Shoprite Debunks Brewing Exit Rumour

South Africa owned retail giant, Shoprite has dismissed reports that it is planning to exit Nigeria, describing them as false. The Country Director for Chastex Consult, Ini Archibong who debunked the rumour, said the retail outlets could not leave its $30billion investment in the country and close shops. “Shoprite is not leaving Nigeria. We have

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After 15 years in Nigeria, Shoprite is leaving the country 3
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After 15 years in Nigeria, Shoprite is leaving the country

Africa’s biggest grocery retailer, Shoprite, is exiting the continent’s most populated country, Nigeria, after 15 years. The Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released

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