The Citizen (KZN)

Shoprite pulling out of Kenya


Shoprite said yesterday it expected to close or dispose of its remaining two stores in Kenya in the year ahead.

The supermarke­t chain has been reviewing its longterm options in Africa as currency devaluatio­ns, supply issues and low consumer spending in Angola, Nigeria and Zambia have weighed on earnings.

“Kenya has continued to underperfo­rm relative to our return requiremen­ts,” the retailer said. –

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