Shoprite to shut operations in Democratic Republic of Congo

The decision follows the closure of operations in Nigeria, Kenya, Uganda and Madagascar as the group aims to focus more on its business in South Africa, Shoprite said.
"The decision to close operations in the Democratic Republic of Congo during this period is regrettable but is part of the group's long-term strategy," its statement dated 21 November said.
South Africa's biggest retailer by market capitalisation launched in Congo in 2012 during a period of aggressive expansion push into African's frontier retail markets. Shoprite's three shops in Congo were among its 2,800 stores across 15 countries in Africa.
The company said after the sale of its Nigerian unit last year that it was changing its model from an ownership to a franchise one after a review of its long-term options in Africa.
It said its expansion plans had been hit by currency volatility, double-digit inflation, high import duties and dollar-based rentals.
Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/About Stanis Bujakera
Reporting by Stanis Bujakera; Writing by Nellie Peyton;Editing by Bate Felix and Alexander SmithRelated
Shoprite Group's Petshop Science grows sales by 56.9% 14 Apr 2025 Shoprite's report urges targeted support for female entrepreneurs in SA's SMME sector 31 Mar 2025 Shoprite and Checkers offer purified water at just R1 per litre 4 Mar 2025 Standard Bank and Shoprite partner to ease grocery expenses 27 Feb 2025 2025 Shoprite bursary programme open for applications 3 Feb 2025 Shoprite introduces GetPaid, a self-service payment for small businesses 3 Dec 2024