South Africa’s grocery store, ShopRite, is set to leave Nigeria after operating in the country for a period of 15 years.

In a statement on Monday, the company said it has been approached by potential investors willing to take over its Nigerian operations. Bloomberg reports that Shoprite is considering considering an outright sale of its operation in its Nigerian subsidiary.

This process was initiated after the retail chain said in November that it was reviewing its supermarket operations outside South Africa and would consider exiting certain countries if that would help reverse regional sales declines.

This comes just weeks after it was revealed that another popular retail store, Mr. Price Group, is making plans to close its Nigerian business to focus on its home market business in South Africa.

This news has not been well-received by some Nigerians, while some argue that it is good for small business growth at large. Below are some reactions:

Asides the political bottlenecks & chaotic business strains associated with doing business in Nigeria, one other silent contributing factor why Shoprite is closing down, is staff theft. In 2017 alone, a sales girl stole N553M, one month after securing the job. There are many.

— Samuel Otigba: Blvck Apron (@SamuelOtigba) August 3, 2020

Shoprite is pulling out of Nigeria & is launching a formal process to sell their stake

SA listed companies have found it challenging to do business in Nigeria. MTN, Tiger Brands & now Shoprite

Sharp reminder the sheer arrogance of thinking Africa is "all the same" will burn you

— Koshiek Karan (@iamkoshiek) August 3, 2020

The exit of Shoprite from Nigeria should tell you what you need to know about the "size of the Nigerian consumer market" and the economic incompetence of the present administration.

Anyway, Leventis & Kingsway Stores suffered the same fate under a previous Buhari Administration.

— Onye Nkuzi (@cchukudebelu) August 3, 2020

Buhari the grim reaper.

When he started fighting corruption in 1983, Kingsway and Leventis packed up and left.

When he started fighting corruption in 2015, Mr Price, Woolworths, and now Shoprite. Soon enough, Multichoice.

The Middle Class #Nigeria is fantastically corrupt.

— Chxta (@Chxta) August 3, 2020

Shoprite couldn't compete with the new entrepreneurs we supported with Trader Moni.

— Ayobami (@dondekojo) August 3, 2020

Shoprite is officially leaving Nigeria?

Ladies and gentlemen, it's high time we focused on the mini shoprite we all have on our watsapp status. Some of them might start selling Cold stone sef 😂💀

— Unwanted Friend😒🌚 (@holardamolar) August 3, 2020

Mr Price has closed shop and left Nigeria. Apparently Shoprite too is closing its operations and leaving Nigeria after selling its stakes.

Very soon multichoice and MTN might also leave. Buhari is really doing a great job and Nigerians are lucky to have him as President.

— Kelvin Odanz (@MrOdanz) August 3, 2020

Asides the political bottlenecks & chaotic business strains associated with doing business in Nigeria, one other silent contributing factor why Shoprite is closing down, is staff theft. In 2017 alone, a sales girl stole N553M, one month after securing the job. There are many.

— Samuel Otigba: Blvck Apron (@SamuelOtigba) August 3, 2020

Cost of doing business is so high in Nigeria. You provide your own power, your own water etc…

Costs just keeps getting higher and higher.

The unfortunate thing about this Shoprite debacle is the huge loss to staff, contractors and supplier.

An unfortunate domino effect.

— the Morris Monye factor (@Morris_Monye) August 3, 2020

ShopRite leaving is proof you need that Buhari is an economic failure

Nigerians are poorer, FDI is leaving and foreign companies are closing

You don't fight poverty by closing your borders for trade

You will just create a man made inflation & worsen poverty

— William (@_SirWilliam_) August 3, 2020

Shoprite is leaving Nigeria because Nigerians now have less disposable income to spend at their outlets than before. Poverty is creeping on us all while our Supreme Leader idles and his minions demand we "live within our means"

— EDWARD Israel-Ayide (@wildeyeq) August 3, 2020

If Shoprite wants to stay,they can stay;if they want to go,they can go;it will help local supermarkets to grow.

— Senator Shehu Sani (@ShehuSani) August 3, 2020

In South Africa and Nigeria, Shoprite caters to a lower middle class population. This means Nigeria's lower middle class population has reduced so much that even they can no longer cover Shoprite's cost of doing business. Sigh. https://t.co/0O6GqVGfcm

— Ayo Sogunro – #Transformist (@ayosogunro) August 3, 2020

ShopriteSA contributed 78% of sales saw 8.7% rise. When I tried to explain the collapse & hollowing out of a consumer class folks called me unpatriotic. Nigerians always seem to overvalue the Nigeria market. Who cursed us with this Jayant of Hafrica thing https://t.co/kSUZq4Ntw0

— JasonNjoku (@JasonNjoku) August 3, 2020

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