Shoprite Nigeria Reaffirms Commitment to Nigeria Market

September 20, 2025 | Press Release

Announces bold business model reset to serve customers better!

Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria, has clarified that Shoprite is not exiting the country but is instead undertaking a comprehensive business model reset to align with Nigeria’s economic realities.

The RSN explained that the former business model that was inherited after the company’s acquisition, relied heavily on large store formats, imports, and high overheads.

But this model, according to the company, is no longer viable in the face of Nigeria’s current economic climate, which included exchange rate volatility, rising inflation, and constrained liquidity.

It, therefore, said that the company is undergoing a turnaround programme that includes a business model reset, which is designed to stabilise operations and reposition the business for long-term growth.

The RSN said that with the support of new investors, Shoprite is building the foundation for a stronger, more resilient business.

This reset, according to the company, is built on several key pillars such as local supply chains that endures that over 80 per cent of products will now be sourced in Nigeria.

Other pillars include smaller but more efficient formats that serve both everyday shoppers and bulk buyers; affordability at the core through private labels and value pricing; smarter liquidity management through supplier guarantees, phased payments, and stock clearance; and efficiency improvements, including energy optimisation and cost-saving measures across its stores.

The Chief Strategy Officer at RSN, Ms. Bunmi Cynthia Adeleye, said: “Yes, it has been a tough period, but this is not a collapse; it is a reset.

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.

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

Adeleye said that Shoprite remained committed to Nigeria and to the millions of customers and suppliers who have stood by the company.

She assured that the company would continue to be part of Nigeria’s retail story, not as an exit, but as a turnaround built on resilience, investment, and partnership.

The RSN also announced that the company has secured fresh investment to strengthen its operations and reposition for sustainable growth.

This new investment underscored confidence in Shoprite Nigeria’s future and provides the capital base to accelerate the company’s strategy of building a truly Nigerian retail model.

“Investor confidence in Shoprite Nigeria is a clear signal of strength in our brand and belief in our future. With fresh backing, we are paying down supplier obligations, rebuilding trust, and creating a more affordable, more resilient retail business. We are coming back stronger to serve Nigerian customers better than ever before,” it said.