Lagos - Shoprite, Africa’s biggest grocery store, unveiled ambitious plans to build 44 outlets in the next "three to four" years in Nigeria.
Shoprite Group Chief Executive, Whitey Basson, revealed the expansion plans while presenting the company’s half-year results ending June 30.
The retail company's report according showed that Shoprite outlets outside of South Africa, where it is headquartered, recorded higher sales figures compared to outlets in that country.
Basson said the company's foreign outlets registered a 28 percent jump in sales in the 12 months to the end of June 2013, nearly three times the rate of growth in its home market during the same period.
During the period, South African retail sales grew by less than 2 percent, lower than expected, according to statistics.
Basson said the company hoped to capitalise on its outside successes by building additional outlets in Nigeria where it currently operates six outlets.
"The bulk of the new stores would be in oil-rich Nigeria and Angola. The company sees scope for 44 new outlets in Nigeria and 21 in Angola in the next three to four years," he said.
Shoprite currently has 153 supermarkets in 16 countries outside South Africa.
- CAJ News