BREAKING: Shoprite Closes Ado Bayero Mall Store in Kano, Nigeria

Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria, has officially shuttered its Ado Bayero Mall Store located in Kano, Kano State, Northwest Nigeria.

The closure, announced by Shoprite, took effect on January 14, 2024, as confirmed by a video shared by Imran Muhammad on his social media platform. The footage depicted desolate shelves within the Kano Mall, with a voice in the video expressing lament over the limited availability of products, emphasizing that only drinks remained at the Shoprite store during the recording.

The acquisition of RSNL by Ketron Investment Limited, executed through a Special Purpose Vehicle (SPV), was completed, making Ketron the new owner and operator of Shoprite stores in Nigeria. The transition, approved by the Federal Competition and Consumer Protection Commission (FCCPC), saw Ketron acquiring 100% ownership of Shoprite in Nigeria, with plans to expand and enhance visibility for both Nigerian-made and international products.

In a related context, global conglomerates are reevaluating their presence in Nigeria. Procter & Gamble (P&G), a leading global company in personal care and household products, has announced a shift from local production to exclusive product imports as it gradually withdraws from on-ground operations in Nigeria. Similarly, GlaxoSmithKline (GSK), a major pharmaceutical giant with 51 years of operation in Nigeria, recently concluded its operations in the country.

This closure has sparked concerns among Nigerians, with some expressing dismay at the impact on employment. Critics argue that the closure of Shoprite has added to the challenges faced by the labor market during a period of economic hardship in the country.

Twitter user @Nwafresh commented, “At least they kept to their words, thereby making people unemployed this hard January. God is watching.”

The closure of Shoprite’s Ado Bayero Mall Store marks a significant chapter in the evolving economic landscape of Nigeria, raising questions about the future of retail and foreign investments in the country.

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