Reuters: South Africa’s Shoprite to open less stores in Nigeria than planned – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Reuters: South Africa’s Shoprite to open less stores in Nigeria than planned

Owerri Mall, Imo State. Image source: ifeanyicy.com

Owerri Mall, Imo State. Image source: ifeanyicy.com

South Africa’s Shoprite will open two stores in Nigeria over the next 15 months, down from as many as 13, the retailer’s chief executive said, citing lack of retail space in the west African country.

“Look, at Nigeria with the new legislation there where the clothing retailers had to withdraw, now you don’t have enough tenants for (shopping) centres and therefore not as many centres are being built and now growth slows,” Pieter Engelbrecht told Reuters in an interview.

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