Shoprite Mall has announced its intention to cease operation in its Kano branch, Northwest Nigeria from January 14, 2024.

This was contained in a circular signed by the management of the retail supermarket on Thursday and obtained by Nairametrics.

The mall, located in Bayero Kano State, said it would not continue its operations in the state due to the current financial situation of the mall in the state as well as the difficult business climate in the country.

This development is coming on the heels of the current announcement by Jumia Food to cease operation in Nigeria by the end of this month, citing burgeoning economic challenges and the high cost of operation in the country.

What ShopRite is Saying
In the circular, the supermarket noted that the decision is regrettable, however necessary, hinting that all the employees working at the mall will be laid off once it ceases operation in the state.

“I regret that our store in Ado Bayero Mall, Kano, will be closing its doors on January 14 2024. This decision was not made lightly, as we understand the impact it may have on our employees and the community. However, after careful evaluation of the financial situation of the store and the current business climate, we believe that it is the best cause of action for the long-term growth of our organization.

“We understand that this news may be difficult to digest. We want to assure you that we are here to support you during this transitional period, your well-being is our top priority, and we will do everything we can to assist you in finding new opportunities within our company, we encourage you to apply for any vacant position in existing our store across the country through the Human Resources department,” the statement reads in part.
Meanwhile, the store indicated that they will be opening new branches in other parts of the country, adding that their employees in Kano can apply for jobs in those stores.

“Additionally, we will operating new stores in the upcoming months and you are welcome to apply for employment there as well,” the statement outlined.

What you should know
Profitability remains a challenge for many players in the retail industry that operates a chain of supermarkets, discount department stores, and grocery stores in Nigeria.

Given the escalating cost of business operations and mounting inflationary pressure, the business environment continues to force many companies, and small and medium-sized businesses out of the economic space.

Earlier, Jumia announced a complete closure of its food delivery service, Jumia Food, in Nigeria due to a hostile business environment and an inability to optimize profit.

Francis Dufay, CEO of Jumia, noted that the company has decided to divert its capital resources to other ventures within the company, stating,

“Food delivery remains a business with very challenging economics, in Africa and across the world, and we want to focus our efforts on our physical goods e-commerce business, in the eleven markets where we operate. This is a matter of prioritization of opportunities, and expected return on investment,” he said.

https://www.google.com/amp/s/nairametrics.com/2023/12/14/shoprite-to-cease-operation-in-kano-from-january-2024/%3famp=1

Tooor


E go favour u and your family

I will personally vote tinubu next election. Sebi u na no wan get sense

The most annoying part is that a lot of people who can barely feed themselves are the ones shouting jagaban up and down.

One called me recently and saying that Baba really disappointed them. That he doesn't know e be baba buruku. I was like I tried to convince u during election but una dey abuse me

Anyway make una dey enjoy una renewed shege.

Alright then

Beer 🍻 fa

Ah. Money no dey kano again? We hear am too bad since APC come in. Inflation and loss in value of naira, killing power to purchase. Shoprite asaba don close since 2 hears now

Okay oooo

Aboki no dey shop right

Blame Rashduct4luv

Duly noted.

K

This is not unconnected to Hisbah police policy on alcohol.

Sales of alcohol have a very wide margin. Destroying of cash cow will lead to liquidation or disinvestment.

Sai kasuwa kenan

Na small small closure till e reach the whole country. 9ja don cast

Hmm I wonder what excuse they are going to use to justify this one.

Maybe one Madam Sadiku who owns a kiosk is competing better than a whole Shoprite.

Lord God please have mercy on us, in Jesus Name!

E don happen

Hmm

Maybe those Islamic terrorists called hisbah had threatened shoprite secretly

Nigeria Economy is just getting worst by the day… It shouldn’t be a matter of trial and error.

How many companies will have to close down in Nigeria before the people in the helm of affairs realised that their Economy Policies are not favourable to alot of organizations.

why will they do that abi the renewed hope no reach that side

What is going on ..mallams don't take their gf and wives for shopping ..🤔

Generally things are extremely tough nationwide and it's time politicians regulate their lugubrious earnings.
It's mad for senators to be using N160m cars when the economy is not fine. What about other earnings?
In fact, it's time all Nigerians ask how much politicians dey collect from president to councillors. All kobo & naira is needed to be accounted.

Shoprite business model is not sustainable in Kano. They should have studied the Sahad stores template.

This is about Kano and not the entire country, since they'll be opening new stores at the same time in other locations.

...and Jumia shut her delivery service in Kenya and other Africa countries same period as the model isn't sustainable.

Melagros:
Maybe those Islamic terrorists called hisbah had threatened shoprite secretly

They also threatened jumia food. Always thinking backwardly

Theunbothered:
Hmm I wonder what excuse they are going to use to justify this one.

Maybe one Madam Sadiku who owns a kiosk is competing better than a whole Shoprite.

It's obviously low demand. Plus possibly inability to sell alcohol

Hmm, that's serious.

The illiterate that was asking the audience if they would eat statistics can, at least, see the importance of statistics in economic planning.

His mind blowing foolishness is the reason companies are shutting down in a bid to cut costs or disappear entirely from the Nigerian economic space.

With too many jobless Nigerians roaming the streets, that is one hell of a recipe for unprecedented disaster.