Shoprite Holdings, Africa’s largest grocery retailer, has announced plans to exit Ghana and Malawi, signaling a continued shift in its strategy to consolidate operations and focus more on its home market in South Africa.
The company, which once had a presence in over 15 African countries, revealed on Tuesday that it has signed agreements to dispose of its assets in both countries:
In Malawi, Shoprite signed an agreement on June 6 to sell five trading stores, pending regulatory approvals from the Competition and Fair Trading Commission and the Reserve Bank of Malawi. In Ghana, a binding offer was received in June for the sale of seven stores and one warehouse, with the sale deemed “highly probable.”
Shoprite’s retreat follows challenges in several African markets, including currency volatility, high import duties, double-digit inflation, and dollar-based rentals, which have impacted profitability. Previous exits include markets such as Angola and Nigeria.
The move reflects Shoprite’s broader strategy to consolidate and strengthen its operations within South Africa, where it continues to dominate the retail landscape.
