Business
Shoprite Nigeria resets business model, denies exit rumours
Shoprite Nigeria reset business model to stay competitive, debunks exit claims, and announces new local-focused strategy backed by investors
Shoprite Nigeria reset business model plans are now underway, as Retail Supermarkets Nigeria Limited (RSNL) firmly dismissed speculation that it is exiting the country.
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The company, which operates the Shoprite franchise across Nigeria, clarified that recent store closures and empty shelves are part of a strategic business reset, not a shutdown.
In a statement issued on Friday, RSNL explained that it is undergoing a turnaround programme supported by new investors.
This effort, the company said, is designed to respond to Nigeria’s volatile exchange rates, rising inflation, and overall economic pressures, not a withdrawal from the market.
“The old model of operating large-format stores with high import dependency and heavy overheads is no longer sustainable,” said Bunmi Cynthia Adeleye, Chief Strategy Officer at RSNL. “
Yes, it has been a tough period, but this is not a collapse; it is a reset.”
The company revealed that its transformation plan includes a shift to smaller, more efficient store formats, an emphasis on sourcing over 80% of products locally, and increased focus on private-label affordability.
Key features of the reset also include:
- Strengthening local supply chains
- Improving liquidity management
- Cutting costs through energy optimisation
- Making the brand more culturally relevant and accessible to Nigerian consumers
“We are rebuilding Shoprite to be more local, more affordable, and more resilient,” Adeleye added.
“We are coming back bigger and stronger to serve Nigerian customers better than ever before.”
The company reaffirmed its long-term commitment to Nigeria, noting that it will continue to serve millions of customers and suppliers nationwide.
This announcement comes amid public concern over visible signs of distress in some outlets, which included temporary closures and low product availability.
Also read: Billionaire Businessman, Harry Akande, Battles Shoprite
However, the retail giant insists these are short-term adjustments during its transformation journey.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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