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.

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However, the retail giant insists these are short-term adjustments during its transformation journey.