Retail Supermarkets Nigeria Limited (RSNL), the company behind the Shoprite brand in Nigeria, has firmly dismissed rumors of an impending shutdown, affirming its ongoing commitment to the Nigerian market.
In a recent statement, RSNL highlighted that it is undergoing a comprehensive transformation of its business strategy to better adapt to the country’s evolving economic environment.
The previous operational framework characterized by large store formats, significant reliance on imports, and high operational costs has proven unsustainable given current challenges such as currency fluctuations, inflation, and limited liquidity.
To address these challenges, the company has pivoted to a refreshed business model that emphasizes local sourcing, with now 80% of its products procured within Nigeria. This shift aims to create a more resilient supply chain and reduce dependence on imports.
Chief Strategy Officer Bunmi Adeleye described this phase as a crucial rebuilding period, focused on stabilizing operations and positioning Shoprite Nigeria for sustainable growth in the long term.