{"id":873057,"date":"2026-09-01T14:00:00","date_gmt":"2026-09-01T12:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=873057"},"modified":"2026-09-01T13:42:21","modified_gmt":"2026-09-01T11:42:21","slug":"south-africas-largest-retailer-selling-and-closing-stores","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/873057\/south-africas-largest-retailer-selling-and-closing-stores\/","title":{"rendered":"South Africa’s largest retailer selling and closing stores"},"content":{"rendered":"\n
Shoprite, South Africa\u2019s largest retailer, is closing and selling stores across several African markets as it narrows its focus to South Africa and neighbouring countries.<\/p>\n\n\n\n
The group\u2019s latest results for the 52 weeks ended 28 June 2026 show that Shoprite has completed a series of store and property disposals outside South Africa.<\/p>\n\n\n\n
This included exits from Ghana, Malawi, and Nigeria, as well as the sale of most of its furniture operations.<\/p>\n\n\n\n
The strategy is aimed at concentrating capital, management resources, and logistics on markets closer to South Africa while reducing the risks associated with volatile currencies and operating environments.<\/p>\n\n\n\n
Shoprite CEO Pieter Engelbrecht said the group remained focused on disciplined capital allocation and a smaller geographic footprint.<\/p>\n\n\n\n
\u201cWe continue to maintain a disciplined approach to capital allocation as well as portfolio focus, with our scope of operations on the continent now numbering seven countries, all situated relatively close to our South African home base.\u201d<\/p>\n\n\n\n
The retailer highlighted the challenges of operating in countries with volatile currencies, noting that economic conditions beyond its control can significantly impact its businesses.<\/p>\n\n\n\n
\u201cAlthough the Group manages its exposure to foreign currency fluctuations, economic factors outside of the Group\u2019s control have a significant impact on currency devaluations in countries where the Group operates.\u201d<\/p>\n\n\n\n
During the year, Shoprite completed the disposal of its Ghanaian supermarket operations, comprising seven stores and a warehouse.<\/p>\n\n\n\n
The transaction became effective on 25 November 2025, with the purchase consideration amounting to R70 million.<\/p>\n\n\n\n
It also completed the sale of its five-store operation in Malawi. The transaction became effective on 22 February 2026, with Shoprite receiving R39 million for the business the following day.<\/p>\n\n\n\n
The group has also effectively completed its exit from Nigeria as a distinct geographical market. <\/p>\n\n\n\n
Having previously sold its Nigerian retail operations, Shoprite agreed during the second half of the latest reporting period to dispose of its remaining property developments in the country.<\/p>\n\n\n\n
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