Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria, has dismissed rumours of an exit, assuring customers that it remains firmly committed to doing business in the country.
In a statement on Thursday, the company — now backed by new investors — said it is undergoing a strategic “business model reset” aimed at adapting to Nigeria’s challenging economic climate.
“The former business model, inherited after the company’s acquisition, heavily relied on large store formats, imports, and high overheads. This model is no longer viable in the face of Nigeria’s current economic realities, which include exchange rate volatility, rising inflation, and constrained liquidity,” the company explained.
As part of its new direction, Shoprite revealed that over 80% of its products are now sourced locally, reducing reliance on imports and strengthening ties with Nigerian suppliers.
Chief Strategy Officer, Bunmi Adeleye, described the transition as a “rebuilding phase,” noting that the company’s outlook is firmly focused on becoming more local and sustainable.
“This reset is built on several key pillars: local supply chains, with over 80% of products now sourced in Nigeria,” Adeleye said, adding that the strategy will stabilise operations and reposition Shoprite for long-term growth.
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