Shoprite will cease operations in the Bayero Mall in Kano due to the "current business climate" in Nigeria.

The company's closing announcement, dated December 7, 2023, and signed by Mubertus Rick stated that the decision to close the store was made after a thorough assessment of its financial status and the state of the business environment at the time

The shoprite franchise operator in Nigeria, Retail Supermarkets Nigeria Limited (RSNL), has stated that it will close its Ado Bayero Mall store in Kano, Kano State, Northwest Nigeria, on January 14, 2024.

Mubertus Rick, the company's representative, signed a closing announcement dated December 7, 2023, stating that the store's closure was the result of a thorough assessment of its financial status and the state of the business environment.

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The announcement, sent to staff members and titled "Ado Bayero Mall Store Closing Announcement," states: "I regret to inform you that our stores in Ado Bayero Mall, Kano, Kano State will be closing its doors on January 14, 2024." We considered the potential effects this choice may have on our workers and the community before making it.

But after carefully assessing the store's financial status and the state of the business world, we think this is the wisest course of action for our organization's long-term development.

"We understand that this news may be difficult to digest, and we want to assure you that we are here to support you during this transitional period. Your well-being is our top priority, and we will do everything we can to assist you in finding new opportunities within our company.

"We encourage you to apply for any vacant positions in our existing stores across the country through the Human Resources department. Additionally, we will be opening new stores in the coming months, and you are welcome to apply for employment there as well.

"We deeply appreciate your dedication, hard work, and commitment to our company throughout the years. Your contributions have been invaluable, and we are grateful for the value you have brought to our team.

"As we navigate this transition, we will ensure that the process is as seamless as possible for everyone involved. In the upcoming days and weeks, we will provide you with more information regarding severance packages and other important details.

"Once again, we want to express our gratitude for your contributions to our company's success. We hope that you will stay connected with us as we move forward. If you have any questions or require assistance, please don't hesitate to reach out to me, the Chief Operating Officer, or our Head of Human Resources."

On its website, RSNL boasts that it opened its first store in Lagos, Nigeria, in December 2005 and has since grown to 26 locations throughout 14 states. Additionally, the business operates a 4,732-square-meter distribution center in Lagos that enables direct deliveries of fruits and vegetables from nearby farmers to Freshmark-Shoprite's fruit and vegetable procurement and distribution division.

Persianas Investment Limited completed the purchase of RSNL from SHL in May 2021 through an SPV called Ketron Investment Limited. This allowed Persianas Investment Limited to take ownership and management of Shoprite outlets in Nigeria.

Nigerian business Ketron Investment Limited purchased RSNL, the company that owned Shoprite stores across the country, in 2021.

Ketron obtained full control of Shoprite in Nigeria with permission from the Federal Competition and Consumer Protection Commission (FCCPC). The company plans to open more stores to maximize visibility for the large range of products created in Nigeria as well as those from other countries.

Procter & Gamble (P&G), the world's largest personal care and household products company and creator of brands like Pampers and Gillette, among others, recently announced plans to wind down its on-the-ground presence in Nigeria by shifting from local production to sole importation of its products, according to a report published by SaharaReporters.

According to Business Insider Africa, the American corporation emphasized the difficulties of operating as a dollar-denominated organization and explained its strategic choice by pointing to the macroeconomic circumstances in Nigeria.

GlaxoSmithKline (GSK), a major multinational pharmaceutical company, shut down its operations in Nigeria a few months ago. GSK has been a leading pharmaceutical company in the world for 51 years, and it is still based in Nigeria.

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