Shoprite is set to invest $205 million on real-estate in Nigeria to take their store presence to 13. Their ambition to grow in the nation is currently hampered by the lack of infrastructure in key states such as Port Harcourt, so their solution? Develop it ourselves.
A business model that Tesco supermarkets has used successfully to conquer the UK is to develop an under-developed area with its store as one of the main attractions. The expansion of Shoprite and plans for infrastructure development can only be seen as an exciting advancement and positive advertisement that Nigeria is an attractive investment. Shoprite, already committed to sourcing local produce, giving back to local communities and supporting foundations, will now also further provide employment opportunities if they succeed in their investment plans. Definitely an expansion to keep an eye on....
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