Shoprite Holdings, South Africa’s largest grocery chain, is retreating further from its pan-African ambitions with the planned sale of operations in Ghana and Malawi, another step in its broader strategic consolidation to prioritise its home market.
Once hailed as the continent’s top food retailer, outpacing rivals such as Pick n Pay and Walmart-owned Massmart across 15 African countries, Shoprite’s expansion drive has increasingly stumbled on macroeconomic headwinds.
Its operations in markets like Angola and Nigeria have been battered by currency volatility, soaring inflation, onerous import duties, and leases priced in dollars.
The group recently said it had signed a deal on June 6 to sell five stores in Malawi, subject to regulatory approval by the Competition and Fair Trading Commission and the Reserve Bank of Malawi.
In Ghana, it received a binding offer in June for seven stores and a warehouse, a transaction it considers “highly probable.”
The exits mark a continuation of Shoprite’s retreat from several African markets, including Nigeria, Kenya, the Democratic Republic of Congo, Uganda, and Madagascar.
