I know that Shoprite is a South Africa retail company operating in Nigeria as well as other African Countries. I also know that they established their business in Nigeria around 2006 in Lekki Palm Malls.
However, I recent ran into an argument where a lot of people argued that Shoprite Nigeria is owned by former Governor of Lagos State, Ahmed Bola Tinubu. It is very possible he has bought into the company’s shares and become a part owner. It is also possible he may own the outright franchise of the retail outfit in Nigeria.
Who knows in detail please educate us. How is the owner of Shoprite in Nigeria?
I think it’s just a subsidiary, but the parent company is owned by South African billionaire Christo Wiese, but before a large retail company launch in any country, a citizen of that country (Nigeria) must have 50% stake in shoprite just like Carrefour in Dubai. Carrefour is owned by a french retail giant but when they try to enter Dubai, they came in through Al Futtaim the biggest mall retail shop owner and he has a 50% stake. They have not publicly told us who has the stake in Nigeria. People are just guessing online…
Thank you for the beautiful answer, and I think your answer has added credence to the assumption that Tinubu may just be a huge stakeholder in Shoprite Nigeria. Let’s look at it this way
Their entrance into the Nigeria market start in Lagos and not in Abuja or Port Harcourt. We know that Lagos is the center of commerce in Nigeria though but Abuja would have been another choice for their second shop in Nigeria. Instead, they started first and second shops in Lagos.
The construction of Lekki Palm Malls and setting up of the first Shoprite in Lagos (Nigeria) happened simultaneously. Could that be a coincidence? I don’t think so. The same with Ikeja City Malls. In fact, Shoprite’s locations in the malls was very strategic to just have happened by chance.
The whole thing happened at the time Tinubu was strategically investing and controlling Lagos State. So, I think it will be safe to assume Shoprite Nigeria is jointly owned by Tinubu?
Shoprite supermarket is own by a South African billionaire named Mr Christo Wiese .
The Shoprite Nigeria Supermarkets are only a subsidiary of the Shoprite Holding Ltd, the South African retail firm.
The journey of Shoprite in Nigeria began in Victoria Island, Lagos. This was the time when the first store of the Shoprite Nigeria Supermarkets was opened in the country.
They do not just own the Shoprite supermarkets but also other brands like OK Foods, OK Grocers, Enjoy and others.
Well, I don’t know, I guess, Tinubu is a Stake Holder, but i sha remember the day Shoprite launched in Ilorin Kwara state, as much as people say, Kwara is dry economically, they made one Million Naira on their first launch day! and since that time, they have been killing the Market seriously!