South African retail giant Shoprite Holdings has announced plans to exit the Ghanaian market after over two decades of operations, having first entered the country in 2003.

According to the company, the decision is part of a broader strategy to withdraw from several African countries and refocus on its core domestic operations.

In a statement issued on August 5, 2025, as part of its trading update for the 52-week period ending June 29, 2025, Shoprite disclosed that it had received a binding offer in June for the acquisition of its Ghanaian assets, which include seven trading stores and one warehouse.

The company indicated that the sale is now "highly probable" and that its Ghana operations have been officially classified as discontinued.

“The Group received a binding offer during June 2025 to dispose of the assets and liabilities in relation to the operations in Ghana, which consists of seven trading stores and one warehouse. The sale is deemed highly probable,” the statement read.

Shoprite’s planned exit is the latest in a string of withdrawals from African markets considered non-core to its long-term strategy.

In recent years, the company has exited Nigeria, Kenya, Uganda, the Democratic Republic of Congo, and Madagascar, citing economic headwinds and operational challenges.

The same trading update revealed that on June 6, 2025, Shoprite signed an agreement to sell five trading stores in Malawi, pending regulatory approval from Malawi’s Competition and Fair Trading Commission and the Reserve Bank of Malawi.

The company’s gradual retreat represents a broader shift in its pan-African strategy. Despite being a leading supermarket chain with a presence in approximately 15 countries, Shoprite has, in recent years, struggled with persistent economic challenges, including currency volatility, high import duties, inflation, and dollar-denominated rents.

Although the identity of the potential buyer has not been disclosed, the acceptance of a binding offer points to an imminent handover, subject to regulatory approvals in Ghana.

Meanwhile, as of Tuesday morning on August 5, 2025, Shoprite’s shares had fallen by 2.6% on the Johannesburg Stock Exchange following the announcement.

MA

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