The buzz in the Nigerian retail market today is no longer the curious mix of Shoprite exiting the market when a Burger King is making a bold entry. The good news, instead, is that Africa’s largest retail chain has been acquired by a local investor.
Speculations were laid to rest last week following a media report which disclosed that Persianas Group, a local property development company, were the new owners of Shoprite.
The Persianas are the owners of The Palms Mall, the first formal retail outlet in Lagos, which has branched out to other Nigerian cities including Enugu, Kwara and…
