AfricInvest is pleased to announce it has taken a minority stake in Justrite, a leading Nigerian familyowned retail department store. The company provides everyday essentials, such as groceries, confectionaries, and clothing to consumers in largely underserved neighborhoods. Founded over 22 years ago by Dr & Mrs. Aderinwale and Mrs. Omoboye, Justrite caters to consumers in the Southwestern Region of Nigeria with 17 stores across Lagos (Ikeja), Ogun (Abeokuta), and Osun State (Osogbo), with a combined shop floor exceeding c.20,000m2 and 57,000 Stock Keeping Units (SKUs).
AfricInvest in partnership with Justrite will contribute to building affordable grocery outlets that source local products, support domestic agriculture value chains, and create new jobs while improving the availability of safe, high-quality foods. The new investor has a proven track record of 30 years across markets and aims to help accelerate Justrite’s growth by putting in place enhanced governance…
