By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Lifestyle UgandaLifestyle Uganda
  • Home
  • News
    • International News & Politics
    • Education
    • Sports
    • Money & Finance
    • Mobile and Telecommunication
    News
    Lifestyle Uganda brings you the latest news and information on Africa, Wizkid, Azawi, and Eddy Kenzo right from the heart of the industry.
    Show More
    Top News
    Lycamobile Uganda data bundles and voice (1)
    Lycamobile Uganda: 4 Most Frequently Asked Questions & Answers
    5th November 2021
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    19th September 2020
    Maro, Maurice Kirya Help German singer Mark Forster Cross Over With “Chip In”
    17th November 2018
    Latest News
    Ugandan-born Australian Doctor Aggrey Kiyingi Dies at 68
    30th September 2023
    Former Brazilian Minister of Sports Pele Died at the Age of 82
    30th December 2022
    37 Visa Exempt Countries to Uganda: A Complete List
    7th December 2022
    Who is Patrick Oboi Amuriat: Biography, Early Life, Family, Education, Career and Controversies
    28th November 2022
  • Business
  • Entertainment
    • Music
    • Celebrity
    • Biography
    • Lifestyle
      • Fitness
      • Pop Culture
      • Recipes
      • Travel/Culture
    Entertainment
    With Lifestyle Uganda Entertainment you will be able to get the latest news from Uganda, Nigeria, Kenya, South Africa entertainment, celebrity gossip, films, TV shows,…
    Show More
    Top News
    Lycamobile Uganda data bundles and voice (1)
    Lycamobile Uganda: 4 Most Frequently Asked Questions & Answers
    5th November 2021
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    19th September 2020
    The Short-Story of How Pia Pounds Got Famous Will Make You Love Her Even More
    21st September 2023
    Latest News
    Matatu Film Stage Returns to Celebrate Local Filmmakers and Their Artistic Passion Projects
    1st October 2023
    Spotify Unveils Jam: A New Social Music Experience for Friends, Bridging Distance with Sound
    29th September 2023
    MC Kapale Pops the Question: Engages Mzungu Lover in Heartwarming Proposal
    29th September 2023
    Ugandan Singer and Actress Evelyn Lagu Succumbs to Kidney Complications
    18th September 2023
  • Fashion
    • Beauty Trends
    • Accessories
    • Hair
    • Lipstick
    • Makeup
    • Skincare
    FashionShow More
    lifestyleuganda.com__Fenty Beauty appoints Nikita Kering as brand ambassador (1)
    Rihanna’s Fenty Beauty Appoints Nikita Kering As Brand Ambassador
    1st June 2022
    nowthendigital.com__Balenciaga to accept cryptocurrency payments (1)
    Fashion Label Balenciaga to Accept Cryptocurrency Payments in the U.S.
    28th May 2022
    Nicki Minaj at met gala 2022 (1)
    See Nicki Minaj, Hillary Clinton, Elon Musk, Alicia Keys and More at the 2022 Met Gala
    3rd May 2022
    lifestyleuganda.com-Judith Heard wins Miss Environment Africa International
    Judith Heard wins Miss Environment Africa International in India
    4th April 2022
    lifestyleuganda.com__judith heard india miss environment contest (1)
    Miss Environment International 2022: Judith Heard arrives in India
    22nd March 2022
  • Health & Living
  • Tips & Advice
Search
© 2023 Lifestyle Uganda. All Rights Reserved.
Reading: South Africa’s Shoprite Is Pulling out of Uganda and Madagascar
Share
Sign In
Notification Show More
Latest News
uganda films
Matatu Film Stage Returns to Celebrate Local Filmmakers and Their Artistic Passion Projects
Entertainment
aggrey
Ugandan-born Australian Doctor Aggrey Kiyingi Dies at 68
News
playlist
Spotify Unveils Jam: A New Social Music Experience for Friends, Bridging Distance with Sound
Entertainment
Kapale
MC Kapale Pops the Question: Engages Mzungu Lover in Heartwarming Proposal
Entertainment
evelyn lagu now
Ugandan Singer and Actress Evelyn Lagu Succumbs to Kidney Complications
Entertainment
Aa
Lifestyle UgandaLifestyle Uganda
Aa
  • Home
  • News
  • Business
  • Entertainment
  • Health & Living
Search
  • Home
  • News
    • International News & Politics
    • Education
    • Sports
    • Money & Finance
    • Mobile and Telecommunication
  • Business
  • Entertainment
    • Music
    • Celebrity
    • Biography
    • Lifestyle
  • Fashion
    • Beauty Trends
    • Accessories
    • Hair
    • Lipstick
    • Makeup
    • Skincare
  • Health & Living
  • Tips & Advice
Have an existing account? Sign In
Follow US
© 2023 Lifestyle Uganda. A Now & Entertainment Media Company. All Rights Reserved.
Lifestyle Uganda > Blog > Business > South Africa’s Shoprite Is Pulling out of Uganda and Madagascar
BusinessNewsShopping and Retail

South Africa’s Shoprite Is Pulling out of Uganda and Madagascar

On Monday, South Africa's largest grocery retailer Shoprite Holdings SHPJ.J announced its withdrawal from Uganda and Madagascar, making this its third African exit this year.

Sponsored by Chipper CashChipper Cash
Share
4 Min Read
lifestyleug.com__Shoprite plans to exit Uganda and Madagascar
South Africa's Shoprite has announced it is leaving the Uganda market after 21 years in the country. FILE PHOTO
SHARE
Sponsored by Chipper CashChipper Cash

As the group focuses increasingly on its better-performing South Africa business, Shoprite, the largest grocery retailer in Africa, has announced it will pull out of Uganda and Madagascar.

lifestyleug.com__Shoprite plans to exit Uganda and Madagascar
South Africa’s Shoprite has announced it is leaving the Uganda market after 21 years in the country. FILE PHOTO

African retail giant Shoprite has said that it will exit Uganda and Madagascar, adding to its current list of exits that include Nigeria and Kenya, as it focuses on a more successful business in South Africa.

This is due to the instability of the African market, as well as the fact that the company has not been able to make a profit in the countries it has already exited. Furthermore, the company is looking to streamline its operations and focus on more lucrative markets.

The retailer has been operating in the rest of Africa since 1990, but has struggled with currency volatility and has lost market share in some markets. The most recent announcement concerned 10 stores in Madagascar and five stores in Uganda.

According to Reuters, Shoprite has been assessing its long-term options across Africa over the past year due to currency devaluations, commodity price declines and high inflation hitting household incomes and weighing on earnings.

- Advertisement -

Shoprite announced on Monday, 23 August 2021, that operations in Madagascar and Uganda have been classified as discontinued under the non-RSA review.

The discontinuation of the operations is part of the group’s strategy to focus on markets with a long-term growth potential and to create efficiencies through economies of scale. The restructuring of operations in these two countries is expected to result in cost savings and improved profitability.

“In accordance with the group’s non-RSA review process, Shoprite has classified our operations in Madagascar and Uganda as discontinued,” the retailer announced on Monday, 23 August 2021.

Additionally, the retailer forecast a 25.3% growth in basic earnings per share from continuing operations.

Over the last three years, Shoprite has performed abysmally, and it has already closed operations in Kenya and Nigeria. The company is owned by South African investors. In Uganda, it operates five stores.

- Advertisement -

As reported in the 2020 results, the company’s losses accumulated in 2020 reached UGX43.5 billion, an increase from UGX24.5 billion in 2017.

Therefore, in 2018 and 2019, the company made losses totalling about UGX19 billion.

More Read

aggrey
Ugandan-born Australian Doctor Aggrey Kiyingi Dies at 68
Liquid Intelligent Technologies and Nokia Partner to Drive Africa’s Innovation
Former Brazilian Minister of Sports Pele Died at the Age of 82
MTN MoMo Now Offers Self-Initiated Reversal for Mobile Customers
37 Visa Exempt Countries to Uganda: A Complete List

Carrefour, a store chain owned by UAE-based Majid Al Futtaim, was recently reported to be in negotiations to acquire Shoprite’s stake in Uganda.

- Advertisement -

The two retailers are currently in the deal’s final stages, and an announcement will be forthcoming shortly.

Sources say they are finalizing practical details and perhaps filing regulatory documents before officially announcing the deal.

“They are finalizing the practical details and likely to file regulatory paperwork before formally announcing the deal,” sources say.

This acquisition would reinforce Carrefour’s aim of securing market share in Uganda.

Currently, Carrefour operates 130 hypermarkets, supermarkets, and online stores in 15 countries across the Middle East, Central Asia, Africa, and Russia, with plans to expand into 38 countries.

The retailer opened its first store in Uganda in 2019.

You Might Also Like

Ugandan-born Australian Doctor Aggrey Kiyingi Dies at 68

Liquid Intelligent Technologies and Nokia Partner to Drive Africa’s Innovation

Former Brazilian Minister of Sports Pele Died at the Age of 82

MTN MoMo Now Offers Self-Initiated Reversal for Mobile Customers

37 Visa Exempt Countries to Uganda: A Complete List

TAGGED: madagascar shoprite leaving uganda, pulling uganda madagascar shoprite, shoprite leaving madagascar, shoprite leaving uganda, shoprite leaving uganda madagascar, shoprite pulling uganda madagascar, shoprite uganda, shoprite uganda madagascar, uganda madagascar shoprite leaving

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Lifestyle Uganda 24th August 2021
Share this Article
Facebook Twitter Whatsapp Whatsapp Reddit Copy Link
Share
By Lifestyle Uganda
Follow:
Art & Lifestyle web-blog with an African-America spice. Lifestyle Uganda was founded, by a team of 3 social media gurus. Let's talk WhatsApp +256781873083.
Previous Article lifestyleug.com__kylie jenner reportedly expecting second child travis scott ‘kylie Jenner’ Is Reportedly Expecting Her Second Child with Rapper Travis Scott
Next Article lifestyleug.com__Airtel Uganda revises its double data bundle offers (1) Airtel Uganda Is Now Offering Double Data Bundles for Its Smartphone Users

Stay Connected

45.2k Followers Like
5.1k Followers Follow
213 Followers Pin
35.6k Followers Follow
11k Subscribers Subscribe
400 Followers Follow
- Advertisement -

Latest News

uganda films
Matatu Film Stage Returns to Celebrate Local Filmmakers and Their Artistic Passion Projects
Entertainment 1st October 2023
aggrey
Ugandan-born Australian Doctor Aggrey Kiyingi Dies at 68
News 30th September 2023
playlist
Spotify Unveils Jam: A New Social Music Experience for Friends, Bridging Distance with Sound
Entertainment 29th September 2023
Kapale
MC Kapale Pops the Question: Engages Mzungu Lover in Heartwarming Proposal
Entertainment 29th September 2023

Follow Us

//

At Lifestyle Uganda, we inform, entertain, and inspire action through the content we create — empowering you to live a celebrity life.

Quick Link

  • Home
  • News
  • Business
  • Entertainment
  • Health & Living

Top Categories

  • About Us
  • Send a Tip
  • Terms of Use
  • Privacy Policy
  • Contact

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Lifestyle UgandaLifestyle Uganda
Follow US

© 2023 Lifestyle Uganda. A Now & Entertainment Media Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?