Tuesday, August 21, 2012

South Africa's Shoprite To Invest R1.7 Billion IN nigeria

Shoprite to invest R1.7bn in Nigeria

Independent Newspapers.
Shoprite in Southgate in Gauteng. Photo: Leon Nicholas.
South Africa's Shoprite plants to spend up to 1.7 billion rand ($205 million) on securing new locations in Nigeria, its chief executive said on Tuesday, as Africa's top retailer ramps up sub-Saharan expansion.
Whitey Basson made the comment following the release of the company's full-year results. Shares of Shoprite were up nearly 2 percent at 159.34 rand at 12:26 SA time. - Reuters

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