South Africa’s largest grocery retailer Shoprite Holdings has announced that it is soon withdrawing all its operations in Uganda as well as Madagascar. This following its long-term review options across Africa over the past year as currency devaluations, lower commodity prices and high inflation continue to hit household incomes and weighed on earnings.
Shoprite has been running several outlets from Lugogo Mall – Kampala, Bugolobi Village Mall, Acacia Mall in Kololo and Victoria Mall in Entebbe. They now follow Uchumi and Nakumatt that showed exit from Ugandan market earlier.
Shoprite that had cemented its footprints in Kampala for over 20 years has been of recent facing competition from local supermarket outlets such as Mega Standard, Quality and Capital shoppers supermarkets.