South African retail giant Pick n Pay has announced its decision to exit the Nigerian market by selling its 51% stake in a joint venture with A.G. Leventis (Nigeria). CEO Sean Summers confirmed on Monday that the move is part of a broader strategy to streamline the company’s operations outside South Africa.
Pick n Pay entered the Nigerian market less than five years ago, establishing two stores in collaboration with A.G. Leventis. The exit from Nigeria aligns with the retailer’s restructuring plans aimed at focusing on key markets where it can maximize growth potential.
Details later….
