Tuesday, 25 August 2015

Walmart, Shoprite to battle for Africa's biggest market

Nigerians are eager to witness the supermarket wars. Walmart, the world’s largest retailer by revenue, is set to open big box stores in Lagos, West Africa's business hub.

At the end of July, Walmart's plan to launch in Nigeria’s commercial hub, Lagos was widely reported when the retailer’s top executive for Europe, the Middle East, Sub-Saharan Africa (EMEA), Ms.  Shelley Broader, met with Lagos state governor Akinwunmi Ambode.

Walmart has had business operations in Nigeria, and 12 other African countries, since its acquisition of stake for $1.5 billion in Massmart. Game is a chain owned by Wal-Mart that’s known for household goods ranging from soap to electronics. It has six outlets in Nigeria. The new stores will be the first Walmart stores in Nigeria.

Nigeria’s modern retail market is still developing and no chain has national presence meaning Walmart will mainly compete with South Africa’s Shoprite which is Africa’s largest retailer by sales.

Shoprite this month also announced that it would be opening 14 more stores in Nigeria within the next 20 months, in addition to 12 stores in the country.

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