Shoprite’s Nigerian operator, Retail Supermarkets Nigeria Limited (RSNL), has attracted a new wave of investor support, a move that signals renewed confidence in its long-term prospects and sustained presence in the country’s retail landscape.
According to a company disclosure on Monday, the fresh capital will reinforce RSNL’s turnaround agenda and serve as a springboard for the next chapter of growth for the supermarket chain. The firm admitted that recent years have been marked by severe headwinds across the Nigerian retail space, with surging costs and tight liquidity conditions straining operations.
Despite these pressures, RSNL explained that it has been steadily executing measures to restore stability and is now sharpening its focus on transformation with the backing of its new partners. The company emphasized its efforts to honor financial commitments to suppliers, strengthen established relationships, and deepen collaboration with Nigerian entrepreneurs to localize its supply network. At the center of this approach, it added, is ensuring customers continue to access quality goods at competitive prices.
The retailer also highlighted ongoing efforts to streamline operations. These include expanding domestic sourcing — already accounting for more than 80 percent of its product range — rolling out affordable private-label items, optimizing energy use, boosting productivity, and unveiling modern store formats tailored to local shoppers.
RSNL’s Chief Strategy Officer, Bunmi Cynthia Adeleye, acknowledged the turbulence of the past months but stressed optimism about the future. “The environment has been tough for businesses across Nigeria, ours included. But with this fresh backing, we are reshaping Shoprite to be more local, culturally in tune, affordable, and resilient. Our goal is to return stronger and serve Nigerian customers better than ever,” she said.
Reaffirming its long-term stance, RSNL underscored that Shoprite is not planning an exit from Nigeria. Instead, the company said it is committed to being a central player in the nation’s retail evolution — one built on resilience, sustained investment, and enduring partnerships with customers and suppliers alike.
