Shoprite to Exit Ugandan Market

Shoprite is set leaving the Ugandan market after 21 years. In a statement, Shoprite said that they will also quit the market in Madagascar,

Shoprite’s 2020 results indicated that they had accumulated UGX. 43.5 billion in losses, a figure that was up from the UGX. 24.5 billion in losses that were registered in 2017.

Shoprite then citied continued under-performance, relative to return requirement.