LAGOS JANUARY 21ST (NEWSRANGERS)-Record inflation, a sliding naira currency and weak financial structure are keeping investors wary of Nigeria, Africa’s largest economy, with some companies even stepping away despite economic reforms under recently-elected President Bola Ahmed Tinubu. Tinubu, who took office last May, has repeatedly called for patience to allow his reforms to take effect…
LAGOS MARCH 16TH (NEWSRANGERS)-Shoprite Group has announced its unaudited results for the 26 weeks to 27 December 2020 in which sale of merchandise increased by 4.7% to R83.4 billion while its trading profit increased by 18.3% to R4.7 billion. The Group confirms that the terms of sale have been concluded for the disposal of a…
LAGOS MARCH 3RD (NEWSRANGERS)-All 25 outlets of food retailer Shoprite in Nigeria have been shut down by workers, who are currently embarking on an industrial action over the sale of the company to Tayo Amusan’s Jara. TheNewsGuru.com (TNG) reports the workers took to the Shoprite outlets located in malls across the cross the country to…
LAGOS DECEMBER 6TH (NEWSRANGERS)-Seventy Seventy- years-old Agbaoye of Ibadanland Harry Akande was announced dead on Saturday 5th of December this year at his home town Ibadan. From a statement given out by his family he was said to have had a brief illness before his death which sources had it to be Covid-19 (but yet to…
LAGOS AUGUST 4TH (NEWSRANGERS)-Property developer Tayo Amusan is believed to be in the frontlines to buy the majority share of Africa’s largest food retailer Shoprite in its Nigerian subsidiary. Mr Amusan owns Persianas Nigeria Limited, a property development company, with some of his property housing Shoprite stores. The Nigerian is believed to be among three…
LAGOS AUGUST 3RD (NEWSRANGERS)-Senator Shehu Sani says the planned exit of South African grocery retailer Shoprite from Nigeria will benefit local supermarkets. The former Kaduna South lawmaker stated this on Monday following announcement by the company that it is discontinuing operation in Nigeria after 15 years. “If Shoprite wants to stay, they can stay; if…
LAGOS JULY 29TH (NEWSRANGERS)-A housewife, Mrs. Gbemisola Alabi, 35 was on Sunday morning kidnapped by some unknown persons, while jogging around Monastery road near Novare Mall – Shoprite, Shongotedo- Ajah, Lagos on Sunday (28th July 2012). As at 7pm on Monday, her family was yet to be contacted by her captors. According to her relatives,…