Shoprite ends Kenya expansion, plans retreat from the country

    Leaving the East African country after opening its first store there more than two years ago. By Nqobile Dludla, Reuters 8 Sep 2020  08:43 Image: Dean Hutton/Bloomberg Shoprite Holdings plans to sell or close its remaining two stores in Kenya by the end of December, leaving the East African country two years after entering it. The supermarket group has been reviewing its long-term options in Africa as currency devaluations, supply problems and weak consumer spending in Angola, Nigeria and Zambia have weighed on earnings. “Kenya has continued to underperform relative to…

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