Shop Rite to spend $205 million on new Nigerian outlets

South Africa’s Shoprite plans to spend up to $205 million on securing new locations in Nigeria, its chief executive said on Tuesday, as Africa’s top retailer ramps up sub-Saharan expansion.
With outlets in Abuja, Lagos, Enugu and Kwara states, the mega shopping mall intends to spread across Nigeria and the sub Saharan region at large.
Whitey Basson made the comment following the release of the company’s full-year results.