By Segun Adeyanju
Retail Supermarkets Nigeria Limited (RSNL), operators of Shoprite in Nigeria, has secured new investor backing to strengthen its capital base and accelerate its turnaround strategy in the country’s retail sector.
The company announced that the investment signals renewed confidence in Shoprite’s long-term future in Nigeria, despite recent challenges facing retailers, including rising costs and liquidity pressures.
RSNL stated that with the new support, it is now focused on rebuilding stronger operations, meeting obligations to suppliers, and strengthening partnerships with Nigerian entrepreneurs to localize its supply chain.
Currently, over 80% of Shoprite’s assortment is sourced locally, with plans to expand further.
The retailer is also introducing affordable private-label products, value pricing, and energy-optimisation initiatives, while investing in modern store formats tailored to Nigerian shoppers.
Chief Strategy Officer, Bunmi Cynthia Adeleye, acknowledged the difficulties of recent months but said the fresh capital marks a turning point.
“With investor backing, we are rebuilding Shoprite to be more local, culturally relevant, affordable, and resilient.
“We are coming back bigger and stronger to serve Nigerian customers better than ever before,” she said.
RSNL reaffirmed its commitment to Nigeria, stressing that the move is not an exit but a resilient turnaround strategy built on investment, partnerships, and trust from millions of loyal customers and suppliers.
