South Africa‘s Shoprite Holdings, Africa’s biggest retailer by sales, will open nearly twice as many stores on the rest of the continent this year as in 2014, chief executive Whitey Basson said on Tuesday.
The supermarket operator is banking on rapid growth in markets such as Nigeria and Angola where it aims to change the shopping habits of Africa’s rising middle class.
The retailer, which also operates the Checkers grocery chain and OK Furniture, reported a 10.8 percent rise in full-year earnings on Tuesday, buoyed by sales growth of 13.5 percent in stores outside its home market.
Read more: South Africa’s Shoprite to accelerate African expansion | Reuters
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