South African supermarket store Shoprite is selling its operations in Ghana and Malawi.
The move, announced by the retailer on Tuesday, is part of the chain’s efforts to focus on its home market. The planned sales follow the retailer’s exits from DR Congo, Kenya, Madagascar, Nigeria, and Uganda in the last few years.
The retrenchment follows years of expansion across the continent during which the grocery store became Africa’s top food retailer in around 15 countries. Shoprite changed course after encountering currency volatility, double-digit inflation, restrictive import regulations, and leases pegged to the US dollar — problems which were most pronounced in Angola and Nigeria.
Shoprite’s departure from other African markets contrasts with its expansion within South Africa. It has launched hundreds of new stores in its home market over the last year, scaled up its Sixty60 e-commerce delivery service, and diversified into pet supplies, health care, and outdoor gear.