South Africa’s Shoprite Holdings Ltd posted $10.27 million gain from the sale of its assets in Uganda, Madagascar and Nigeria as Africa’s largest fast-moving consumer goods retailer retreated from markets it has considered under-performing on the continent.
This comes as the group made a provision of $87.89 million on loss-making stores outside South Africa during the 53-week period ended July 4, 2021, while its net debt increased by four percent to $1.77 billion from $1.7 billion.
