Friday, February 3, 2023
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
TechBooky Africa
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
  • Fintech/Finance
  • Login
No Result
View All Result
TechBooky Africa
Home East Africa

South African Retail Company Massmart To Sale 14 Game Stores Across West Africa And East Africa

Raymond Egbadu by Raymond Egbadu
August 28, 2021
in East Africa, West Africa
0

Massmart — one of the biggest retail outlets in South Africa — has disclosed plans to sell its assets in some African regions, following the footsteps of Shoprite — one of its competitors. The company plans to sell 14 game stores it owns across different countries in East Africa and West Africa. The stores are located in Ghana, Uganda, Nigeria, Tanzania, and Kenya.

Related posts

Meta

Sama Terminate Corporate Operations With Meta In Fear Of The Kenyan Regulatory Lawsuit.

January 12, 2023
Releaf Completed Its Pre-Series A Funding With $3.3M To Industrialize Food Security In Africa.

Releaf Completed Its Pre-Series A Funding With $3.3M To Industrialize Food Security In Africa.

January 9, 2023

This recent development was disclosed on Friday by Massmart’s CEO, Mitch Slape, per Reuters. The company revealed its decision to sell some of their stores in these regions came as a result of the economic conditions in the countries earlier mentioned.

“To be honest, we had to evaluate the efficiency and complexities of operating those enterprises. We have started an official sales strategy, and we’re now in talks with possible buyers about taking over those stores”, Slape disclosed in a statement.

“However, this is insufficient. Reaching break-even performance will not suffice to satisfy us; we need to return Game to a sustainable degree of value and proficiency,” he further stated.

This development came after the Walmart-owned company — Massmart — disclosed a half-year loss.

Massmart also said a move away from the West African and East African marketplace will see the company earning about $50 million annually.

In a report by Nairametrics in June this year, Shoprite has been bought by a Nigerian company called Ketron Investment Limited. The company is owned some investors from Persianas Investment Limited, and has been approved by the Federal Competition and Consumer Protection Commission (FCCPC).

“We are overjoyed to have completed the purchase of Shoprite. We are assuring that the ongoing running of one of Nigeria’s greatest commercial success stories will continue. We are looking forward to establishing an even better organization as a result of this purchase, and we are enthusiastic about the bigger influence we will have today and in the coming years; for the advantage of our customers and other partners,” stated Ketron Investment Limited’s chief,” Tayo Amusan.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Tags: east africamassmartretailshoppingwest africa
Previous Post

MTN Nigeria Showers ₦8.4b On Customers — Gifts SUVs To Twenty Lucky Winners

Next Post

Nigerian Economy: ICT Sector Contributes ₦5.5 Trillion To GDP In H1 2021

Next Post
Nigerian Economy: ICT Sector Contributes ₦5.5 Trillion To GDP In H1 2021

Nigerian Economy: ICT Sector Contributes ₦5.5 Trillion To GDP In H1 2021

RECOMMENDED NEWS

Taptap Send Bag $65M Series B Deal To Innovate Cross-Border Remittances On The Most Underserved Marketplace.

Taptap Send Bag $65M Series B Deal To Innovate Cross-Border Remittances On The Most Underserved Marketplace.

1 year ago
Tax Evasion Dispute: Multichoice Ordered To Pay Fifty Percent Of The ₦1.8 Trillion It Allegedly Owes FIRS Before September 23rd

Tax Evasion Dispute: Multichoice Ordered To Pay Fifty Percent Of The ₦1.8 Trillion It Allegedly Owes FIRS Before September 23rd

1 year ago
Binance Smart Chain Blockchain Debut Sleepaway Poverty Token To the Crypto Market.

Binance Smart Chain Blockchain Debut Sleepaway Poverty Token To the Crypto Market.

12 months ago
The MTN Group Proposes an Acquisition Deal to Telkom.

The MTN Group Proposes an Acquisition Deal to Telkom.

7 months ago

FOLLOW US

  • 70.9k Followers

BROWSE BY CATEGORIES

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa

BROWSE BY TOPICS

5g acquisition africa app banking CBDC cbn central bank of nigeria cloud cryptocurrency Crypto market cybersecurity e-commerce e-naira east africa ecommerce economy enterprise fintech funding Fundraising google government inec internet investment kenya License microsoft mtn ncc nigeria Nigerian Communications Commission Regulator remittance ride hailing seed social media software south africa startup technology telecom twitter west africa

Featured Categories

App
19 Posts
View Posts
Banking
17 Posts
View Posts
Business
7 Posts
View Posts
Cryptocurrency
27 Posts
View Posts
Cybersecurity
13 Posts
View Posts
East Africa
23 Posts
View Posts
Economy
18 Posts
View Posts
Enterprise
31 Posts
View Posts
Event
9 Posts
View Posts
Fintech/Finance
83 Posts
View Posts
Funding
29 Posts
View Posts
Gadget
11 Posts
View Posts
Government
55 Posts
View Posts
Insight
4 Posts
View Posts
Internet
20 Posts
View Posts
Investment
18 Posts
View Posts
Nigerian/African Tech
31 Posts
View Posts
North Africa
2 Posts
View Posts
Personnel
2 Posts
View Posts
Research/How to do it
2 Posts
View Posts
Service
8 Posts
View Posts
Social Media
19 Posts
View Posts
Southern Africa
17 Posts
View Posts
Startup
83 Posts
View Posts
Telecom
36 Posts
View Posts
Transport
11 Posts
View Posts
Uncategorized
2 Posts
View Posts
West Africa
41 Posts
View Posts
No Result
View All Result
Loading
  • Audi South Africa
    Audi Invest R45 Million In South Africa To Deploy EV Charging Infrastructure.
    • February 1, 2023
  • Starlink Nigeria.
    Elon Musk’s Starlink Satellite Internet Service Finally Debuts In Nigeria.
    • February 1, 2023
  • Amazon & Stripe
    Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
    • January 25, 2023
  • Airtel eSIM
    Airtel Launches eSIM Technology In Nigeria
    • January 25, 2023
  • Mafab Communication Debut 5G Cellular Data In Nigeria.
    • January 24, 2023
TechBooky Africa

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc.

Follow us on social media:

Recent News

  • Audi Invest R45 Million In South Africa To Deploy EV Charging Infrastructure.
  • Elon Musk’s Starlink Satellite Internet Service Finally Debuts In Nigeria.
  • Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.

Category

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa
  • Home
  • TechBooky
  • Business
  • Video
  • Contact Us

© 2022 Techbooky Africa .

No Result
View All Result
  • Home
  • TechBooky
  • Business
  • TV
  • Startup

© 2022 Techbooky Africa .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In