Shoprite Exits Ghana After 21 Years, Sells Off Local Stores in Strategic Africa Retreat
Retail giant winds down Ghana operations after two decades, citing economic headwinds and renewed focus on South African core market.
- Shoprite exits Ghana after 21 years
- Binding offer received in June 2025
- Part of broader pullout from African markets due to economic challenges
South African retail giant Shoprite Holdings has confirmed it is exiting the Ghanaian market, marking the end of over two decades of operations in the West African country.
In a trading update for the financial year ending June 29, 2025, the company revealed it had received a binding offer in June to acquire its Ghana-based assets, including seven retail outlets and a warehouse. Shoprite has now classified its Ghanaian operations as “discontinued”, calling the sale “highly probable.”
“The Group received a binding offer during June 2025 to dispose of the assets and liabilities in relation to the operations in Ghana,” the statement read.
This move aligns with Shoprite’s ongoing strategy to scale back its African expansion and consolidate operations within South Africa, following earlier withdrawals from Nigeria, Kenya, Uganda, Madagascar, and the Democratic Republic of Congo. The company also disclosed it had signed an agreement on June 6 to divest from five trading stores in Malawi, pending regulatory approvals.
Shoprite’s exit is largely driven by persistent challenges in African markets, such as currency instability, high import tariffs, inflation, and dollar-denominated lease agreements, which have significantly impacted profitability.
The retailer entered Ghana in 2003, establishing itself as a major player in the country’s retail landscape. However, this strategic withdrawal reflects broader industry trends and signals Shoprite’s increasing focus on streamlining operations and boosting performance at home.
While the buyer remains unnamed, regulatory clearance is expected to pave the way for a formal handover in the near future.
