Tayo Amusan
Everything appears to be coming together for Tayo Amusan, the billionaire businessman and boss of the popular shopping mall on Victoria Island, Lagos, The Palms. After the many uncertainties that threatened his life and livelihood in 2020, Providence has pressed a reset button for the Lagos-based enterpriser a reset button that guarantees a quantum leap in Amusan’s fiat and fortune.
The COVID-19 crisis of 2020 racked up the nerves of travelling business people all around the world. As one of the many reportedly infected with the virus, Tayo Amusan was the subject of many conjectures, many fears, and many prayers. But it all ended in happy tears, with Amusan hale and indescribably hearty. With recent developments, Amusan’s happiness is even more unquantifiable.
Shoprite sells Nigerian business to property company - Report | The Guardian Nigeria News - Nigeria and World NewsNigeria — The Guardian Nigeria News – Nigeria and World News guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
It said the board decided to formally exit its operations in Nigeria over unfavourable market conditions.
“The Board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited. As such, RSNL may be classified as a discontinued operation when Shoprite reports its results for the year,” the management said in the update.
Shoprite Holding in the latest publication of its financial report for December 2020 operations, under its non-current assets held for sale and discontinued operations, maintained that in the short-term, “Strategic shifts made with the Nigeria sale and Kenya closures.
Shoprite shares climb as the retailer delivers growth
Operational update for the six months ended 27 December 2020
For the six months to 27 December 2020 the Shoprite Group increased total sale of merchandise by 4.7% to approximately R83.4bn. Excluding the impact of the closure of the RSA LiquorShop business due to COVID-19 lockdown regulations, the Group increased total sale of merchandise by 6.3%.
The following information provides context to the overall sales growth:
Supermarkets RSA
The Group’s core business, Supermarkets RSA, contributing 78.0% to Group sales, achieved sales growth of 5.6% (like-for-like 4.8%).
Supermarkets RSA, excluding LiquorShop sales, achieved sales growth of 7.8% (like-for-like 5.7%).
Checkers and Checkers Hyper reported sales growth of 11.1%.