South Africa’s retail giant, pick n Pay, has announced it will exit the Nigerian market after selling its 51% stake in a joint venture with AG Leventis.
Initially launched to capture Nigeria’s expanding consumer base, pick n Pay’s Nigeria venture was a partnership aimed at leveraging AG Leventis’ deep-rooted presence and expertise in the Nigerian retail and logistics sector.
However, challenging market conditions and changing strategies have led the company to reconsider its foothold in Nigeria, mirroring recent pullouts by other international brands facing similar struggles in the region.
