This decision comes after a detailed assessment of the store’s financial performance and the current business environment, aimed at aligning with the company’s long-term growth strategy.

Dr Folakemi Fadahunsi, the Chief Executive Officer of RSN, disclosed this development in an official statement, highlighting that the company would cease operations at the Wuse, Abuja location by the end of June. 

“We regret to inform you that as of June 30, 2024, Retail Supermarkets Nigeria Limited will be closing its Wuse Store located in Novare Wuse Central Mall, Abuja. This decision has been made after a thorough evaluation of the store’s financial situation and the current business climate,” Dr Fadahunsi stated.

The closure means that RSN will no longer require the services of its partners and service providers associated with the Shoprite store at Novare Wuse Central Mall. 

“Effective June 30, 2024, our company will no longer operate in Wuse, Abuja, and we will no longer require your services for the Novare Wuse Central Mall Store. Please note that all existing service contracts will also terminate for the store,” Dr Fadahunsi added.

RSN has assured its partners that any outstanding balances and related financial matters will be addressed diligently. The company plans to review its accounting records over the next 60 days to ensure all dues are settled. 

“If your services are specifically tied to the Novare Wuse Central Mall Store and if there is an outstanding balance between our companies, we will carefully review our accounting records over the next 60 days. We will then promptly contact you to confirm the amount owed and discuss a suitable payment schedule,” the statement read.

Dr Fadahunsi appreciated partners and service providers for their past business and cooperation, stating the pleasure of working together.

“We would like to express our gratitude for your past business. It has been a pleasure working with you and your team. If you have any questions or concerns, or if there is anything we can do to assist you during this challenging transition, please do not hesitate to reach out to us.”

Multinational companies are reducing their presence in Nigeria. Notably, Diageo recently sold its 58.02% stake in Guinness Nigeria to Tolaram Group, and several other companies have exited the Nigerian market in recent years.

The impact of these exits on Nigeria’s economy has been huge, with an estimated N94 trillion loss in output over the past five years.

The announcement points to Chowdeck’s goal of becoming the go-to platform for on-demand services across the continent.

As of now, Shoprite is available on Chowdeck in four major cities: Lagos, Ibadan, Abuja, and Port-Harcourt, with plans to expand to more cities in the near future. The addition of Shoprite, a renowned retail giant, means Chowdeck users can now seamlessly order groceries and have them delivered to their doorstep.

With 11,000 Stock Keeping Units (SKUs) available on the store, Chowdeck declares itself as the one-stop-shop for all grocery needs. This Christmas season, users can revel in the convenience of ordering everything from festive treats to daily essentials with just a few taps on their smartphones.

The move comes on the heels of Chowdeck’s impressive growth, with monthly gross merchandise value (GMV) crossing $1.2 million in November 2023. Femi Aluko, CEO of Chowdeck, revealed that the platform boasts over 60,000 active users as of October 2023, a significant leap from the 7,000 users recorded in January.

Charles Dairo, CEO of Beezop, had previously emphasized the potential impact of a partnership between Chowdeck and Shoprite, predicting that such a collaboration would make Chowdeck “untouchable” in the market. Chowdeck’s Head of Sales, Kennedy Offor, acknowledged the challenge and successfully executed the partnership, adding Shoprite to the roster of notable chains already integrated into Chowdeck’s logistics application.

Chowdeck’s previous partnerships with food chains like So Fresh, Eat ‘N’ Go Africa, and Chicken Republic have positioned it as a major player in the on-demand delivery space.

Traditionally known for its on-demand food delivery services, Chowdeck’s move into the grocery industry is a noteworthy shift. This partnership both broadens Chowdeck’s offerings and positions it as a comprehensive solution for users looking to streamline their shopping experiences.

Chowdeck’s collaboration with Shoprite carries implications beyond the individual success of the two companies. The move mirrors a broader trend in the on-demand delivery industry, emphasizing the growing importance of diversification to meet the evolving needs of consumers.

As the holiday season approaches, the timing of this partnership aligns with increased consumer demand for convenient and reliable delivery services. In providing access to Shoprite’s extensive range of products, Chowdeck enhances its value proposition and also contributes to reshaping how consumers approach holiday shopping.

The strategic collaboration comes at a time when other players in the Nigerian online delivery market are also making significant moves. The exit of Bolt Food on December 7, 2023, further highlights the dynamic nature of the industry. Chowdeck’s ability to forge partnerships with renowned brands like Shoprite positions it as a formidable competitor, especially in the wake of industry exits.

Chowdeck’s alignment with Shoprite is not an isolated incident. The partnership follows a trend set by other online food delivery platforms like Glovo, which previously formed a similar alliance with Shoprite. This emphasizes the broader industry acknowledgement of the retail giant’s significance in meeting the needs of online shoppers.

It is back-to-school season! Oh, you are not too late for shopping.

We understand that getting quality supplies with the high level of demand can be tough, to help ease your stress, we have compiled a list of some of the best retailers that sell quality back-to-school supplies in Nigeria.

1. Shoprite: Shoprite, a well-known supermarket chain in Nigeria, provides a wide range of back-to-school items such as bags, shoes, and school supplies. Their competitive prices and discounts make them an excellent choice for budget-conscious shoppers.

2. SPAR: SPAR is another leading supermarket chain with locations across the country, they stock a wide variety of back-to-school items at very competitive prices. They are a convenient choice for shoppers.

3. Skit Store: Skit Store is a Nigerian retailer that specializes in school supplies. Their offerings include a wide variety of brands and products, including backpacks, lunch boxes, stationery, and more, they are a great option for shoppers looking for variety.

4. Konga: If you prefer shopping online, Konga provides a great online shopping option.. They offer a wide variety of back-to-school items at discounted prices, making it a convenient choice.

5. Jumia: Jumia is another online retailer, where you can find a wide variety of back-to-school items at competitive prices. They have a convenient delivery service and a secure payment system, making them a great option for shoppers who prefer to shop online.

When shopping for back-to-school items, it is important you compare prices from different stores to find the best deals. You can also look for coupons and promo codes for online stores to save more money.

Here are some tips for getting the best prices on back-to-school items:

1. Shop early: Sellers offer discounts and promotions on back-to-school items early in the season before there is a high demand.
2. Buy in bulk: If you are shopping for more than one child or planning on stocking up supplies for the entire year, buying in bulk will get you discounts and help you save money.
3. Look for coupons and promo codes: Many online stores offer coupons and promo codes that can be used on back-to-school items, so make sure you are on the lookout.
4. Shop online: Online stores usually offer lower prices and promos than walk in stores.
5. Consider secondhand items: You can often find gently used back-to-school items in good condition at thrift stores or your local market.

In line with its vision to provide everyone with easy access to anything in their city, leading multi-category app, Glovo has entered into a strategic partnership with Nigeria’s largest supermarket retailer, Shoprite.

Through this alliance designed to offer a simple, fast and convenient experience for consumers to buy groceries online, customers can now order all their daily essentials including freshly prepared meals, fresh fruits, and vegetables from Shoprite on Glovo. Thanks to Glovo’s fleet of couriers, products are delivered to customers within an hour after the order is placed. 

The partnership, which was signed in May, covers all Shoprite stores where Glovo is active – Lagos, Abuja & Ibadan, with plans to expand to other cities in the coming months. This move drastically changes the game in the local commerce industry, further elevating Glovo’s standing in the Nigerian market, just two years after its arrival on the scene. 

Tosin Olukoya, Strategy Manager, Retail Supermarkets Nigeria, noted that e-commerce has revolutionized retail and the supermarket wants to meet the ever-changing needs of the modern-day customer by making online shopping even easier through Glovo. “Shoprite is constantly looking for ways to deliver innovative services that make customers’ daily shopping experience easier. Leveraging Glovo’s global and local expertise in the quick commerce industry, we believe this partnership will offer fast and convenient home delivery service that allows us to address our customers needs in the digital age,” said Olukoya.

The Chief Strategy Officer for Retail Supermarkets Nigeria, Bunmi Adeleye, further stated that the business relationship with Glovo aligns with the ambition of Retail Supermarkets Nigeria to deliver convenience, quality and exceptional value to customers as well as the communities they operate in.

Speaking on the agreement, Kolawole Adeniyi, Head of Q-commerce for Glovo Nigeria said that the partnership aligns with Glovo’s vision to provide everyone with easy access to anything in their city. He said, “To deliver on our vision, we seek partnerships with top retailers with stores widespread across our active locations. Glovo is enjoying strong growth and has big ambitions. Our goal is to make grocery shopping faster, smoother and more convenient than ever before for the customer. Our partnership with Shoprite will allow us to do this, building on this new vertical and helping us drive growth further across Africa.”

Also commenting, Lamide Akinola, General Manager, Glovo Nigeria said, “Our desire is to be the top-of-mind multicategory app and we look forward to enabling our consumer base to access Shoprite products from wherever they are. We believe that this partnership will help us achieve our broader strategy of being a one-stop-shop for all our customer’s deliveries.” she added.

OurPass is providing businesses with access to banking, payment and business management tools to enable them start, grow and scale their businesses.

The company launched in 2021 after raising a $1 million pre-seed led by Tekedia Capital with a goal of helping businesses increase their sales conversion rates by eliminating long entry forms at checkout using its one-click checkout solution.

However, as the business observed the market and conversed with its customers, it recognised that beyond offering a niche service, it could provide end-to-end solutions that helped entrepreneurs grow every aspect of their business.

“With a mission to create a borderless world of successful businesses, we are committed to making it easier for businesses, irrespective of size and location, to gain access to banking services, but we are not stopping there,” said Samuel Eze, Founder and CEO of OurPass. “We are also providing them with access to all the payment and business management tools they need to grow and thrive.”

The neobank offers free business account numbers in under five minutes when businesses sign up, access to capital to build their businesses, and great investment opportunities with its fixed deposits offering.

Its optimized payment tools, such as POS terminals, QR codes, and instant transfers, also enable businesses to receive and make payments seamlessly. In addition, OurPass provides a quick invoicing tool to keep businesses organized and help them get paid on time, and is building out its inventory, storefront, and digital tag systems.

Staff management tools allow businesses to safely grant their teams controlled access to business information such as payment confirmations, and manage their branch operations from anywhere in the world with OurPass’ sub-business feature.

“Our pivot and the fact that we are still growing is a clear testament to our dexterity in adapting to changing times,” said Eze. “We are already serving thousands of customers including some of the biggest retail outlets in Nigeria like Spar, Shoprite and EatnGo, processing about 1,000,000 transactions monthly. We have also secured our own Microfinance Banking License from the Central Bank of Nigeria and we hope to serve over 200,000 active businesses by the end of Q4 2023.”

The loans, broken down into R2 billion ($176 million), a R800 million ($47 million) sustainability-linked loan and a R700 million ($41.7 million) green loan, were received from Standard Bank and RMB respectively, for investment in environmental projects.

Shoprite will leverage the loan for its expansion by investing in:

• Renewable energy and the increase of energy from renewable resources as a percentage of total electricity consumption 
• Recycling cardboard and plastic
• Sustainable packaging, including reusable, recyclable and compostable packaging, containing recycled material and
• Energy efficiency, including LED lighting, and a monitoring system for refrigeration to reduce energy consumption and waste

The Group will also utilize the loan to expand its existing sustainability investment. In the previous financial year, Shoprite affirms to have:

• Reduced carbon emission intensity by 3.3% and water use intensity by 7.5%
• Increased the installed capacity of its solar photovoltaic (PV) systems by 82% 
• Reduced electricity consumption by 150 million kWh through its LED lamp replacement project since inception
• Recycled 46 102tons of cardboard from stores and distribution centres and diverted 10,241 tons of plastic waste from landfills and 
• Paid R2.2 million in rebates to customers for reusing their plastic bags since inception

Sanjeev Raghubir, Shoprite Group’s Sustainability Manager said: “The loans enable us to continue on the road to reduce our environmental footprint by using more renewable energy and sustainable packaging and recycling more waste. These environmental programmes are key in our fight against climate change, and we are able to increase the pace and intensity of our actions with these loans.”

He further noted that the Group’s record to date has provided funders with demonstrable evidence of the nature and scale of its sustainability projects as well as ambitions, and enabled the retailer to access a preferential cost of funding.

“The loans allow us to continue to make a sustainable, positive environmental impact and improve our operational efficiencies which in turn result in additional ongoing savings that we can pass on to our customers.”