South African grocery retailer Pick n Pay has announced plans to exit the Nigerian market by selling its 51% stake in a joint venture.
CEO Sean Summers disclosed the decision as part of the company's strategy to restructure its operations outside its home market.
The exit aligns with Pick n Pay's broader efforts to focus on markets where it can achieve sustainable growth and profitability, following challenges in Nigeria's retail sector.
The retailer has two stores in Nigeria, having entered the market less than five years ago through a partnership with A.G. Leventis, Nigeria.
