The company had in August, in its half year 2020 financial report, announced that it would gradually end its operation in Nigeria.
It said the board decided to formally exit its operations in Nigeria over unfavourable market conditions.
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.
“Classify, the group’s Nigeria subsidiary as discontinued operations,” it said in the report.
In the comparative result obtained from its website, yesterday, Shoprite Holdings said the business was profitable but still marked for sale since 2019.
“Assets and liabilities relating to the Nigeria operations disclosed as held for sale.”
For the 2020 operational year, the company still found the business profitable but still held onto discontinuing the operations.
“Statement of comprehensive income reflects profit from discontinued operations separately; assets and liabilities relating to the Nigeria operations disclosed as held for sale,” it stated.
Still providing the transaction update, the company said the “Nigeria sale near completion” just as the Kenya closure will be complete by year end and would be reported as discontinued operation in June 2021, a process towards winding up its outlets in Kenya.
The company will continue its operations in Angola, Zambia and Mozambique. It reported an appearance exchange rate crisis in Nigeria between the US dollar and the Naira, causing a loss of -7.9 percent as of 2020 when considered to the exchange rate in 2019.
The company hopes to ‘de-dollarise costs where possible’ while ‘increasing local procurement’ across its retail outlets.
Posts
Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.
We will also try as much as possible to optimize your post for search engines as well.
Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.
2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.
Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.
Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to advert @ alexa. ng
Normally, we should respond within 48 hours.