February 21, 2017 / 12:40 PM / 6 months ago

South Africa's Shoprite to open less stores in Nigeria than planned

JOHANNESBURG, Feb 21 (Reuters) - South Africa's Shoprite will open two stores in Nigeria over the next 15 months, down from as many as 13, the retailer's chief executive said, citing lack of retail space in the west African country.

"Look, at Nigeria with the new legislation there where the clothing retailers had to withdraw, now you don't have enough tenants for (shopping) centres and therefore not as many centres are being built and now growth slows," Pieter Engelbrecht told Reuters in an interview. (Reporting by TJ Strydom; Editing by Tiisetso Motsoeneng)

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