SA’s Game stores to exit Nigeria, Ghana, other African countries

Massmart Holdings Limited, a South African (SA) firm and second-largest distributor of consumer goods in Africa has announced plans to dispose of all general merchandise, a total of 14 Game stores across Nigeria, Ghana, Uganda, Kenya and Tanzania, as reported by Reuters.

This was disclosed by Mitch Slape, the chief executive officer of Massmart on Friday. For leaving Nigeria, it is no surprise as its currency volatility and weak consumer demand has made other SA retail stores like Shoprite and Mr Price to exit the country recently.

According to Slape, as part of its turnaround plan to stabilise the business, it will review its store portfolio outside of Southern Africa.

Slape also said the move will result in an annual profit before interest and tax improvement of R750 million ($50.2 million)