Pick n Pay Announces Plan To Enter Nigerian Market

South Africa’s local retail giant Pick n Pay has announced plans to enter the Nigerian market in a joint partnership with Nigerian stock exchange-listed AG Leventis.

Making this announcement at the release of the group’s full-year results on Tuesday, CEO Richard Brasher noted that the Nigerian market is one the company can no longer afford to ignore.

“The opportunity presented by Nigeria is well-known: a population of 180 million, an economy worth $500 billion and GDP growth of around 5% a year. Some analysts forecast that by 2030 Nigeria could have 160 million households with sufficient incomes for discretionary spending and a consumer goods market worth more than $1 trillion,” he was quoted saying in a Biz News report.

Nigeria Bulletin

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