Leading south African retail gaint, Pick n Pay has concluded plans to invest in Ghana and Nigeria next year.
The expansion plans according to our source is aimed at gaining grounds following stiff competition from rival retail gaint Shoprite.
Pick n pay already operates in Zimbabwe, Botswana and Namibia but intends to expand across the African continent.
The South African retailer said it would take a 51 percent stake in a Nigeria joint venture with conglomerate A.G. Leventis. Revealing a 26 per cent jump in annual earnings on Tuesday, Pick n Pay’s CEO Richard Brasher said he was aware of tough trading conditions in Nigeria and would not expand hastily.
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