JOHANNESBURG Aug 21 (Reuters) – South Africa’s Shoprite
plants to spend up to 1.7 billion rand ($205 million)
on securing new locations in Nigeria, its chief executive said
on Tuesday, as Africa’s top retailer ramps up sub-Saharan
expansion.
Whitey Basson made the comment following the release of the
company’s full-year results. Shares of Shoprite were up nearly 2
percent at 159.34 rand at 1026 GMT.
($1 = 8.3059 South African rand)
(Reporting by Tiisetso Motsoeneng; writing by David Dolan;
Editing by Ed Stoddard)
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