Shoprite ends Kenya expansion, plans closure of stores

Africa's largest retailer Shoprite Holdings said on Tuesday it expected to close or dispose of its remaining two stores in Kenya in the year ahead, leaving the country after opening its first store there more than two years ago.

The supermarket chain has been reviewing its long-term options in Africa as currency devaluations, supply issues and low consumer spending in Angola, Nigeria and Zambia have weighed on earnings.

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