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Identify Of Nigerian Who May Take Over As Shoprite’s New Owner Unveiled

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Identify Of Nigerian Who May Take Over As Shoprite's New Owner Unveiled

Shoprite, Africa’s largest food retailer, announced on Monday it is considering selling off its majority share in its Nigerian subsidiary.

In a trading update filed at the Johannesburg Stock Exchange (JSE), the retail giant said it has begun the formal process of liquidating its majority share.

“Following approaches from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria, the board has decided to initiate a formal process to consider the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited. As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation when Shoprite reports its results for the year,’’ it said.

It was gathered that there is a corporate tussle among three entities to bite into the larger stake of the retailer.

Persianas Nigeria Limited, a property development company, owned by Tayo Amusan, is said to be the preferred bidder for the Shoprite stake.

Amusan is a businessman invested in property development. Some of his properties house the stores of Shoprite.

Amusan founded Persianas in 1990. In 2004, he launched, The Palms. Owing to the success of The Palms in Lagos, he floated three additional malls in Enugu, Kwara, Ota and Ibadan.

Amusan sits on the board of several Nigerian companies, including African Paints Nigeria Limited, and he is also the chairman of Resourcery Limited.

The two other contenders are said to be another property development company but with links to a foreign country, and a South African company backed by South Africa’s pension fund. Though Amusan is mooted to be the favoured investor, the other bidders are pushing negotiations hard.

TheCable understands the deal will involve Shoprite retaining the management of its chain of operations, brand name, trademarks, and supply chain.

In an internal memo of July 31 Carl Erickson, general manager of the retailer, informed employees that the revision in the business is to make the company ‘’truly Nigerian’’.

The memo read: “The expansion of the retail business in Nigeria to a greater consumer market should remain everybody’s shared vision. It has, however, become apparent that the best manner in which to do this is by engaging Nigerian investors who share in this vision. In so doing we will be creating a truly Nigerian business run and owned by Nigerians for the Nigerian market.”

Shoprite posted a sharp decline in sales of 6.3 percent in the 2020 fiscal year.

The retailer launched in Nigeria nearly 15 years ago, opening its first store in Lagos in December 2005.

That chain has grown from one to more than 25 retail stores across Nigeria — including some of the biggest retail stores in west Africa.

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Be ready to fight terrorism, insurgency – Army chief charges recruits

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The Chief of Army Staff, Lt.-Gen. Olufemi Oluyede has charged new recruits of the Depot Nigerian Army, Zaria, in Kaduna State, to remain prepared to fight terrorism and insurgency in the country.

The Chief of Army Staff emphasized the importance of upholding the Nigerian Army’s core values.

Speaking at the Passing Out Parade of the 6,195 of the 88 Regular Recruits Intake on Saturday, Oluyede emphasized the importance of courage, professionalism, and resilience in the face of adversity.

He also reminded the recruits that the life of a soldier is one of sacrifice and patriotism, noting that the “Nigerian Army is a professional institution tasked with the mandate of securing the sovereignty of our great nation, Nigeria.”

“As you pass out today and take your place in this noble profession, be aware that you will form part of our nation’s solutions to the challenges of terrorism and insurgency. Therefore, wherever you are deployed, your actions must be a reflection of your training, and you must display courage in the face of adversity.

“The journey of a thousand miles begins with one step, and your journey began on January 13, 2025, when you commenced your basic training. You have been prepared for anything the world will throw at you, and I assure you that you will face challenges that may initially seem insurmountable.

“Stand by the oath you have taken and do your duty without forgetting our core values of discipline, loyalty, integrity, selfless service, courage, and respect for others. These values will form the compass that will lead you to your finest hours in the face of adversity,” he said


Oluyede charged the recruits to strive for excellence in their duties, noting that “Your actions must be a reflection of your training, and you must display courage in the face of adversity. You must be trustworthy and committed to a currency of excellence, determination, and selfless service.”

The COAS assured the recruits that their welfare was his topmost priority.

“I urge you to take a quick, well-deserved break and be ready to receive the next set of recruits, as the process for the 89 Regular Recruits Intake has already reached an advanced stage. I assure you of the Army Headquarters’ support in always realising your training objectives”, COAS said.

Oluyede expressed appreciation to the President, Commander-in-Chief of the Armed Forces, and other stakeholders for their support to the Nigerian Army.

“I appreciate the President, Commander-in-Chief of our Armed Forces, His Excellency Bola Ahmed Tinubu, for his steadfast belief in and support of the Nigerian Army,” he said
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Police extend tinted glass permit deadline to August 12

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The Nigeria Police Force has extended the grace period for enforcement of the Tinted Glass Permit requirement to August 12, 2025, following widespread feedback from the public.

Inspector-General of Police, Kayode Egbetokun, announced the extension on Saturday in a statement issued by the Force Public Relations Officer, Olumuyiwa Adejobi, citing the need for a more citizen-friendly and accessible application process.

According to the statement, the decision reflects the NPF’s commitment to “transparent, inclusive, and citizen-focused policing” and comes amid ongoing technical and policy reviews of the permit system.

According to the police, the extension will give room for “enhancements and refinements” to both physical and digital application processes, including improved verification and reduced delays.

“The Force has not ignored the voices of Nigerians. Rather, these voices have been instrumental in guiding ongoing reviews of the process to ensure it remains user-friendly, secure, and accessible to all,” the statement said.

Nigerians are advised to apply or renew their permits exclusively via the official portal, and report any incidents of extortion or unauthorized charges encountered during the process.

The Police reaffirmed their dedication to public safety, digital innovation, and improved service delivery, urging continued cooperation from the public during the reform process.
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King Charles Honours Indian Air Crash Victims At Birthday Parade

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A minute’s silence for victims of the Air India plane disaster was held on Saturday at a London birthday parade for King Charles III, in which some members of the royal family also wore black arm bands.

The king, 76, requested amendments to the parade, known as Trooping the Colour, “as a mark of respect for the lives lost, the families in mourning and all the communities affected by this awful tragedy”, a Buckingham Palace spokesperson said.

A total 279 people, including passengers, crew and people on the ground, died on Thursday when a Boeing 787-8 Dreamliner bound for London’s Gatwick Airport crashed on take-off from Ahmedabad in eastern India.

The victims included 52 Britons. A sole survivor has been named as British man Vishwash Kumar Ramesh, from the central English city of Leicester.

In a written message after the disaster, Charles said he was “desperately shocked by the terrible events” and expressed his “deepest possible sympathy”.

Trooping the Colour, a minutely choreographed military tradition dating back more than two centuries, marks the British sovereign’s official birthday.

It starts at Buckingham Palace and moves down The Mall to Horse Guards Parade, where Charles receives a royal salute before inspecting soldiers.

Hundreds of people gathered outside the palace and along The Mall to watch the spectacle.

They included a small group of anti-monarchist protesters with yellow placards reading “not my king” and “down with the crown”.

Charles, who is still undergoing weekly treatment for an unspecified cancer, was accompanied by Queen Camilla for the parade.

Also present were heir Prince William, 42, his wife Catherine, also known as Kate, and their three children: George, 11, Charlotte, 10 and Louis, seven.

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