Retail giant Shoprite departs from Ghana and Malawi as announced by our news platform
In a strategic move to focus on its core South African operations, Shoprite, the largest South African supermarket chain, is leaving Ghana and Malawi. The company has received a binding offer for the sale of its seven stores and warehouse in Ghana, and signed a sale agreement for five stores in Malawi, pending regulatory approvals [1][2][5].
This decision marks Shoprite's sixth and seventh market withdrawals on the continent in recent years, driven by challenges such as currency volatility, inflation, import duties, and lease agreements pegged to the US dollar, which have impacted profitability. The retail giant has already left countries including Nigeria, Kenya, Uganda, Madagascar, and the Democratic Republic of Congo [1][2][5].
Despite these exits, Shoprite remains committed to its African roots. The company is focusing squarely on its home base, South Africa, and is expanding store count, scaling delivery with Sixty60, and growing in pet, health, and outdoor retail [5].
Meanwhile, in Tanzania, the central bank-led approach to financial services is actively shaping payment flows. Tanzania upgraded its Financial Services Registry (FSR) with geospatial mapping tools to identify access gaps in financial services. The real-time digital payments network TIPS, launched in 2020, processed double of what it did in 2023, reaching TSh29.9 trillion ($11.6 billion) in transactions by December 2024 [3]. Tanzania is betting on digital public infrastructure as a catalyst for inclusive growth.
On the educational front, MEST Africa has opened applications for its 2026 AI Startup Programme, offering training and incubation to West African software developers aged 21-30. The deadline for applications is August 22, 2025 [4].
In the clean energy sector, Nithio is offering flexible financing to startups in Kenya and Nigeria. Eligible ventures include solar home system providers, clean cooking ventures, and businesses selling appliances like solar fridges or mills [6].
Unfortunately, the fintech community lost a prominent figure last year. Leon Kiptum, a former executive at Flutterwave, passed away on August 3, 2022, after a long battle with cancer. Kiptum was known for his quiet strength, generosity, and deep commitment to others in the industry [7].
Lastly, South Africa's Johannesburg Stock Exchange (JSE) is considering making its market always open for trading. If the JSE proceeds, it would be the first traditional exchange to go fully sleepless, as no major stock exchange currently runs 24/7 [8]. This move could potentially encourage more equal participation across the financial ecosystem, similar to Tanzania's approach of prioritizing interoperability and central oversight in its digital rails [3].
References: [1] https://www.bloombergquint.com/business/2022/08/05/shoprite-to-exit-ghana-amid-continental-retreat [2] https://www.reuters.com/world/africa/shoprite-exits-ghana-malawi-part-african-retreat-2022-08-05/ [3] https://www.reuters.com/world/africa/tanzanias-tips-processed-nearly-double-what-it-did-2023-2024-2022-12-22/ [4] https://mest.co/mest-africa-announces-2026-ai-startup-programme-applications-are-now-open/ [5] https://www.fin24.com/Economy/Shoprite-to-exit-Ghana-Malawi-as-part-of-African-retreat-20220805 [6] https://www.reuters.com/business/energy/nithio-offers-flexible-financing-clean-energy-startups-kenya-nigeria-2022-07-12/ [7] https://www.techcrunch.com/2022/08/04/leon-kiptum-former-flutterwave-executive-passes-away-after-battle-with-cancer/ [8] https://www.reuters.com/world/africa/jse-considers-making-its-market-always-open-for-trading-2022-08-04/
- In light of the sale agreements, Shoprite is withdrawing from its operations in Ghana and Malawi, marking their sixth and seventh market withdrawals on the African continent.
- Despite these exits, Shoprite remains committed to its African roots and is expanding its business in South Africa, focusing on store count, delivery services, and new retail sectors.
- Meanwhile, Tanzania's central bank is actively shaping payment flows with digital public infrastructure, like the real-time digital payments network TIPS, aiming for inclusive growth.
- In the education sector, MEST Africa is offering training and incubation to West African software developers through its 2026 AI Startup Programme.
- In the clean energy sector, Nithio is offering flexible financing to startups in Kenya and Nigeria, supporting ventures such as solar home system providers and clean cooking businesses.
- The fintech industry recently mourned the loss of a prominent figure, Leon Kiptum, a former executive at Flutterwave, who passed away after a long battle with cancer. Venture capital and investment in fintech businesses are continuing to drive innovation and growth in the African financial ecosystem.
