Shoprite A bit of local colour
More action up north from the Big Red One. Shoprite, we are reliably informed by the Nigerian press, is part of a consortium which includes Walmart and Nigeria’s very own Topright Ventures, which will shell out $500million US for the construction of a mall in Owerri, the Imo state capital. It’s all tied up in politics, as far as we can tell, but not in a bad way, as far as we can tell. Ex-senator Annie Okonkwo (that’s a him) is a major stakeholder in Topright, and Imo Governor Rochas Okorocha has been abroad furiously canvassing for investment in the presumably once-beleagured region, whose new roads, schools and hospitals are now rendering it attractive to FDI.
Comment: Shoprite and Walmart, eh? In keeping, we suppose, with the old double whammy strategy where a Game and a Shoprite would anchor an African mall firmly to the rich red soil of the mother continent.