Business Exodus From Nigeria Won't Last, Billionaire Wiese Says [BNN Bloomberg (Canada)]
SHOPRITE HLDGS LTD S/ADR (SRGHY)
NASDAQ:AMEX Investor Relations:
shopriteholdings.co.za/investor-centre.html
Company Research
Source: BNN Bloomberg
“How do you ignore an economy like this?” said the former chairman of Shoprite Holdings Ltd., the continent's largest grocer which left Nigeria in 2021. “Sooner or later the big players will enter again.” In December Procter & Gamble Co. also ditched Nigeria, with at least three other global conglomerates in recent months announcing they are exiting Africa's most populous nation, and second-biggest economy. Many African countries, like Nigeria, developed as single-commodity economies which has meant that when the price of that product falls, the currency and consumer spending take a hit, making it difficult for foreign investors to get a return. “Most foreign investors, including South African investors, I think have adopted an attitude when it comes to Nigeria that it's too early,” Wiese said. “We've got to wait for things to settle, for the economy to develop more and then for governments that adopt the correct policies.” ©2024 Bloomberg L.P.
Show less
Read more
Impact Snapshot
Event Time:
SRGHY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
---|---|---|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
Last Price | ||
VWAP | ||
High:
|
Max Up |
High:
|
Low:
|
Max Down |
Low:
|
%
|
Post news range |
%
|
|
Price change |
|
|
Price Change Percentage |
|
|
S&P 500 (SPX) |
|
%
|
Volume ratio |
%
|
Volume | ||
Ticks | ||
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
SRGHY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
SRGHY alerts
High impacting SHOPRITE HLDGS LTD S/ADR news events
Weekly update
A roundup of the hottest topics
SRGHY
News
- Shoprite's clothing chain UNIQ plans more stores, local sourcing [Reuters]Reuters
- South Africa's SPAR steps up battle for affluent and discount shoppers [Reuters]Reuters
- Spar of South Africa to Focus on Home Market After Poland Exit [BNN Bloomberg (Canada)]BNN Bloomberg
- Africa's Largest Grocer Boosts Sales by Avoiding Price Increases [BNN Bloomberg (Canada)]BNN Bloomberg
- South African Shoprite Billionaire Wiese Returns to His Diamond-Hunting Roots [BNN Bloomberg (Canada)]BNN Bloomberg