By Desire Ayebazibwe,
Another multibillion retail supermarket, Massmart has announced its plans to exit the Ugandan market.
The giant South African retail supermarket with its stores at Lugogo by pass, popularly known as, Game Lugogo, is a parent company of Game Stores. It announced its closure on Friday, during the group’s virtual financial results presentation.
Game stores joins its peer Shoprite Holdings SHPJ.J which confirmed last month that it was pulling out of the Ugandan market over low returns.
The Johannesburg Security Exchange-listed company expects its move to result into an annual profit before interest and tax improvement of 750 million rand ($50.24 million).
Game is a promotionally driven discount retailer of predominantly general merchandise and non-perishable groceries for home, leisure and business use. Some Game Stores also stock a select range of fresh food, including fruit and vegetables, pre-packed meats and pre-baked goods.
The franchise which has been in the country for 17years (since 2004) operates in other 11 African countries including: South Africa, Nigeria, Zambia, Ghana, Malawi, Mauritius, Mozambique, Namibia, Botswana, Kenya and Tanzania.Follow Us on Social Media