Shoprite’s planned exit creates opportunity for Market Square

Market Square

Market Square, for now, has 12 stores around Nigeria and is the new anchor tenant for the Tropicana Mall, Uyo, Akwa Ibom State, after Shoprite withdrew their interest.

The planned exit of the South African retail giant, Shoprite, from Nigeria has created a big benefit for Market Square, a fast-growing indigenous retail chain in the country.

Market Square is the new anchor tenant for the Tropicana Mall, Uyo, Akwa Ibom State, after Shoprite withdrew their interest, apparently because of their planned exit from Nigeria.

The Tropicana Mall, the first in the oil-rich state, is set for opening on December 1.

It is the first time Market Square would be an anchor tenant in a mall, a major milestone in their quest for some chunks of the multi-billion dollar retail market in Nigeria.

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“This is our first mall involvement, we have been running stand-alone (retail outlets)” Emmanuel Isangidiok, the marketing manager of Market Square, told Premium Times during the inaugural meeting of the mall tenants last Thursday in Uyo.

“We are very excited to be here in Uyo,” Mr. Isangidiok added.

“You know, in a mall set-up, we have a lot of people come in for a lot of things, there are a lot of customers visiting a mall which is an added advantage for us. For us, we also deal with numbers,” he said.

Market Square, for now, has 12 stores around Nigeria – seven in Port Harcourt, one each in Enugu, Benin City, Owerri, Yenagoa, and Aba.

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Olumide Akinsanya, the CEO of Median Infrastructure Company Development Ltd, a major investor in the revamping of the hitherto moribund Ibom Tropicana Entertainment Centre, Uyo, expressed confidence in Market Square’s capacity to bring about a new shopping experience for the people in Akwa Ibom State.