ShopRite To Close Shops In Malawi

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Unconfirmed reports are indicating that ShopRite is closing all of its shops in the country this year.

According to inside sources, the decision has been reached following a failure to replenish stock due to forex shortage in the country.

Zomba and Limbe shops are said to be closing this month of August.

Lilongwe and Mzuzu shops will be closing October while the last one will be Chichiri Shoprite closing in November.

The development has attracted mixed reactions from Malawians on social media as some are in support of the idea claiming it will give room to local investors to showcase their farm produce.

One economic professor Betchani Tchereni described the development as not disturbing in any way.

“Rumors that some South African chain store may close shop in Malawi is not disturbing to me, in fact it is just a manifestation of the unstainable business model it has been running. This has been largely expected given the forex situation. They are an unnecessary drainer of forex for commodities we can insist on producing for import substitution in Malawi,” he said.

He added; “This is where Minister of Trade and Industry doesn’t need those suits and neckties, it’s no longer a boardroom matter this one. It’s for foot soldiering. We must have factories producing those commodities in Malawi. That’s a model that will be sustained. I’m sure the producers of those commodities will notice the slamp in demand, let them bring their subsidiary factories in Malawi and produce right here. Reporting their profitability in Malawi Kwacha. Apo bi, it is our duty as Malawians to get down to earth and start manufacturing.”

“As long as we continue with the Malawi Kwacha and dependency on subsistence farmers for foreign exchange generation, there won’t be any import business that will be sustained in Malawi. It is time we stopped all cosmetic survival means and pretend no more. Short-termism won’t take us anywhere.”

Others are worrying that the closure of the shops will affect the country economically.

However, other reports indicate that ShopRite is closing all its shops in Africa not only in the country.

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Flora Mitumba
Email: info@faceofmalawi.com

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