S.Africa's Truworths exits Nigeria due to import curbs - CNBC Africa

S.Africa's Truworths exits Nigeria due to import curbs

Southern Africa

by Reuters 0

High rentals pushes Truworths out of its Nigerian business. PHOTO: ProteaGlenMall

South Africa's Truworths has pulled out of its Nigerian business due to high rentals and import restrictions, its chief executive said on Thursday.

"We were unable to operate the stores properly any longer because we were unable to send merchandise to the stores because there's regulation preventing that," Michael Mark told Reuters in telephone interview.

Truworths ran two stores in the oil-producing west African country.

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