Gold Locker: Bank on Value in the Mind of Partners and Competitors – Shoprite Nigeria

Gold Locker: Bank on Value in the Mind of Partners and Competitors – Shoprite Nigeria

Business is the art of communication, but 90% of the time, it is expected to return money. In a situation where a pure water hawker is no longer making money on Lekki bridge, he usually moves to Mushin bridge, and maybe add one or more products, such as Gala to attract diverse customers. 

If he notices that the bowel of water is becoming too heavy to include Gala, he tries to cooperate with an independent Gala seller. That is how so many ventures started, and is surviving sustainably.  Facebook is sitting on global fire, but they have extended their hand to Indian Gala (Jio).

What am I driving at; Shorprite maybe leaving Nigeria, maybe their Gala partner is no longer making profit riding with them, or their business model is not an all round bundle, where there are many options to make profit.  Naira devaluation may have contributed to their exit, but what about using their already thriving name to enter into business such as Real Estate Development in Nigeria. Must people come to their outlet before they make money? COOPERATE WITH YOUR GALA SELLERS, NIGERIA IS STILL A GOOD MARKET, if you pay closer attention.

  1. Register for Tekedia Mini-MBA (Feb 6 – May 6 2023) here. Discounted price is N60,000 or $140 by Feb 6; price rises afterwards.
  2. Join Tekedia Capital Syndicate and own a piece of Africa’s finest startups here.
  3. Explore Tekedia Investment and Portfolio Management program here.

Dear Nigeria government

Your gold locker is going empty, and soon it will be filled with stones, if care is not taken. Bank on value in the mind of your partners (Entrepreneurs, Startups and Investors) now, give them a place to thrive and make you proud, if they make money, your name will be golden on international journals and even return you with more money through multiple investments, and taxes. Do not be in a rush to grab all the money immediately. Cultivate on long-term value, at least for the future purpose.

Try to leverage the provisions of competition, learn from your co-countries, if Nigeria is farming White Rice and can not produce Red Rice, but Ghana can produce Red rice, then exchange your expertise and do better, because soon your neighboring countries may become the investors favorite ground, and you won’t even have the taxes any longer. YOU DON’T WANT THAT TO HAPPEN. It is already happening, even the Little thing from Kenya is spanning to Ghana, and not Nigeria. What are we even still doing!

One Question:

If Naira currency is stable today, won’t it benefit the politicians and everybody home and abroad? 

The dollar you stocked abroad, if the host country insist everybody should take their money home, do you think it will have value just because of the number it will multiply into.. No nah. The paper count is not the value, it is how many businesses that are thriving in your country that will give your money value. Think of it this way: Able, Dangote is at risk of exiting the world billionaire board, not because he is not gathering a lot of Naira, but because the Naira has no value even compared to nearby countries. I am shy for you (Nigeria government) please.

Hello Shoprite Nigeria: We do not want you to leave, for real.. a lay man appreciate the fine fine chops and modern packages in your counters, but listen to this;

A piece from Inc “Customer trust is hard to win and easy to lose,” writes Bezos. “When you let customers make your business what it is, then they will be loyal to you–right up to the second that someone else offers them better service.” by Jeff Bezos the Founder CEO of Amazon.

This is the Gold locker for many businesses; I do not know how Shoprite operates in Nigeria, but I do like to ask, was your business plan allowing the customers to suggest for you on how to thrive in the unplanned economy of Nigeria? Or were you wholesomely operating on a big man level.

If all the food propagators platforms leave the country, will stay, and thrive, because we will work with our village heads, Ote Nkwu (Palm wine tapper), and Mama Nkechi (Street vendors) to give them more customers with ego igwe (dollar and pounds).

Let me say: the world is somehow turning to Our Own! Our Own!, and I hope this doesn’t go as far as building walls around all nations. Then any war will be like a game, one fence to another. Do not allow this to happen. odikwa risky.

Great job so far, Shoprite in Nigeria, you have served Nigeria very well, and we hope you thrive in many other regions. The market is too large for one entity to eat the entire cake. Go into the world and multiply!

Share this post

Post Comment