THE WHAT? South African retailer, Shoprite has announced that it is closing its operations in the Democratic Republic of Congo, according to a report published by Reuters.

THE DETAILS Shoprite operates three stores in the DRC. The South African retailer is said to have conducted a review of its long-term options in Africa. It operates some 2,800 countries across the continent.

THE WHY? The move is part of Shoprite’s long-term strategy to focus more on its South African market and move from ownership to a franchise model. It has also pulled out of Nigeria, Kenya, Uganda and Madagascar, Reuters reports, as its expansion plans are hit by inflation, currency volatility and high import taxes.