South African retail giant, Game Stores, will officially close its doors on December 25, 2022 in their outlets spread across five countries.
In a notice over the same, Game Stores’ owners, Massmart said the firm will exit the Tanzania, Kenya, Uganda, Nigeria and Ghana after failing to get clients.
The firm said consultations over the reason of the store’s closure had been completed and a decision to permanently close down had been reached.
At the moment, Massmart said, it is set to initiate a process of clearing stocks in the affected stores in each of the five countries.
“We would like to thank our Game colleagues, customers and business partners for their loyal support during the years that we have operated in Nigeria, Ghana, Tanzania, Kenya and Uganda,” read the notice.
Game Store is not the first South African firm to exit the Kenyan market, in 2017, Tiger Brands sold its 51% stake in a venture in Kenya, marking the end of its interest in the country.
The company sold its majority shareholding in Haco Tiger Brands to its partner in the venture, the late Dr. Chris Karubi.
Tiger Brands CEO Lawrence Mac Dougall said the bulk of the venture’s business did not fit with the company’s plans.
“In addition to products manufactured and marketed by Haco under its own brands, the majority of Haco’s business lies in the manufacturing and distribution of products under licence
“This is not aligned with our current operating model which is premised on full ownership of leading FMCG brands,” Macdougall said.
Also, this comes a few months after Shoprite, another Southern African retailer, closed shop barely two years after launching operations in Kenya.
The firm cited underperformance of its supermarkets for the closure which was worsened by impacts associated with COVID-19.
