On Wednesday, South African retailer and wholesaler, SPAR Group, closed its distribution centre in Zimbabwe due to weak economic growth, according to Reuters. Graham O’Connor, the firm’s chief executive, said that it will now supply independent stores from South Africa.
“The economy was just too tough… payment issues, infrastructure issues, so it was better that we exited,” O’Connor told Reuters.
SPAR was founded in 1932 by Adriaan van Well. It has since grown to have approximately 12,500 stores in 35 different countries. It opened in Zimbabwe in 1969 and, by Q4 2015, had 27 stores generating about € 103 million.