Meet Tayo Amusan, the Nigerian poised to take a big Shoprite piece

By OBINNA EZUGWU

More facts are emerging as to the shape of the business transformation processes that are presently going on at Shoprite Nigeria.

With the Nigerian officials of the global Shoprite business insisting that it is only an internal expansion process that is being undertaken, contrary to feelers from other sources, within and outside the country, that are still insisting that what is presently playing out is a divestment process that would see the business ultimately being transferred to new owners, observers say that this is one more business development that could yet reverberate with new and fresh angles in the preceding days and weeks.

Whichever way things turn out ultimately, at the moment, a source in the know of some of the goings on says that the prime Nigerian beneficiary of the process would very well be Persianas Nigeria Limited, a Nigerian property business and retail services chain run by Tayo Amusan.

BH checks reveal that Persianas was incorporated in 1990, essentially to develop luxury residential, retail, entertainment and hospitality centres as well as commercial developments in Nigeria. It is already engaged as one of the principal Nigerian partners and associates of the South African-originating retail business outfit.

Amusan had, at the onset deployed his early entrant advantage in the expanding Nigerian property and retail business scene, into building The Palms, a 45,000 square metre property that is located at the Lekki Peninsula in Lagos.

It is a sprawling mall-complex that encompasses 69 retail stores, among other facilities.

A well-heeled business player who reportedly serves on boards of several companies, including Garages Limited and Southern Petroleum Limited, Amusan, it was learnt would after fully taking over and consolidating the Shoprite business, subsequently go on to rebrand it as Jarra Nigeria.

To their credit, Amusan and his wife, Ayo have been playing on the Nigerian business stage for several years now, and sources say that they have been long consumed with a burning desire and ‘vision to grow the Nigerian retail sector at a steady pace.”

Proof of this is that Persianas is already very deeply enmeshed in the retail business in Nigeria, having built what is about the first mall of international standards in Nigeria in The Palms edifice. They also own three other malls that are located in Ibadan, Kwara and Enugu. A fifth complex is said to be under development and would soon be completed at the Federal Capital Territory, Abuja.

While Mr. Amusan busies himself with the property component of the business, the company’s retail arm, which is said to be principally run by Mrs. Amusan, had before now been credited as having reportedly launched several international franchises such as Hugo Boss, Puna and Lacoste in the Nigerian market space.

Indeed, as Director of Retail at Persianas, sources say that, going forward, Ayo who had previously also worked in budget and strategy at a London firm, and holds an MSc in Risk Management from Cass Business School, City University, London, would very likely be playing a quite active more visible public role in the emerging business complex at Shoprite.

Asked to explain the confusion in the transformation process as evidenced in the conflicting statements from Shoprite South Africa and Shoprite Nigeria, our source affirmed that there is indeed nothing really unusual in a fundamental sense.

‘This business is a South African business and the place to look to for direction is South Africa. As you can see, the South African sentiment as demonstrated in the bullish 11 percent spike in its share price at the JSE only moments after the notice came out that Nigeria and other African markets may be up for spinning should tell you where the aces are. And then of course the basic business fundamentals that had informed the South African position have not changed, or have they?’ He queried.