New Lease of Life for Billionaire Businessman Tayo Amusan…to Buy Shoprite

Everything appears to be coming together for Tayo Amusan, the billionaire businessman and boss of the popular shopping mall on Victoria Island, Lagos, The Palms. After the many uncertainties that threatened his life and livelihood in 2020, Providence has pressed a reset button for the Lagos-based enterpriser—a reset button that guarantees a quantum leap in Amusan’s fiat and fortune.

The COVID-19 crisis of 2020 racked up the nerves of travelling business people all around the world. As one of the many reportedly infected with the virus, Tayo Amusan was the subject of many conjectures, many fears, and many prayers. But it all ended in happy tears, with Amusan hale and indescribably hearty. With recent developments, Amusan’s happiness is even more unquantifiable.

Based on new reports, Shoprite Holdings, managers of Africa’s most prominent retail establishment, is considering—as the company stated it—“the potential sale of all, or a majority stake, in Retail Supermarkets Nigeria Limited, a subsidiary of Shoprite International Limited”. In other words, ShopRite is going on the shelf for whichever Nigerian investor and business owner has the best qualifications to acquire it. Unsurprisingly, Tayo Amusan is at the top of this list.

The ShopRite story has been on popular demand by Nigerian investors, including those in the diaspora. For a multi-million-Naira company with over 2000 branches in other African countries, the acquisition offer is likely worth billions of naira. And Tayo Amusan just happens to be on top of it. But that is no surprise at all.

Amusan single-handedly established The Palms, the first mall in Nigeria that surpassed international standards according to legends. That was in 2004 when Amusan was only 43 years old. Now, the man is 60, has accumulated 17 years of constant business activity and related managerial experience. Who is a better fit for ShopRite in Nigeria than such a person?
As a side note, Amusan’s property development company, Persianas Nigeria Limited, is housing several outlets of ShopRite and is reportedly the only one out of the three competing investors that is all indigenous, without any foreign association or influence.
So yes, Amusan is on the go for a new breakthrough and lease of life.