Justrite , the Nigerian supermarket chain founded by Ayodele Patrick Aderinwale and his wife, is set for a new step in its expansion as the International Finance Corporation IFC considers a naira-equivalent loan of up to 15 million to support the rollout of additional stores across the country.
The proposed financing, listed in IFCs investment pipeline, would help the retailer open 25 new outlets in an expansion set to take Justrite beyond its southwestern base. Since opening as a small neighborhood store in 2000, Justrite has grown into one of Nigerias most familiar homegrown retail brands, bringing organized retail to urban and fast-growing peri-urban communities that lack access to modern supermarkets.
Catalyzing a new phase of growth