Having opened its third store in Ghana, new entrant Shop n Save has outlined its plans for an aggressive expansion of its store network. The new store, on the busy N4 highway in Adenta, is the company’s largest store and flagship supermarket. The company invested US$3m in the new store. It is targeted at unserved upper middle class consumers in the Accra suburbs of Adenta, Madina, Ashaley Botwe, Abokobi and Haatso. Shop n Save estimates its customer base to be around 341,000 people.
Shop n Save is a joint venture with the Finatrade Group founders, which operates as West Africa Retail Chain Limited. In 2014, UK asset management firm Duet Group announced that it has invested growth capital of US$50m in Ghana to buy a majority stake in Shop N Save and tomato paste manufacturer firm GNFoods.
