Having celebrated a decade of steady growth and expansion, Marketsquare is looking beyond its achievements to the opportunities that lie ahead. Founder and Chief Executive Officer of Sundry Markets Limited, Mr. Ebele Enunwa, discusses with journalists the significance of the company’s 10-year milestone, the strategic decisions that have driven its success, and how Marketsquare intends to shape the future of Nigeria’s organised retail sector through innovation, customer focus and sustainable growth. Bennett Oghifo reports
Marketsquare recently celebrated its 10th anniversary. Looking back, what does this milestone mean to you and to the organisation?
This anniversary is both a celebration and a moment of reflection. When we opened our first store in Yenagoa in 2015, we had a clear vision: to build a retail brand that would deliver world-class shopping experiences while remaining deeply rooted in the needs of Nigerian consumers. Ten years later, seeing Marketsquare grow into one of the country’s leading indigenous supermarket chains is immensely gratifying, but it is also humbling because this journey has only been possible through the dedication of our employees, the loyalty of our customers, and the trust of our partners. Reaching this milestone is particularly significant because it has been achieved against the backdrop of one of the most challenging business environments in recent history. We have navigated economic recessions, foreign exchange volatility, inflationary pressures, supply chain disruptions, and changing consumer behaviour. Yet, through resilience, innovation, and disciplined execution, we have continued to grow. For us, 10 years is not simply about longevity. It is evidence that Nigerian businesses can build enduring institutions that create value, generate employment, and contribute meaningfully to national development. It gives us confidence that our best years are still ahead of us.
When Marketsquare began operations, did you imagine it would grow to its current scale?
We always believed in the potential of the business because we believed in the potential of Nigeria. From the outset, our ambition was never to build just another supermarket chain. We wanted to create a retail institution that Nigerians could identify with; one that would consistently deliver quality, convenience, and value while contributing to the country’s economic growth. Did we anticipate every milestone? Probably not. Business growth is rarely linear, and every stage of our expansion came with new challenges and opportunities. What has remained constant, however, is our commitment to excellence.
Rather than chasing rapid expansion, we focused on building a strong foundation. We invested in systems, people, governance, and customer experience. Looking back, I believe that a disciplined approach has been one of the key reasons for our sustained growth.
What would you say has been the defining factor behind Marketsquare’s success over the past decade?
If I had to identify one defining factor, it would be consistency. In retail, customers make a choice every day. They return to businesses they trust; businesses that consistently deliver quality products, fair pricing, excellent service, and a pleasant shopping experience. Our philosophy has therefore been simple: never compromise on the customer experience. Beyond that, we have remained committed to building a strong organisational culture. We have invested in our people because motivated employees create satisfied customers. We have built lasting relationships with suppliers because a strong supply chain is fundamental to retail success. We have also embraced innovation where it improves efficiency and enhances the customer experience. Success is rarely the result of one big decision. It is usually the outcome of thousands of small decisions made consistently over time.
Marketsquare has expanded significantly over the years. What principles have guided your expansion strategy?
Our expansion has always been deliberate. Every new location is selected after careful analysis of customer demand, economic potential, accessibility, and long-term sustainability. We are not interested in opening stores simply to increase our numbers. Every store must strengthen our network and deliver value to the communities we serve. Another important principle has been inclusiveness. While major commercial centres remain important, we have also recognised the enormous opportunities that exist in emerging cities across Nigeria. Modern retail should not be limited to a few urban centres. Our objective has always been to make quality retail experiences accessible to more Nigerians, regardless of where they live.
What opportunities do you see for organised retail in Nigeria over the next decade?
The opportunities are enormous. Nigeria has one of Africa’s largest populations, a growing middle class, increasing urbanisation, and a youthful demographic that is embracing modern retail experiences. These fundamentals present tremendous long-term opportunities. At the same time, consumers are becoming more discerning. They expect greater convenience, wider product choices, digital integration, and a consistently high standard of service. Retailers that understand these changing expectations and continue to innovate will be well positioned for future growth. I believe organised retail still has significant room for expansion in Nigeria, and Marketsquare intends to play a leading role in that transformation.
Technology is reshaping the global retail industry. How is Marketsquare preparing for this future?
Technology is becoming central to every aspect of retail, from inventory management and supply chain optimisation to customer engagement and business intelligence. As part of our Vision 2030 strategy, we are making significant investments in digital transformation to improve operational efficiency and enhance the shopping experience. This includes leveraging data analytics to better understand customer preferences, exploring artificial intelligence to optimise operations and continuously upgrading our systems to improve service delivery. However, while technology is important, it should never replace the human element of retail. Our goal is to use technology to empower our people and make shopping easier, faster, and more enjoyable for our customers.
Marketsquare has consistently championed Nigerian suppliers and local manufacturers. Why is this so important to your business model?
Supporting local businesses is both a commercial strategy and a national responsibility.
The strength of our shelves depends on the strength of Nigerian producers. By working closely with local manufacturers, farmers, and SMEs, we are helping to build stronger supply chains while also creating opportunities for businesses to grow. When local businesses succeed, jobs are created, communities prosper, and the economy becomes more resilient. We see ourselves as partners in that ecosystem, and we will continue to expand opportunities for Nigerian suppliers to grow alongside us.
What leadership lessons have you personally learned over the past decade?
Perhaps the most important lesson is that leadership is about people. Strategy is important, but strategy only becomes meaningful when people believe in it and are inspired to execute it.I have also learned the importance of remaining calm during periods of uncertainty. Every business experiences difficult moments. What distinguishes successful organisations is not the absence of challenges but their ability to respond thoughtfully and remain focused on long-term objectives. Finally, I have learned that humility is essential. No leader has all the answers. Listening; to employees, customers, partners, and communities has been one of our greatest strengths.
As Marketsquare enters its second decade, what will define the company’s next chapter?
The next chapter will be defined by purposeful growth. We will continue expanding our footprint, but growth alone is not our objective. We want to deepen our impact by creating more jobs, strengthening partnerships with Nigerian suppliers, embracing innovation, investing in sustainability, and delivering even better experiences for our customers. Ultimately, our ambition is to build one of Africa’s most respected retail brands; one that is recognised not only for its commercial success but also for its contribution to society. Ten years have given us a strong foundation. The next ten years present an opportunity to build an institution that will endure for generations, and that is the journey we are now embarking upon.