Carrefour, one of the largest retailers in the world will open its first store in Uganda this year, expanding in the region after a successful launch in East Africa’s Economic Power house– Kenya, the Dubai-based operator of the French retailer’s outlets said on Tuesday.
The company plans to enter as many as five markets in the next four years, country manager Franck Moreau said early this year.
Majid al Futtaim (MAF), a United Arab Emirates-based mall developer that holds Carrefour franchise rights in 37 countries, opened its first store in Kenya in 2016, securing rapid growth in a country where just 30 percent of retail transactions take place on the formal market.
MAF has already secured space at a large mall in Kampala and has hired 150 workers ahead of the launch of the store, said Hani Weiss, CEO of MAF Retail in a statement.
“This announcement brings us a step closer towards realizing our long-term expansion plan for East Africa. Uganda is considered one of the fastest growing economies in Africa,” Weiss said.
A second store in Kampala will be opened early next year, he said.
MAF operates in 15 countries. It entered Kenya in 2016 and has since grown the number of Carrefour stores it operates to seven, at a time when rivals including closely held Nakumatt and Uchumi Supermarkets have been forced to close outlets to cut debt.
The company also sees opportunity for its partnership with online retailer Jumia Technologies, which MAF is using to offer express deliveries.
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