News

  • East Africa’s largest supermarket chain prepares to go public

    Tuskys, which operates more than 60 stores in Kenya and Uganda and has overtaken the faltering Nakumatt to become the region’s largest retailer, is planning to list on the Nairobi Stock Exchange (NSE) this year. “We will definitely join the main market segment. Two weeks ago, we entered an incubation period with the NSE. This

    Categories: SagaRetail News - Retail & Shopping Malls - Kenya

  • The quickening pace of retail modernisation in Kenya

    Family-owned Quickmart opened its tenth outlet (and the first to open 24 horus a day) in Valley Arcade in the affluent Nairobi suburb of Lavington during January. “This area is populated by high-income shoppers who require the flexibility of shopping at any time,” Betty Wamaitha, head of marketing at Quickmart, told local media. The store

    Categories: SagaRetail News - Retail & Shopping Malls - Kenya

  • Angola remains Shoprite’s sore spot

    Shoprite has reported that sales (denominated in South African rand – ZAR) in its supermarkets outside of its native South Africa plunged 13.3% year-on-year during the second half of 2018. In constant currency terms (excluding the effect of foreign currency fluctuations), they were flat – rising by 0.1%. Angola, a petro-economy wracked by weak oil

    Categories: Retail & Shopping Malls - Angola - Nigeria - Zambia

  • Troubled retail group Edcon gains some breathing space

    Johannesburg-based Edcon Holdings Ltd., which operates the Edgars chain of clothing stores, has been given approval by its creditors to implement a recapitalisation plan. The bulk of the company´s 1,500 stores are in South Africa, but it has 169 outlets in other African markets, including Botswana, Ghana, Mozambique and Zambia. The 89-year-old company was acquired

    Categories: SagaRetail News - Retail & Shopping Malls

  • CFAO pivots from hypermarkets to hybrid-markets in West Africa

    Multinational conglomerate CFAO has brought the Carrefour brand to Senegal, opening a 1,800m² Carrefour Market in Dakar, what head of CFAO Retail Jean-Christophe Brindeau described as a “soft launch.” Brindeau also signalled a shift in CFAO’s West African strategy away from hypermarkets and towards a new hybrid banner. CFAO is planning to bring the Supereco

    Categories: SagaRetail News - Retail & Shopping Malls - Ghana - Cameroon - Cote d'Ivoire - DR Congo - Gabon - Nigeria - Senegal

  • Choppies faces fire and fury in Zimbabwe

    January has been an eventful month for the Botswanan supermarket chain in one of its most important international markets. Riots sparked by the government’s January 12th announcement that it was more than doubling the retail price of fuel saw nine Choppies outlets in Harare and Bulawayo looted, with four of these extensively damaged by fire.

    Categories: Retail & Shopping Malls - Zimbabwe

  • Pernod Ricard takes a swig of Jumia

    French alcoholic drinks group Pernod Ricard has acquired an unspecified stake in Africa-focused internet retailer Jumia. Terms have not been disclosed. Jumia is owned by Rocket Internet, MTN, AXA, Goldman Sachs, Orange and CDC, and, as previously discussed, it likely to have an IPO this year. Pernod Ricard owns such brands as Absolut Vodka, Beefeater

    Categories: SagaRetail News - Consumer - Retail & Shopping Malls - Ghana - Kenya - Nigeria

  • Another international player enters the Kenyan grocery retail market

    The takeover of supermarket chain Tumaini Self Service Ltd. by Sokoni Retail Kenya was approved by the Competition Authority of Kenya in December, adding to the list of international players (including Carrefour, Choppies and Shoprite) jostling for a piece of the local market. Sokoni Retail Kenya is an investment vehicle of private equity firm Adenia

    Categories: Retail & Shopping Malls - Kenya

  • Nairobi’s mall boom sets the stage for fierce supermarket struggle

    The Waterfront mall opened in Nairobi on Jamhuri Day (Kenyan independence day – December 12th). With close to 18,600m² of GLA, the 20 hectare site boasts more than 1,000 parking spaces, a 14,000m² artificial lake and a 1.2km running and walking track. With these leisure facilities and regular cultural events, management are clearly hoping to

    Categories: Retail & Shopping Malls - Kenya

  • Burger King sees “huge opportunity” in African markets

    Burger King parent company Restaurant Brands International (RBI) has revealed that it is in talks with potential franchisees with a view to expanding its presence in sub-Saharan Africa. According to Daniel Schwartz, CEO of RBI, the fast-food chain is “significantly under-penetrated” on the continent and has a “huge opportunity” to grow. José Cil, president of

    Categories: Foodservice - SagaRetail News - Consumer - Nigeria