Cote d’Ivoire
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Ivorian retailer seeks to remake the traditional market
Supermarkets continue their inexorable growth across much of sub-Saharan Africa (SSA), but some local entrepreneurs are attempting to hybridise this format with traditional markets to produce something that is uniquely African. The Prince Ebeano supermarket chain in Nigeria is one example of this, but Socofrais is taking the concept a step further in Abidjan, the
3rd December 2019
Categories: SagaRetail News - Retail - Supermarkets - Cote d'Ivoire
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Still burning cash, Jumia positions itself as an online bridge to Africa
Africa-focused internet retailer Jumia saw its revenue rise at an annual rate of 19.4% during Q3 2019, to €40.1 million, while its operating loss widened by 34.6%, to €54.6 million. Gross merchandise volume (the total value of orders, including those of third parties using its platform, before the deduction of any discounts or vouchers and
14th November 2019
Categories: SagaRetail News - Retail - Africa - Egypt - Retail & Shopping Malls - Ghana - Algeria - Cameroon - Cote d'Ivoire - Kenya - Nigeria - Senegal - Tunisia - South Africa - Ivory Coast
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CFAO opens a third cash and carry in Senegal
CFAO recently opened its third Supeco outlet in the Dakar suburb of Golf Sud. The banner debuted in the local market in April this year and a second store was added in September – both of which are also located in the Senegalese capital. Previously, CFAO had operated a single Carrefour Market in Senegal. It
6th November 2019
Categories: SagaRetail News - Supermarkets - Carrefour - Retail & Shopping Malls - Cameroon - Cote d'Ivoire - Senegal
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Middle Eastern investment to strengthen the logistical backbone of African retail
In a move that could make it easier for retailers operating locally to import stock, Agility Africa, a subsidiary of Kuwait-based logistics company Agility Public Warehousing Co., is planning to open warehouse parks in Abidjan, Lagos, and Maputo by mid-2020. Each of these facilities will cost around USD200 million. It is also considering projects in
8th October 2019
Categories: SagaRetail News - Cote d'Ivoire - Mozambique - Nigeria
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Retail Holding buys out partners in CDCI
Private-equity fund Amethis and Ivorian-Lebanese entrepreneur Yasser Ezzedine have sold their stakes (25% and 40%, respectively) in CDCI (Compagnie de Distribution de Côte d’Ivoire) to Morocco-based Retail Holding, giving the latter full ownership of the Ivorian chain. CDCI is the second-largest player in Ivorian grocery retail, behind Prosuma. Financial terms were not disclosed. In 2014, Retail Holding,
3rd October 2019
Categories: SagaRetail News - Retail - Supermarkets - Cote d'Ivoire
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Jumia crowds out smaller rivals in West African e-commerce
Yaatoo and Afrimarket have both thrown in the towel, reinforcing Jumia’s dominance of this nascent market. Côte d’Ivoire-based retailer Groupe Prosuma pulled the plug on Yaatoo, its e-commerce division. Doungnan Coulibaly, who led Yaatoo, told local media that Prosuma’s shareholders were not prepared to provide additional funding for the venture. Launched in 2016, Yaatoo has
19th September 2019
Categories: SagaRetail News - Retail - Cote d'Ivoire
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Retail Holding raises capital to expand and modernise Ivorian subsiduary
Morocco-based Retail Holding has raised MAD600 million (USD62 million) from the private placement of a five-year bond in order to consolidate its control of Ivorian wholesaler and retailer CDCI and fund its expansion and modernisation. This comes after reports in the Ivorian media earlier this year that CFAO (Carrefour’s franchisee in francophone West Africa, which
19th August 2019
Categories: SagaRetail News - Retail & Shopping Malls - Cote d'Ivoire - Morocco
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GBH raises its profile in Africa with Casino deal and Côte d’Ivoire entry
On July 22nd, Groupe Casino announced that it had agreed a deal to sell its Indian Ocean subsidiary Vindémia to GBH (Groupe Bernard Hayot) for €219 million. Vindémia operates hypermarkets, supermarkets, cash and carry outlets, and convenience stores in Reunion Island, Mayotte, Madagascar, and Mauritius – a total of 185 stores with a sales area
23rd July 2019
Categories: SagaRetail News - Retail & Shopping Malls - Cote d'Ivoire
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Prosuma’s new foodservice concept reflects growing popularity of deli counters in African supermarkets
During early July, Ivorian grocery chain Prosuma launched Snack & Go in the Casino 2 Plateau mall in Abidjan. A stand-alone venue selling such fare as sandwiches, pizza slices, soft drinks, and fresh juices, Snack & Go is a hybrid deli/fast-food concept and natural extension of the deli counters and in-store cafés that Prosuma already
15th July 2019
Categories: Foodservice - Retail & Shopping Malls - Cote d'Ivoire - Kenya
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Jumia’s losses narrow on strong sales growth
Gross merchandise volume (GMV) at Africa-focused internet retailer Jumia, which floated on the NYSE two months ago, stood at €240 million during the first three months of 2019, up 58% year-on-year. GMV is the total value of merchandise sold through its marketplace, including third-party sales. Adjusted EBITDA loss as a percentage of GMV narrowed from 19.8%
13th June 2019
Categories: SagaRetail News - Egypt - Retail & Shopping Malls - Cote d'Ivoire - Kenya - Nigeria