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
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Choppies boardroom coup fuels nervousness among suppliers
Mired in an accounting scandal, supermarket chain Choppies suspended CEO Ramachandran Ottapathu last week, but this move does not seem to have gone done well with some of its suppliers, amid media reports of empty shelves in some of its outlets. Botswana-based Choppies operates around 250 stores across eight sub-Saharan countries, and Ottapathu, who has
28th May 2019
Categories: SagaRetail News - Retail & Shopping Malls - Botswana - Kenya
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Rwandan café chain Brioche opens “on-the-go” outlets in service stations
Rwandan café chain Brioche has partnered with Société Pétrolière Ltd (SP) to create a coffee shop concept for the latter’s chain of service stations. Brioche currently operates four outlets in the capital Kigali, as well as two in Nairobi. The first two of these franchised outlets have opened at SP’s Nyarugenge and Gikondo outlets. According
23rd May 2019
Categories: Foodservice - SagaRetail News - Retail & Shopping Malls - Kenya - Rwanda
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MAF sees Kenyan Carrefour sales soar and eyes new markets
UAE-based Carrefour franchisee Majid Al Futtaim (MAF) saw its Kenyan sales rise by 71% during 2018, to AED506 million (USD137.8 million). MAF currently operates seven stores (six hypermarkets and one supermarket) in Nairobi. Nairobi’s eighth Carrefour store (another hypermarket) is due to open later this year in the premises formerly occupied by Nakumatt along the
9th April 2019
Categories: Egypt - Retail & Shopping Malls - Kenya - Uganda - South Africa
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Ghanian healthcare upstart to acquire Kenyan pharmacy chain
Ghanaian start-up mPharma is set to gain a controlling interest in Kenyan pharmacy chain Haltons in an unusual deal – fledgling startups are usually acquired by established businesses, rather than vice-versa. Halton’s was founded in 2007 and currently operates around a dozen outlets, most of which are located in Nairobi. Founded in 2013, mPharma aims
4th April 2019
Categories: SagaRetail News - Ghana - Pharmaceuticals - Kenya
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Vivo Energy accelerates its drive into non-fuel retail
Vivo Energy, which is based in the Netherlands and (following its recent 2019 takeover of Engen) now operates more than 2,000 service stations in 23 African countries, continues to expand its presence in non-fuel retail. During the first half of 2018, non-fuel retail accounted for 5% of its gross cash profit (USD10.9 million, up 22%
18th March 2019
Categories: SagaRetail News - Retail & Shopping Malls - Ghana - Kenya - Morocco - Namibia
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Jumia IPO gives a peek under the hood of African e-commerce
As had been widely anticipated (see our previous story), Jumia is to list on the New York Stock Exchange. Founded in 2012 by Berlin-based Rocket Internet (which currently holds a 20.6% stake), Jumia is part-owned by telecommunications companies MTN (29.7%) and Millicom International Cellular (9.6%), insurance company AXA (5.8%), and alcoholic drinks giant Pernod Ricard
14th March 2019
Categories: SagaRetail News - Consumer - Egypt - Retail & Shopping Malls - Ghana - Algeria - Cameroon - Cote d'Ivoire - Kenya - Morocco - Nigeria - Rwanda - Senegal - Tanzania - Tunisia - Uganda - South Africa - Ivory Coast
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Massmart reorients growth efforts towards East Africa and Zambia
South African retailer Massmart, in which Walmart holds a majority stake, intends to open 47 new stores by 2021, with about a third of this space to be located outside of its domestic market. According to CEO Guy Hayward, “Zambia and East Africa are interesting to us because they’re not totally dependent on mineral resources
7th March 2019
Categories: SagaRetail News - Kenya - Zambia
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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
15th February 2019
Categories: SagaRetail News - Retail & Shopping Malls - Kenya
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The quickening pace of retail modernisation in Kenya
Family-owned Quickmart opened its tenth outlet (and the first to open 24 hours 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
11th February 2019
Categories: SagaRetail News - Retail & Shopping Malls - Kenya