Sectors
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One Tunisian mall nears completion, while another will break ground soon
The Ben Salem brothers, owners of Tunis-based Indigo Co. (the local franchisee for such retail brands as Zara, Mango, Massimo Duttti, and Celio), are set to break ground on Tunis Garden City mall before the end of this year. The mall will have a gross leasable area (GLA) of 60,000m2 and be accompanied by a
20th May 2019
Categories: SagaRetail News - Retail & Shopping Malls - Tunisia
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Ghana and Nigeria next up for Glovo, as supermarket deliveries drive growth in Abidjan
Having received €150 million in a recent funding round, Spanish delivery company Glovo is now targeting additional African markets. It has commenced operations in three African countries (Morocco, Kenya, and, most recently, Côte d’Ivoire) over the past 12 months and is seeking to expand into Ghana and Nigeria before the end of this year. Supermarket
15th May 2019
Categories: Foodservice - SagaRetail News - Retail & Shopping Malls - Ghana - Cote d'Ivoire - Nigeria
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Burger King edges into the black in Morocco
After seven years of operations, Burger King’s franchisee in the Morrocan market has recorded a profit for the first time. According to local media reports, this amounted to “a few million dirhams” (one million dirhams equals just over USD100,000). Burger King had sales of MAD110 million (USD11.4 million) in Morocco during 2018, up 5.8% on
14th May 2019
Categories: Foodservice - SagaRetail News
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Pick n Pay reports profit decline in sub-Saharan markets
Pick n Pay’s annual report for the 12 months to March 2019 shows that the margins of its stores in sub-Saharan Africa have narrowed. The South African grocery retailer has outlets in six southern African countries: Botswana, Lesotho, Namibia, Swaziland, Zambia, and Zimbabwe. In spite of what it described as “economic challenges” (particularly in Zambia
2nd May 2019
Categories: SagaRetail News - Lesotho - Swaziland - Retail & Shopping Malls - Botswana - Zambia - Zimbabwe - South Africa - Namibia
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CFAO brings Carrefour’s Supeco banner to sub-Saharan Africa
On April 27th, CFAO (Carrefour’s regional franchisee) brought the hard-discount Supeco banner to West Africa, opening a store in a former cinema in the Senegalese capital of Dakar. This marks the beginning of the strategic shift towards smaller stores and lower-income consumers that CFAO Retail CEO Jean-Christophe Brindeau spoke of in January (see our previous
30th April 2019
Categories: SagaRetail News - Retail & Shopping Malls - Ivory Coast
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MAF unveils ambitious growth plans for Carrefour banner in Egypt
UAE-based Carrefour franchisee Majid Al Futtaim (MAF) is ramping up its presence in Egypt. In April, it unveiled ambitious plans to open 20 new stores by the end of this year, which would bring the total number of Carrefour stores in this market to 60. In the longer term, it is planning to increase the
30th April 2019
Categories: SagaRetail News - Egypt - Retail & Shopping Malls
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Tumaini to open two new stores in Nairobi
Tumaini Self Service Limited is set to open two new supermarkets in Nairobi this week, which will bring its total number of stores to 12, with eight of these in Nairobi. Private equity firm Adenia Partners acquired a controlling interest in Tumaini late last year (see our previous story). The new stores will be located
26th April 2019
Categories: SagaRetail News - Retail & Shopping Malls
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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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Mastercard jumps on the Jumia bandwagon
In spite of the fact that it is heading towards an IPO (see our previous story), internet retailer Jumia is set to receive a USD50 million investment from payment services provider Mastercard in a private placement. Mastercard will also partner with Jumia to help the latter “grow its operations.” While details of their collaboration were
8th April 2019
Categories: SagaRetail News - Retail & Shopping Malls
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Sagaci in the news: African retail investment to shift towards secondary cities
Charles Ballard, head of retail and real estate at Sagaci Research, recently spoke to asset management firm Anaxago about the commercial real estate market in Kenya. “In Nairobi, there are now more than 60 shopping malls, and the market is beginning to look saturated.” he observed. “The problem in dynamic cities like Nairobi is no
5th April 2019
Categories: SagaRetail News - Retail & Shopping Malls