Sectors
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The latest KFC Index shows that Southern African currencies remain the continent’s most undervalued
The Zimbabwean dollar (ZWD) is currently the most overvalued currency in Africa, according to Sagaci Research’s KFC Index for Q2 2020, which is based on data collected during June. The index utilises the price of KFC chicken buckets in different countries to estimate US dollar (USD) exchange rates for African currencies. These “implied” rates are then
10th July 2020
Categories: Foodservice - Swaziland - Blog - Egypt - Ghana - Uncategorised - Botswana - Cote d'Ivoire - Gabon - Kenya - Morocco - Nigeria - Rwanda - Senegal - Tanzania - Tunisia - Uganda - Zambia - Zimbabwe - South Africa
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Hard discounters capitalise on Covid-19 to gain market share
Supeco, Carrefour’s hard discount format, is thriving in francophone West Africa, according to local franchisee CFAO. “Our Supeco format exploded with Covid-19,” Jean-Christophe Brindeau, general manager of CFAO Retail, told website Jeune Afrique recently. CFAO franchises the Carrefour and Supeco banners in Senegal, Côte d’Ivoire, and Cameroon. “In these stores, average monthly turnover has risen
3rd July 2020
Categories: SagaRetail News - Carrefour - Supeco - Côte d'Ivoire - CFAO - Retail & Shopping Malls - Angola - Cameroon - Senegal
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As Tuskys flounders, three of its rivals open new stores
Tuskys may be struggling, but its smaller rival Quickmart continues to expand rapidly in Nairobi. Meanwhile, Carrefour and Chandarana Foodplus also opened new outlets during June. The Competition Authority of Kenya initiated an investigation into Tuskys after it fell behind on supplier payments (according to media reports, it owes them KES1.3 billion – USD12.1 million),
30th June 2020
Categories: SagaRetail News - Retail - Supermarkets - Africa - Shoprite - Carrefour - Supermarket - Quickmart - Retail & Shopping Malls - Kenya
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How is Covid-19 impacting Kenyans?
A SagaPoll survey conducted online in Kenya during May has found that almost two-thirds of respondents were “extremely worried” by Covid-19, with more than half fearful of a decline in their income. A third said they had skipped meals, while another quarter said they were eating less. Meanwhile, economic uncertainty has driven a sharp decline
26th May 2020
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Jumia sees its number of active users jump by half
The number of annual active consumers (those who have made a purchase during the prior 12 months) using Jumia increased at an annual rate of 51% during the first three months of 2020, to 6.4 million, according to the online retailer’s latest quarterly report. The total number of orders it received rose by 28% year-on-year
15th May 2020
Categories: SagaRetail News - Retail - Supermarkets - Africa - Naivas - Carrefour - Internet retail - Consumer - Retail & Shopping Malls
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A shopping revolution: Covid-19 is a catalyst for e-commerce in Africa
Even before the current crisis, interest in online shopping was on the rise in Africa, albeit from a very low base. As recently as December 2019, a Sagaci Research survey found that 12% of Nigerian consumers had used the internet to shop online during the previous four weeks. In Kenya and Tanzania, this figure stood
14th May 2020
Categories: Blog - Retail - Supermarkets - Africa - Consumer - Retail & Shopping Malls - Angola - Uncategorised - Cote d'Ivoire - Kenya - Nigeria - Senegal - Zambia
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Edcon becomes the first major African retail casualty of Covid-19
South Africa-based Edcon Holdings Ltd., the parent of apparel and homewares retailer Edgars, revealed on April 29th that it was planning to enter voluntary business rescue, a form of bankruptcy protection. Founded in 1929, Edcon is one of the largest non-food retailers in Africa, operating more than 1,000 stores, including more than 20 in sub-Saharan
8th May 2020
Categories: SagaRetail News - Africa - Retail & Shopping Malls - South Africa
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Massmart reports buoyant international sales in Q1, but Covid-19 will hit sales of durable goods hard
South African retailer Massmart’s international sales rose by 4.5% year-on-year in constant-currency terms and 5.0% in ZAR terms during the 13 weeks to March 29th, 2020. Comparable- or same-store sales increased by 4.4% and 3.5% in constant-currency and ZAR terms, respectively, over the same period. Massmart operates 30 stores under the Game banner in 11
6th May 2020
Categories: SagaRetail News - Supermarket - Massmart - Retail & Shopping Malls - Ghana - Nigeria - South Africa
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Shoprite closes Nairobi supermarket, as Covid-19 restrictions hammer mall foot traffic
South African retailer Shoprite has closed a supermarket in Nairobi’s Waterfront mall due to a significant decrease in foot traffic arising from the Covid-19 outbreak, which has seen a dusk-to-dawn curfew imposed in Kenya. Shoprite entered the Kenyan market in December 2018, and the closure of its Waterfront store leaves it with three outlets in
21st April 2020
Categories: SagaRetail News - Retail - Shoprite - Retail & Shopping Malls - Angola - Kenya - Nigeria
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Jumia sees surge in demand due to Covid-19 but grapples with logistical issues
According to pan-African internet retailer Jumia, Covid-19 has led to a surge in demand, particularly for FMCG, while also posing supply-chain challenges. It also revealed that its two co-founders and co-CEOs, Jeremy Hodara and Sacha Poignonnec, have taken a temporary 25% pay cut for the duration of the crisis. In a letter to shareholders, Jumia
20th April 2020
Categories: Foodservice - SagaRetail News - Retail - Supermarkets - Consumer - Sagaci Insights