Retail & Shopping Malls
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Jumia pulls the plug on Cameroon and Tanzania
On November 17th, pan-African internet retailer Jumia ceased operations in Cameroon. In a statement, the company said that “We came to the conclusion that our transactional portal as it is run today is not suitable to the current context in Cameroon.” Before the end of the month, it had also exited Tanzania. According to company
25th November 2019
Categories: SagaRetail News - Africa - Retail & Shopping Malls - Cameroon
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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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Under-pressure Tuskys seeks to avoid the fate of Nakumatt
Quoting unnamed industry sources, Kenyan website Standard Media reports that local supermarket chain Tuskys is seeking to raise KES1 billion (USD9.7 million) before the end of the year “to boost its working capital.” It added that Tuskys was doing this in order to be able to pay its suppliers more promptly and thus secure more
5th November 2019
Categories: SagaRetail News - Supermarkets - Tuskys - Carrefour - Retail & Shopping Malls
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Carrefour set to more than double its Ivorian store count
Website Africa Intelligence reports that CFAO is planning to open five new Carrefour outlets in Côte d’Ivoire. Four of these are to be located in Yopougon, the most populous of Abidjan’s ten communes, where CFAO opened a Carrefour Market within the Cosmos Yopougon mall late last year. It is likely that the new Yopougon stores
18th September 2019
Categories: SagaRetail News - Retail & Shopping Malls
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As new CEO takes the helm, Massmart’s sees modest growth in international sales
During the first six months of 2019, total sales at South Africa-based Massmart’s international stores rose by 6.4% (in constant currency terms), compared with the year-earlier period, to ZAR3.9 billion (USD264 million). Same-store sales rose by 2.4%. Total international sales increased by 11.8% in ZAR terms. International stores accounted for 8.9% of Massmart’s total sales
16th September 2019
Categories: SagaRetail News - Retail & Shopping Malls - South Africa
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Kenyan middleweights join forces to take on the big boys
Having acquired a majority stake in Tumaini Self Service Ltd. earlier this year, Sokoni Retail Kenya, which is controlled by private equity firm Adenia Partners, has now finalised a deal to take a majority stake in rival supermarket chain Quickmart from its founding family. The new entity will be called Quickmart, and all Tumaini stores
13th September 2019
Categories: SagaRetail News - Retail & Shopping Malls - Kenya
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South African retailers caught up in xenophobic backlash
A number of Shoprite and Pick n’ Pay outlets were among the South African businesses targeted by looters in Nigeria and Zambia during early September. Mobile communications provider MTN and clothing chain Pepkor were also affected. These attacks were triggered by xenophobic attacks on foreigners and foreign-owned businesses in Johannesburg that resulted at in least
12th September 2019
Categories: SagaRetail News - Retail & Shopping Malls - Nigeria - Zambia - South Africa
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Woolworths shuts two clothing stores and exits Ghana
Cape Town-based fashion retailer Woolworths closed its two outlets in Accra at the end of July. It opened its first Ghanaian store in 2002 and added a second 12 years later. Woolworths has not provided an explanation for this move, beyond stating that it followed “a comprehensive review of our operations in Ghana.” It added:
20th August 2019
Categories: SagaRetail News - Retail & Shopping Malls
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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