News
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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
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Inflationary tailwind boosts margins at Zimbabwean supermarket chain
Grocery retailer OK Zimbabwe recorded sales of ZWL802 million (USD399 million at the, artificially high, official exchange rate) during the 12 months to March 2019, up 37.6% on the year-earlier period. EBITDA also rose strongly, to ZWL76.8 million, giving it an extremely healthy EBITDA margin of 9.6%. The business that eventually became OK Zimbabwe opened
16th August 2019
Categories: SagaRetail News - Zimbabwe
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Tuskys talks up its growth prospects, but can it deliver?
Kenyan supermarket chain Tuskys plans to grow its store network by franchising its banner to independent retailers and opening more outlets in Shell service stations. Already the largest grocery retailer in East Africa (at least in terms of store numbers) since the precipitous decline of Nakumatt, Tuskys currently operates more than 70 outlets in Kenya
14th August 2019
Categories: SagaRetail News - Retail & Shopping Malls - Kenya - Uganda
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FX-woes continue to weigh on Shoprite’s turnover in sub-Saharan Africa
South Africa-based Shoprite, the largest supermarket chain in sub-Saharan Africa (SSA) with more than 400 outlets in 14 countries (excluding its domestic market), saw sales in these markets decline by 7.7% during the 12 months to June 2019. However, in constant-currency terms, they rose by 0.9%. Against a background of hyperinflation and currency depreciation, Angola
6th August 2019
Categories: SagaRetail News - Consumer
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“French” Tacos – the fast food taking Morocco by storm
French tacos have emerged as a trend in Moroccan fast food over recent years. “Tacos are ubiquitous in Rabat – the snack can be found in every quarter of the city,” website Moroccan World News recently reported. Rather than the meat (or seafood), tomatoes, and cilantro typically found in a Mexican taco, French tacos are filled
5th August 2019
Categories: Foodservice - SagaRetail News
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Private equity funds acquire stake in Tunisian hard discounter
Mediterrania Capital Partners and Ekuity Capital have acquired a stake in Tunisian hard discounter Aziza. Founded by Groupe Slama in 2014, Aziza has expanded rapidly and currently has around 250 outlets, a total sales area of 70,000m2, and more than 2,000 employees. The financial terms of the transaction have not not disclosed. Like Turkish hard discounter
30th July 2019
Categories: Uncategorised
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MAF’s latest Egyptian mall to open in September
UAE-based conglomerate Majid Al Futtaim (MAF) has handed over possession of units at its City Centre Almaza Mall to tenants in anticipation of a September 30th opening. Located in the Cairo suburb of Heliopolis, this mall, which has a gross leasable area (GLA) of 103,000m2, includes a 13,040m2 Carrefour hypermarket, a Magic Planet entertainment centre,
25th July 2019
Categories: SagaRetail News - Retail & Shopping Malls
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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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Chinese gadget maker’s first SSA store an instant hit in Nairobi
Chinese technology company Xiaomi, best known for its Mi smartphones and laptops, opened a Mi Home store in the Hub mall in Karen last week – its first outlet in sub-Saharan Africa. Apart from smartphones, the outlet, which bears more than a passing resemblance to an Apple Store, sells everything from rice cookers to robotic
22nd July 2019
Categories: SagaRetail News - Retail & Shopping Malls - Kenya