News
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High noon in Egyptian e-commerce
Noon, an internet retailer that debuted in Saudi Arabia and the UAE in 2017, recently launched a beta version of its website in Egypt. Backed by USD1 billion in investment from Saudi Arabia’s Public Investment Fund and a number of private individuals in the Gulf region, it currently sells products in Egypt across five categories:
27th February 2019
Categories: SagaRetail News - Egypt - Retail & Shopping Malls
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Import restrictions threaten supermarket supply chains in Southern Africa
According to The African Development Bank’s annual African Economic Outlook, which was published last month, such South African retail chains as Shoprite risk becoming victims of their own success in Southern Africa. This is because governments in the region have begun to perceive them as a threat to local economic development and are moving to
25th February 2019
Categories: SagaRetail News - Retail & Shopping Malls - Zambia - Zimbabwe - South Africa
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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
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Angola remains Shoprite’s sore spot
Shoprite has reported that sales (denominated in South African rand – ZAR) in its supermarkets outside of its native South Africa plunged 13.3% year-on-year during the second half of 2018. In constant currency terms (excluding the effect of foreign currency fluctuations), they were flat – rising by 0.1%. Angola, a petro-economy wracked by weak oil
5th February 2019
Categories: Retail & Shopping Malls - Angola - Nigeria - Zambia
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Troubled retail group Edcon gains some breathing space
Johannesburg-based Edcon Holdings Ltd., which operates the Edgars chain of clothing stores, has been given approval by its creditors to implement a recapitalisation plan. The bulk of the company´s 1,500 stores are in South Africa, but it has 169 outlets in other African markets, including Botswana, Ghana, Mozambique and Zambia. The 89-year-old company was acquired
28th January 2019
Categories: SagaRetail News - Retail & Shopping Malls
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CFAO pivots from hypermarkets to hybrid-markets in West Africa
Multinational conglomerate CFAO has brought the Carrefour brand to Senegal, opening a 1,800m² Carrefour Market in Dakar, what head of CFAO Retail Jean-Christophe Brindeau described as a “soft launch.” Brindeau also signalled a shift in CFAO’s West African strategy away from hypermarkets and towards a new hybrid banner. CFAO is planning to bring the Supeco
24th January 2019
Categories: SagaRetail News - Retail & Shopping Malls - Ghana - Cameroon - Cote d'Ivoire - DR Congo - Gabon - Nigeria - Senegal
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Choppies faces fire and fury in Zimbabwe
January has been an eventful month for the Botswanan supermarket chain in one of its most important international markets. Riots sparked by the government’s January 12th announcement that it was more than doubling the retail price of fuel saw nine Choppies outlets in Harare and Bulawayo looted, with four of these extensively damaged by fire.
22nd January 2019
Categories: Retail & Shopping Malls - Zimbabwe
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Pernod Ricard takes a swig of Jumia
French alcoholic drinks group Pernod Ricard has acquired an unspecified stake in Africa-focused internet retailer Jumia. Terms have not been disclosed. Jumia is owned by Rocket Internet, MTN, AXA, Goldman Sachs, Orange and CDCI, and, as previously discussed, it likely to have an IPO this year. Pernod Ricard owns such brands as Absolut Vodka, Beefeater
21st January 2019
Categories: SagaRetail News - Consumer - Retail & Shopping Malls - Ghana - Kenya - Nigeria
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Another international player enters the Kenyan grocery retail market
The takeover of supermarket chain Tumaini Self Service Ltd. by Sokoni Retail Kenya was approved by the Competition Authority of Kenya in December, adding to the list of international players (including Carrefour, Choppies and Shoprite) jostling for a piece of the local market. Sokoni Retail Kenya is an investment vehicle of private equity firm Adenia
15th January 2019
Categories: Retail & Shopping Malls - Kenya