News
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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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Choppies on the chopping block
Troubled Botswanan retailer Choppies has indicated that it intends to dispose of its supermarkets in Kenya, Tanzania, and South Africa. Choppies currently operates more than 200 outlets in eight countries in Southern and Eastern Africa, with Botswana and South Africa accounting for the bulk of these – 85 and 88 outlets, respectively, according to the
10th September 2019
Categories: SagaRetail News - Consumer - Botswana - Kenya - Tanzania - 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
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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