News
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Morocco Mall spreads its wings
Groupe Askal has unveiled plans to bring its Morocco Mall brand to Rabat and Marrakesh. The original Morocco Mall opened its doors in Casablanca during 2011. It is the largest mall in Morocco (with a gross leasable area – GLA – of 70,000m²) and one of only five malls in Morocco (and 33 in Africa
29th January 2020
Categories: SagaRetail News - Morocco
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Shoprite stabilises sales in sub-Saharan Africa
South African retailer Shoprite, the largest operator of supermarkets in sub-Saharan Africa (SSA), saw the annual rate of decline in its sales in that region slow from -4.9% to -1.5% between Q3 and Q4 of 2019. During the period July-December (the first half of its financial year), sales declined by 3.1%, to ZAR10.8 billion (USD736
29th January 2020
Categories: SagaRetail News - Angola - Nigeria - Zambia
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French PE fund set to take stake in Kenyan supermarket chain
Kenyan newspaper Business Daily reports that Paris-based private-equity fund Amethis is to acquire a 30% stake in Kenyan supermarket chain Naivas. According to “sources familiar with the transaction,” “Talks are at an advanced stage, with the parties now awaiting regulatory approval before making a formal announcement.” Naivas opened its 60th store in December 2019 and
20th January 2020
Categories: Uncategorised
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Delayed for over a year, Choppies FY2018 annual report makes for grim reading
During mid-December, Choppies finally published its financial results for the 12 months to June 2018 (FY2018). The Botswanan retailer’s losses deepened during the year, from an upwardly revised BWP169.8 million (USD16.9 million) in FY2017 to BWP444.5 million (USD44.2 million) during FY2018. Auditor PwC refused to sign off on its accounts, stating that “We have not
16th January 2020
Categories: SagaRetail News - Retail - Supermarkets - Botswana
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KFC arrives in Dakar and Khartoum, with Kigali next on the list
KFC opened outlets in Senegal and Sudan during late 2019, bringing to 22 the number of African countries in which it operates. This figure is set to rise to 23 in the near future, with plans to bring the brand to Rwanda recently unveiled on Instagram. KFC, a subsidiary of US-based Yum! Brands, is by
14th January 2020
Categories: SagaRetail News - Rwanda - Senegal - Sudan
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Carrefour expands in East Africa, while Naivas gobbles up what’s left of Nakumatt in Kenya
Carrefour franchisee Majid Al Futtaim (MAF) opened its first supermarket in Uganda during December and is due to enter the Tanzanian market in the very near future. The Ugandan store is located in Kampala’s Oasis Mall and has a sales area of 2,800m2. This mall formerly hosted Kenyan chain Nakumatt. Its first Tanzanian outlet will
30th December 2019
Categories: SagaRetail News - Retail - Supermarkets - Carrefour - Kenya - Tanzania - Uganda
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CityDia opens 18th supermarket in Ghana
CityDia opened a supermarket in the Accra suburb of Dansoman during mid-December 2018. 16 of its 18 stores are located in Accra, with one apiece in Kusami and Kyebi. It is also planning to build a 20,000m² distribution centre in the capital. João Rente Correia, general manager of CityDia Ghana, who previously worked for Portuguese
19th December 2019
Categories: SagaRetail News - Retail - Supermarkets - Ghana
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Fighting for survival, Choppies prepares to exit South Africa
Botswana-based Choppies, which at its peak operated more than 240 supermarkets in eight countries across Southern and Eastern Africa, has agreed the sale of its South African operations to Kind Investments Proprietary Limited for ZAR1 (USD0.07), including the assumption of all of the subsidiary’s debts. The deal is expected to close by February 2020. As
5th December 2019
Categories: SagaRetail News - Retail - Supermarkets - Africa - Botswana - Kenya - Tanzania - Zambia - Zimbabwe - South Africa
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Ivorian retailer seeks to remake the traditional market
Supermarkets continue their inexorable growth across much of sub-Saharan Africa (SSA), but some local entrepreneurs are attempting to hybridise this format with traditional markets to produce something that is uniquely African. The Prince Ebeano supermarket chain in Nigeria is one example of this, but Socofrais is taking the concept a step further in Abidjan, the
3rd December 2019
Categories: SagaRetail News - Retail - Supermarkets - Cote d'Ivoire
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New investment for Kenyan catalogue retailer
Nairobi-based Copia has raised USD26 million in a Series-B equity round led by UK-based impact investment fund LGT Lightstone. Impact investing refers to investments that are made with the aim of generating a measurable social, or environmental benefit, in addition to a financial return. According to Copia, it intends to use this investment to expand
2nd December 2019
Categories: SagaRetail News - Kenya