News
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South African private equity fund acquires Egyptian supermarket chain
On July 14th, South African private equity fund Investec Asset Management announced that it had agreed a deal to acquire supermarket chain Spinneys Egypt from Dubai-based private equity firm Abraaj Group. Spinneys Egypt currently has 13 branches (11 supermarkets and two hypermarkets), eight of which are located in Cairo. It was founded in Alexandria by ex-British
19th July 2019
Categories: SagaRetail News - Retail & Shopping Malls
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Prosuma’s new foodservice concept reflects growing popularity of deli counters in African supermarkets
During early July, Ivorian grocery chain Prosuma launched Snack & Go in the Casino 2 Plateau mall in Abidjan. A stand-alone venue selling such fare as sandwiches, pizza slices, soft drinks, and fresh juices, Snack & Go is a hybrid deli/fast-food concept and natural extension of the deli counters and in-store cafés that Prosuma already
15th July 2019
Categories: Foodservice - Retail & Shopping Malls - Cote d'Ivoire - Kenya
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Glovo and Delivery Hero fall foul of Egyptian regulators
The efforts of delivery services Delivery Hero and Glovo to carve up African markets between them are not going down well with some local regulators. In June, Barcelona-based Glovo abruptly reversed its April decision to leave the Egyptian market, which it had entered the previous year. This had left Berlin-based market leader Delivery Hero in
5th July 2019
Categories: Egypt - Retail & Shopping Malls
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Carrefour set to step into Nakumatt’s shoes in Uganda
Majid Al Futtaim (MAF) has revealed that it will open Uganda’s first two Carrefour stores in spaces formerly occupied by Kenyan retail chain Nakumatt, which departed the local market in 2017. The Dubai-based retailer already operates stores under the Carrefour banner in Egypt and Kenya. Its entry into the Ugandan market follows a pattern established
5th July 2019
Categories: SagaRetail News - Retail & Shopping Malls
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KFC franchisee Kuku Foods partners with Vivo Energy
Vivo Energy, which operates Shell service stations across Africa, and KFC franchisee Kuku Foods East Africa Holdings have formed a 50:50 joint venture “to accelerate the roll out of KFC restaurants in Kenya, Uganda, and Rwanda.” The first KFC in East Africa opened during 2011, and there are currently 22 in Kenya and eight in
27th June 2019
Categories: Foodservice - SagaRetail News - Kenya - Rwanda - Uganda
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Egyptian mall developer looks to underserved delta region
What will be the largest mall in Egypt’s delta region (located between Cairo and Alexandria) is set to open in the city of Tanta later this year. Developer Marakez already operates two malls in the vicinity of Cairo – Mall of Arabia and Mall of Katameya. With a gross leasable area of 40,000m², Mall of
25th June 2019
Categories: SagaRetail News - Retail & Shopping Malls
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Jumia’s losses narrow on strong sales growth
Gross merchandise volume (GMV) at Africa-focused internet retailer Jumia, which floated on the NYSE two months ago, stood at €240 million during the first three months of 2019, up 58% year-on-year. GMV is the total value of merchandise sold through its marketplace, including third-party sales. Adjusted EBITDA loss as a percentage of GMV narrowed from 19.8%
13th June 2019
Categories: SagaRetail News - Egypt - Retail & Shopping Malls - Cote d'Ivoire - Kenya - Nigeria
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South African REIT seeks to exit six sub-Saharan malls
South African real estate investment trust (REIT) Hyprop Investments and its partners Attacq and Atterbury Group are seeking a buyer for the six malls they own in sub-Saharan Africa. Hyprop has an interest in four Ghanian malls (Accra, West Hills, and Achimota in the capital, as well as Kumasi City), in addition to Ikeja City
4th June 2019
Categories: SagaRetail News - Retail & Shopping Malls - Ghana - Nigeria - Zambia
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Walmart veteran to take the helm at Massmart
Less than a month after the resignation of Guy Hayward as Massmart CEO was announced, his replacement has been revealed. Walmart (which holds a majority stake in the South African retailer) is to parachute in one of its own – Mitchell Slape. 51-year-old Slape has worked at Walmart for 25 years in various roles across
28th May 2019
Categories: SagaRetail News - Retail & Shopping Malls - South Africa
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Choppies boardroom coup fuels nervousness among suppliers
Mired in an accounting scandal, supermarket chain Choppies suspended CEO Ramachandran Ottapathu last week, but this move does not seem to have gone done well with some of its suppliers, amid media reports of empty shelves in some of its outlets. Botswana-based Choppies operates around 250 stores across eight sub-Saharan countries, and Ottapathu, who has
28th May 2019
Categories: SagaRetail News - Retail & Shopping Malls - Botswana - Kenya