French supermarket franchise, Carrefour, has Wednesday announced it has concluded an agreement to take over Shoprite Uganda.
According to the company’s press statement released today, the terms of the agreement see transfer of Shoprite Uganda’s six stores to Majid Al Futtaim, the parent company of Carrefour, by end of this year.
The development comes weeks after South African retail company Shoprite, announced it was quitting the Ugandan market after 21 years.
Shoprite has been running six stores in the country including; Acacia Mall, Village Mall, Victoria Mall, Lugogo Mall, Clock Tower, and Arena Mall.
According to Majid Al Futtaim, acquisition of Shoprite’s six stores, will see Careffour expand its footprint to eight stores.
“We welcome the opportunity to bring our unique Carrefour offering of unbeatable value, range, international standards to more customers across Uganda”, commented Hani Weiss, CEO at Majid Al Futtaim Retail.
“Majid Al Futtaim is fully committed to creating great moments for the communities we serve for the long-term. This agreement represents our continued investment in East Africa. We look forward to strengthening our offering in the region and supporting local talent through employment and career development opportunities.” Weiss added.
As part of the agreement, the Lugogo Mall and Clock Tower properties will also transfer to Majid Al Futtaim who remain committed to its local supply chain and now, new tenant partners.
Majid Al Futtaim, parent company of Carrefour, is one of the leading shopping mall, communities, retail and leisure pioneers across the Middle East, Africa and Asia.
Majid Al Futtaim currently operates two stores in Uganda, under the banner of Carrefour.
Carrefour launched its first store in Uganda in December 2019 in Kampala’s Oasis Mall, and in March 2021 opened its second store in Naalya.
It currently provides 20,000 products across its stores, of which 98% are locally sourced. Customers are also able to order products online through partnerships with Glovo and Jumia Food.