UGANDA, Kampala | Real Muloodi News | The holding firm of Emirati billionaire Majid Al Futtaim agreed to buy the Ugandan stores of Africa’s largest retailer, Shoprite Holdings Limited. Carrefour supermarket announced its agreement with Shoprite Checkers Uganda Limited to take over its six stores in Uganda.
The six Shoprite stores are at Victoria Mall, Acacia Mall, Lugogo Mall, Village Mall, Clock Tower, and Arena Mall.
According to its report, Majid Al Futtaim, the parent company of Carrefour, will take over Shoprite stores by the end of this year. The announcement comes a few weeks after Shoprite Checkers Uganda Limited announced its exit from the Ugandan market after 21 years.
Both parties will work closely together to ensure a smooth transition of the stores and their operations.
According to the CEO at Majid Al Futtaim, Hani Weiss, Shoprite stores’ acquisition will see Majid Al Futtaim 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 Weiss.
“Majid Al Futtaim is fully committed to creating great moments for the communities we serve in 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, both Lugogo Mall and Clock Tower properties will transfer to Carrefour. Carrefour supermarkets remain committed to the local supply chain.
About Majid Al Futtaim, the Parent Company of Carrefour
Majid Al Futtaim is one of the leading shopping malls, communities, retail and leisure pioneers across the Middle East, Asia and Africa.
Carrefour Supermarket launched in Uganda in December 2019. Majid Al Futtaim currently operates two stores at Oasis Mall and Naalya, under the banner of Carrefour.
Carrefour currently provides over 20,000 products in its two stores, of which 98% of the products are locally sourced.
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