Middle East shopping mall operator Majid Al Futtaim (MAF) has concluded a deal to take over some of the stores operated by South African retail giant Shoprite Group.
The move, which includes the transfer of six outlets and moveable assets of Shoprite Checkers Uganda Limited to MAF by the end of the year, is part of the UAE company’s strategy to expand its Carrefour operations in East Africa.
Majid Al Futtaim currently operates two stores in Uganda, under the banner of French supermarket brand Carrefour. Following the “lease transfer” deal, MAF will expand its footprint to eight Carrefour branches.
“We welcome the opportunity to bring our unique Carrefour offering of unbeatable value, range, international standards to more customers across Uganda,” said Hani Weiss, CEO at Majid Al Futtaim Retail.
“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.”
Shoprite Group operates several retail brands, including Checkers, across Africa. The company has more than 2,000 corporate-owned food and liquor retail stores, according to its website. Last year, Shoprite was reported to be considering the sale of a majority stake of its African business.
(Writing by Cleofe Maceda; editing by Seban Scaria )
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© ZAWYA 2021